Be realistic ( Don’t expect to turn $100 into $200 in a month. Thats 12874.63% per year performance! Warren Buffett’s Berkshire Hathaway has generated an average stock price gain of 20.8% per year )
No magic bullet for forex trading. You have to learn and understand the market
You do not need to be in a position at all times. Staying on the side can be good at times
No one can predict forex correctly 100%. Don’t try to catch tops or bottoms, bet on reversals etc. No one know for sure what happens even in the next minute or second.
Too many koalas getting margin calls. hope this helps!
Oh yay! Another experienced trader in the community. Thanks for this @trading801! I hope we could get to interact more. I’ve been learning forex for almost a year but I still have a loooong way to go.
Hahaha. I try. I’m actually still demo trading and I’m just trying out a system. Are you using any particular system? Haha. (I hope you don’t mind me asking. Lol)
True with Forex it’s practice that can smoother the curve. I have learning and my real live trading has improved my knowledge yet am still yearning to understand it further.Practice…practice.,
Thanks for sharing your words it will definitely help the new babies to concentrate their thinking on important aspects. And before anyone can start his trading he should try to ensure proper fund management and he must craft realistic plan within his financial capacities to trade.
Demo trading / back testing ideas & strategies / Historically looking back further some times to get a more in depth picture of how the price is bouncing up and down. All of these things in conjunction with a demo account can truly help.
Thanks for sharing your views. To ensure a successful trading journey a forex trader will need to carry out all of his trading activities in the efficient way. Proper money management, risk management and time management can help a trader to fulfill his trading objectives.
@mtb_rex be mindful of the economic events that are due for the week. If the uncertainty is high and you do not have a strong conviction for the intended trade, you should consider thoroughly.
Definitely points 1, 2 and 3 are crucial. I’ve heard so many stories how people invested all their life savings with hope to ensure the future and lost everything which is devastating indeed. We should start small and then grow bigger. Most newbie traders expect to receive positive results and make huge profits on the first month which is impossible. Like you said, there is no magic bullet. There is no universal plan and strategy which works for everyone. We need to learn to trust ourselves mostly.
Another experienced trader in the community. 
I’ve been learning forex for almost a year but I still have a loooong way to go. 
I’m actually still demo trading and I’m just trying out a system. 
Hmmmm. BUT! Will definitely check that out 