HI Whats your best piece of advice to get trading

downtrend

Master Sergeant
Messages
886
In forex you can not say you are learned because it is a continuous process that will give benefit as you adjust our trading according to the market situation. Your mistakes and greediness will be hurdles in success so A traders has to get knowledge and control other factors too that can effect on trading. Then he can plan and act on any good strategy to become best with his best efforts.
 

bigdolly

2nd Lieutenant
Messages
1,201
The best recommendation that comes to mind is to avoid trying public trading systems on live account. Firstly, blindly following some approach makes it impossible to 'debug' if something goes wrong, you get zero experience and intuition from that and secondly it makes little sense for a creator to make trading system available for wide public.
 

Kirstysingy

Recruit
Messages
60
Practice, practice practice on demo, only put in what you can afford to lose as it won’t always go right first time. When live trading it’s a lot about controlling your emotions
 

fxoday

Recruit
Messages
625
learn how to minimize the risk as strict as possible, get in touch with patience, because no holy grail trading system on the net, let make forex as fun trading, don't big dream will rich overnight, still, there is any hope able increasing money as you success minimize the risk.
 

Spellkiller

Private, 1st Class
Messages
80
Practice, practice practice on demo, only put in what you can afford to lose as it won’t always go right first time. When live trading it’s a lot about controlling your emotions
Yeah, you're absolutely right. Practicing on demo is the best advice for novices to start their trading activity. In addition, they have to learn some stuff about trading at all, get through various educational courses as well. But practicing has to take more than 60% of learning time I think. It's also a good way to learn how to manage emotions, to learn self-control, you know. I believe that emotions control is a vital detail in trading activity. However, there are some opinions that beginners who trade on demo can't get feelings which traders have while they're trading on a real account. That's why there must be strict borders of trading on demo, I mean no more than 2 months for example.
 

Clay Davidson

Recruit
Messages
98
Perhaps, one of the most important things in trading which is underrated by the majority of people is money/risk management.
Before you start trading some serious sums of money, you should definetely learn how to control your risks and the whole budget. The market is unpredictable and it can behave differently in the same financial situations which makes the vast majority of different trading strategies useless and failed. The most adequate and knowledgable traders know about that, so they hedge their risks and secure their funds from major losses. On the contrary, those traders who have never heard of risk managementtend to lose lots of money in the long run because some even minor unpredictable fluctuations can lead to the total catastrophy.
 

HeavenLeighRob

Sergeant
Messages
178
Focus on self-improvement instead of only chasing the money. If you improve yourself as a trader, money will follow.
 

Magestaff

Recruit
Messages
12
I would like to attract everybody's attention to risk and money management. In most of the cases these things are underrated, but I feel that they can make your trading more consistent and stable. It is an open secret that markets are unpredictable and everything might happen in this or that period of time. That is why, every trader should have a clear-cut idea of the fact that there is nothing certain in the markets and there is always a probability that everything may go against your expectations. If you don't calculate your risks and don't determine the most adequate position size, you are prone to losing really much within sheer minutes. That is why it is of great importance to calculate your risks and secure your budget from occasional fluctuations and price moves.
 
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