A quick introduction of myself as well as to share some things that will help.
I have been trading for 7 years now. If you are looking for a way to make money and buy your time back from a job…well forex trading can do that. Go through the Babypips School as it will give you a great foundational education. When you complete that go farther into isolated areas to learn Chart reading and Candlesticks, Support & Resistance, Candle patterns, Chart patterns, Trendlines, Fibonacci Retracements, Stochastic, RSI Indicators (MACD, ADX, MOVING AVERAGES) Bollinger Bands, and Ichimoku. I recommend trading real money…it can be pennies and dimes but trade real money ASAP because you will have cash vested in so you will take things seriously enough to learn. Start feeling the pain and frustration of losses so you will grow inside after each mistake.There are no short cuts…forex trading like anything else worth getting good at will take time and a lot of effort, frustration, anger, tenacity and greed.
Nicely said. Thanks for sharing your trading experience.
To be honest, if you don’t have the right mind set regarding risk and money management, you’ll fail whether you are live or on a demo.
I agree with everything that you have mentioned here. It is important to clear your forex basics before desiring to make profits. Knowledge is the most important tool that comes as your saviour in the market. If you are not knowledgeable, you won’t be able to make your trades work for you.
That’s good. It will be interesting to hear more from you. Do share your trading experience with everyone. Thanks.
It’s true that forex trading offers a lot of opportunities to traders. But at the same time, it also comes with a lot of risks. You will have to take the risks in order to make profits.
Well put and I completely agree with you here. I personally believe demo accounts are good but there isn’t any need to waste months practicing because till the time your real money isn’t at stake, one tends to play safe and won’t learn where he made mistakes, and what changes need to be done in the strategy.