Trading forex

Tahntaman

Private, 1st Class
Messages
63
I think that this experienced trader is just too arrogant that he tells such things.
It is definetely possible to make decent and consistent profits if your expectations are down-to-earth and you have the right level of self-discipline.
Many people think that trading can make them millionairs within sheer weeks and they deposit all the money they possess and start trading without any suitable background and knowledge. That is a huge mistake that is why you've got to have real expectations from forex trading. If you want to take profits, you've got to learn a lot and never stop this process. More than that, there are so many skills that you have to master and all of it comes with the experience. It is vital to keep being motivated all the time because during the periods of uncertainty and distress the temtation to give it up and forget about trading is very strong. Here comes your self-discipline which helps you stick it out.
Anyway, trading is just like any other activity: if you want to be a success, you need to master this profession and implement your knowledge on practice. There is no magic in forex, just the numbers and adequate analysis of the data that you can get from the trading platform and from the charts themselves.
 

TareqS

Corporal
Messages
106
Since you are interested in this business, you should start trading. Please do not start live trading though. Start demo trading and trade on demo account at least for 6 months. Study and learn as much as you can. If you think you are confident with your strategy, you may start live trading with a micro account. You will find yourself in the position to decide whether this business for you or not in course of time.
 

FriendlyFX

Sergeant
Messages
161
I know it sounds counterintuitive but the goal should be to make successful trades .
Act as if the money is secondary as once you can place winning trades your in business
 

HeavenLeighRob

Corporal
Messages
116
You could definitely make money trading forex despite that. I believe your friend probably had your best interest in mind but shouldn't try to talk you out of trading when it could become a great way for you to earn income.
 

bigdolly

2nd Lieutenant
Messages
1,194
I think that this experienced trader is just too arrogant that he tells such things.
It is definetely possible to make decent and consistent profits if your expectations are down-to-earth and you have the right level of self-discipline.
Many people think that trading can make them millionairs within sheer weeks and they deposit all the money they possess and start trading without any suitable background and knowledge. That is a huge mistake that is why you've got to have real expectations from forex trading. If you want to take profits, you've got to learn a lot and never stop this process. More than that, there are so many skills that you have to master and all of it comes with the experience. It is vital to keep being motivated all the time because during the periods of uncertainty and distress the temtation to give it up and forget about trading is very strong. Here comes your self-discipline which helps you stick it out.
Anyway, trading is just like any other activity: if you want to be a success, you need to master this profession and implement your knowledge on practice. There is no magic in forex, just the numbers and adequate analysis of the data that you can get from the trading platform and from the charts themselves.
Yeah I felt many times during market turbulence that I lose control over trading, during this periods its better to take a break and spend more times on finding new ideas for trading algorithms or simply take a rest.
 
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