Trading forex

Tahntaman

Private, 1st Class
Messages
66
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

Sergeant
Messages
166
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
248
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

Sergeant
Messages
247
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
1,234
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.
 

forexinmind

Recruit
Messages
40
Agreed!
Rather than trading in adverse market conditions, it's always beneficial to sit back and wait for the right move.
 

Kelemeena

Recruit
Messages
6
The trader is right in a way but it sounds a bit like hypocriticism.
Surely, trading forex is not an easy taks. It is not that kind of activity which you can start and make the profits right away. In most of the cases when newbies come to the market they tend to feel like they can do it without any background knowledge and certain skills which are related to the successful trading. In most of the cases such people lose all their money right away and claim that it is impossible to earn the money trading forex.
I never take somebody else's opinions for granted and always try to prove it on practice and I feel that you should do the same. Before you invest your money in trading forex, I advise you to try trading on your demo account and read the educational materials on forex. Once, you've got some knowledge about what trading is all about, can you come to the sensible and down-to-earth conclusion about whether you can do it or not.
Of course, not all of the people find trading comfortable for themselves just because of their personality and stress resistance. Many people consider forex trading to be too stressful for them that they cannot cope with this psychological pressure. It is hard to know whether you are ready for it without even trying. So, I recommend you to try it and have your own opinion about it.
 
Messages
296
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.

Very good post, I wouldn't say it was arrogance more a self knowing that they don't need to be flashy. They are in it for the reason to make money and they are in it to run it like a business. If people act other than that I think there maybe something to question
 
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