There’s no stability in trading, today you made a good buck and lost it tomorrow, that’s just the way it goes…
It happens because every faction in this market place is uncertain and we can’t predict. But we can reduce our losses by taking some major steps in particularly most powerful analyzing money management.
You are forgetting one simple thing. Forex trading requires specific knowledge and skills. Without having that Knowledge and skills, how can you earn from here? There is no shortcut for anything except lottery jackpot. Forget about earning unless you learn the art of trading. You can study in School of Pipsology in babypips.
Most likely for this you need a good pamm account from a successful trader. You invest in his pamm account and he will earn money for you. There is no other choice on forex trading. And you save time and energy. And while a trader makes money for you and other investors, you can do your own business.
Thank you for information about Paam accounts but the problem this is much difficult to make sure a successful trader who can manage my trading with successfully. That’s why investors lost motive from Paam services even though this is one of best source to earn profit from Forex trading without passing time and energy. Any suggestion to find better one ?
Why is there “no other choice”?
How do the people trading the “good pamm accounts” learn to trade, and why can’t others learn the same way?
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Pamm Account gives investors a viable opportunity to make a sizable profit in Forex without trading themselves and secondly, it opens the door for managers to earn additional income by administering client funds for them.
PAMM accounts are really good for regular earning , you can also get your own trading skill by doing regular and planned trading. It does not means it will give you fix earning. it will enable you to earn consistent profit . You will manage your risk and learn how to maximize profit with trading.
In forex market it is very hard to earn money on regular basis and you cant just earn profits daily. You have to set monthly targets because some weeks will be good and there will be disaster weeks as well.
Forex is a highly competitive and risky market area. there is no doubt that earning a consistent money is not that easy. As you want to earn money on a consistent basis and no matter it can be smaller you can work with suitable mini accounts and use scalping as your trading strategy. As scalping provides moderate to small profit in each trade.
Nath , I agree with you. Scalping is most usable and profitable but only for the trader who has a long term experience. It contains huge risk than others trading techniques. For that reason newcomers don’t able to earn profit by scalping in each trade. When I was a newcomer I did huge losses by means of this short term approach even though there was lowest trading spreads. Actually result of scalping is completely depends on experience.
I have seen according to my experience by and large brokers especially the regulated don’t allow scalping in their platforms. can someone explain why they do it ?
I feel good with my weekly targets. I not set high aims Just realistic targets makes you comfortable . High aims not possible in forex until you had not professional skill and attitude towards trading. Profit should be seen as a whole not on daily basis. When we are in profit at the end of month or week we can say trading is good.
get a job first? so that you could have steady income while learning
Very good move imbest . High aims always causes a great reason for losses in Forex trading, we have to fixed our target according to our trading understanding, realistic target always easy to achieve , I did huge losses when I was a newcomer just because of high aims that made me greedy and emotional when trading.
High aim is good for real life but not for Fx trading , because it makes us greedy at all times that causes revenge trading and over trading. we have to make sure our trading target according to our knowledge and experience, otherwise any good plan can be useless . actually success in Fx depends on a great combination between knowledge and practicing.
Generally we always like to fix our aim too high , in Fx trading or real life this decision make us emotional and greedy . so, we have to remove this attitude for leading a comfortable trading life.
Not agree completely at all, you can be greedy and emotional when trading even though there is no high aim. Any bad trading habits we can’t avoid completely, because these are common human nature. But of course we can control all of these by means of real trading discipline.
As a newcomer it’s quite difficult to maintain proper trading discipline for all time. but I failed sometimes due to emotions . that’s why I think emotion is the foremost hindrance in Fx trading than any others.
Forex is not a place where you can earn huge profits as a beginner except the one with good strategy and knowledge. If you want to earn then you have to work hard surely. Many people bear huge losses due to lack of belief or wrong belief.