I'm trying to get enough patience, when I was new one, always care about daily lost and profit, now I focus on long term balance and trading strategy improvement.
One good PAMM manager will save your time and bring obviously profit, but firstly you need to select one reliable and good performance PAMM account, I just start with REMOVED PAMM account, will update performance here.
FPA Forums Team Note: Please post about your PAMM experiences in the...
Two important reasons are trading mind and knowledge, newbies have not enough understanding about forex trading risk, bad trading strategy will lead to worse mind.
I think we should close position before high impact news issues, that's really high risky trading on high impact news if you just judge according to news from internet. Now everyone will know that news at first time once issued.
Trading is not 100% science, but still have self rule, such as risk control plan, lower spread and stoplost etc. Anyways trading strategy should be science, lower risk and take reasonable trading strategy.
I believe forex trading could be trusted, it's more fair and profitable than stock and gold market, many my friend has made profit through forex market, but how to get constitant profit should be one problem.
PAMM is especially good for traders without much experience or time, but please make sure you find a good manager, because that means others will manage your funds.
Too many reasons will cause lost for traders, such as self ability, knowledge, skill, minds, even broker problem. I think trading mind should be top important.
Trading plan is necessary for forex trading, such as trading objective, risk control plan etc. I always setup strictly risk contorl to avoid lost too much.
Nothing strange, forex trading need trading experience and skills, such as for lost, newbies will be worried and want to get back asap, but veterans will wait for right time and opportunity.
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