Do traders work alone or do they sometimes work together in a partnership of sorts to get perspectives the other doesn’t see. Or even an apprenticeship type of deal?
Answer is yes, yes and yes.
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Working alone. You are responsible for your wins and losses, in that respect. However, there are tons of free info from all kinds of different sources. There are also paid sources. In my opinion, don’t consider paying for anything until you have a solid understanding of forex basics, so you can accurately cost vs value.
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Partnership. Join a ongoing thread; start a chat in the chat room. Lots here to choose from no matter what your style. Again learn the basics from the school first, in the long run it will save you time and again, will give you the knowledge to make a decision.
3, Apprentice, not as much as using a mentor or coach. Again don’t consider until you have an understanding of the basics to help you in your decision process. Good Luck
Gp
True, true, very true.
Trading in forex requires either you will make profit or lose and that depends on you. And as such you need adequate knowledge and practice before going into full time. And you need to work with a broker so you need to do a care full selection of a broker.
Yes, every trader works alone…as for partnership, it does work, for a while or so but in the end, every trader goes his own way…
Retail traders in general trade alone (there are always exceptions). Institutional traders are known to have different teams, but in the end each trader decides when to execute a trade even if you trade as part of the team. Institutional traders who create teams do so as their are bonuses for the best team, but each trader within the team trades individually (again there are always exceptions).
I think it depends on your personality and level of experience. Some traders work better alone while others work better in teams or under a mentor.
Couldn’t agree more. I think for a retail trader to have long term success, you have to play to your strengths not someone else’s. Just like there is no one way to do pretty much anything in trading, there is no one way to learn.
Yes, you as a trader should work alone. You can also share opinions with other traders but in the end you are the one who will enter the trade and you will face the result of it.