i just read some of the lessons, and my parents are really pushing me to start practicing on trading already. but im still kind of lost.
i get what it is and all that stuff, but is there like a person with lots of experience who cantell us what the reaal basics of what to know, what to do when actually doing the trading. What kinds of signs should tell us when we should strike and all that stuff. there isnt like a shortcut of site or book to know what the âbig guysâ know?
If you have done some of the lessons then you know, there is no short cuts or easy way to do it. Iâve been demo trading now for two months and have been a student here for a few short weeks. If Iâm not getting practice on the demo, Iâm here learning more. I donât expect you to do this but, itâs how I am doing it. This is only a suggestion. Remember that 90% or so, of people who want to be traders fail. One good reason is, doing it before they are ready. Thatâs a sure way to lose everything fast. Also remember your a little fish in a big ocean, thereâs lots of sharks out there who would love to take your money. My suggestion is take your time and practice & learn, tell others who want to rush you to push off and try and do it themselves and see how easy it is. Donât be a fish that gets eaten learn, and be the shark. Also I suggest is to learn from those who are actually trading. You may pick up on some tips and tricks to help you along the way. Good luck.
Not always. Take today for instance, I lost out on 2 trades but made up for on the other 6. Iâm still trying to figure out how to use and read some of the graph indicators but the more I study them the easier it is to pick out whatâs going on. If you really want some good advise, check out what guys like In2Blues has to say. Really the Senior Members know quite a bit and I pretty much listen to what they have to say. Good Luck. Iâll be here to help if I can and Iâm sure everyone else will do the same.
Donât ever let anyone push you into trading when youâre not ready. Youâll only lose your money.
Do yourself a favor and go through the Babypips free school. It will give you the basic knowledge you need so you can practice properly. Then, you can ask questions based on your knowledge.
I herd that it takes between 1 to 3 years to learn what you are doing. I say that if you cant pull a profit for at least 3 months in a row then you have no business going live. Your parents have your best intrest in mind but they donât know how risky this can be. Maybe you should edcuate them and then they can also make some money.
I believe that so many people start off in trading on the wrong foot because their perception and expectations of what is possible is way out in left field.
You should definitely listen to the advice of the others here. It is wise advice.
Give yourself time to learn the mechanics and how to work a trading platform by demo trading. Spend alot of time getting the idea of good risk management engrained into your brain. This is really the crux of every methodology you might choose to explore. Spend time trying to learn what the emotional/psychological pitfalls in trading are and make every effort to avoid them.
Give yourself time to make mistakes and learn from them, not be discouraged by them.
And last but not least, DO NOT go into trading thinking that you can turn 1000 into 1,000,000 in a few months (or years for that matter).
In trading you win some and lose some. Thatâs a fact.
Getting all this sunk in takes alot of time. Commit to it and youâll get there. But make no mistakeâŚit is a commitment. It means sticking to your guns when things get tough.
As mentioned earlier in this thread, iâm sure your parents only want the best for you. They don;t realize that a rushed approach to this business always ends in disappointement. Get them to read what all of us are sayingâŚwe canât all be off our rockers
Wait, what? I think itâs strange that everyone jumped right to the Forex answers, but thereâs some serious ethical issues going on here!
Why are your parents pushing you to trade FOREX? That is like telling your kids to go practice at the casino, because that is basically what level youâre at right now
Are you an adult? A minor? Did you pump their head full of unrealistic visions of riches, and now they regard you as their financial saviour?
Are they traders themselves? I doubt that, otherwise youâd be getting awesome first-hand advice from them.
You need to make your own decisions in your own time. It doesnât even sound like you want to trade, just make money. I would not even think about doing this unless I absolutely loved learning about it and doing it (and I do).
So I think you need to figure things out with your folks before you start hunting for FX secrets and holy grails.
Sorry if this seems rude, but I canât believe parents would be pushing their own children to impending financial doom so earnestly.
