Hi
if you want to be successful as a trader, personally I think he’ll never stop learning. learning is very important.
It’s a common suggestion but true fact. There is no end of forex market and of course there is no end of learning. but for that we have to be more patient and diligent. Otherwise we would lost motivation after passing some steps.
If I could go back nearly 10 years and tell myself the most important lesson I have learned it would be to start trading on the Daily timeframe. But would I have listened???
I think we’d all agree that the Monthly timeframe is easier to analyse than the Weekly, the weekly easier than the daily etc. And yet, when we enter forex we start at the other end, the shorter timeframes are like an addiction you need to get unhooked off of.
Yes, that is what I am doing every day. Because too many things to learn and consider here, it is going to take more long time I have had to imagine.
Yes, there are many things we have to learn if we want to make certain a maximal result by trading. just knowledge and experience cannot bring profit here. Besides this we have to disciplined, focused and much more.
Knowledge and experience is first needed and after that is more important a reliable support form a credible broker . because the broker can affects the result of our trading with certainly. That’s why choosing a broker always a difficult job.
When it is time to choose a broker you have to be in cool mind, because lots of brokers are available in this retail market place and most of them are found to be scams.
Yes majority is found to be scams. That’s why we need to choose most reputed brokers and which is more comfortably for the beginner traders. Generally good brokers don’t allow beginners suitable trading surroundings in their platforms.
Reputed broker indicates top forex broker, they are really good but their trading platforms are not suitable for the retail traders, minimum deposit and trading spreads are always high, so new Forex traders cannot choose them in spite of having desire. Its reality.
I am completely agree with your message. And I already have explained about it. Thank you Peter.
I think new Forex trader should choose the broker which always ensure good trading environment for acquiring exact trading knowledge by providing exclusive educational facilities with video tutorials. So before choosing a broker there educational facilities we have to look for who are especially newcomers.
I don’t think so. Because brokers educational facilities are not sufficient to learn advanced level. they just can make sure basic level of education nothing without it.
It really depends. I believe it’s a never ending learning process. But if it’s really your passion to learn forex then you should not be worried. Good luck mate!
Everybody saying that Forex is easy business or a gambling-like business. But, when I see that everyone here telling newbies like me there are so much more to learn, to experience then I am like who actually say these words that “Forex is easy business”. The sentence seems to me now hilarious.
Education to know any thing require some time when you are aware of its basics you got learning when you do work on it. In forex this learning is continuous. I spend more than 4 months for basic knowledge along with it I did demo practice. Till now my knowledge is increasing as I make good performance in trading.
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95% almost loser from here. This is the answer for the question, Forex is easy or not. But of course there are lots of opportunities in here to earn profit if you can pass a long time with great patience. Otherwise please move on others.
You spend more than 4 months. I think I need more time than that. The funny thing is here is that it is said trading can do anyone, there is no restriction like age or profession but though it is opened for everyone it is not for everyone.
If all it took you to learn was just four months then you are definitely an unusual (in a good way) case - most people take a lot longer.
Can you elaborate your education in particularly basic knowledge that you have acquired by Four months. I think the most powerful basic knowledge which can supports really in micro for that one should spend minimum 1 year.
This is the reason why many people do not last longer here. And yes, unusual things can happen, I believe that.