Singles are easier than homeruns. Scalping is for beginners, swinging is advanced. Seasoned traders tell us to start by scalping and people still believe the higher frames are easier to trade. Hodling is the most difficult way to start because you never know if youre developing or getting lucky gambling.
If you cannot make money every single weekday without fail for a great 5 day week, then you wont be able to consistently make money every single year without fail for a great 5 year period. Its the same thing except scalping provides instant feedback for timely trader development. Fractal systems work on all timeframes
Learn what you can about forex and practice those concepts in a demo account. If you’ve already done that, then trade a micro account. If you win, that’s great, but if you lose, try to find out the mistakes in your strategy and rectify them. Learn and implement risk management strategies in your trades to minimise your losses and continue the trading process.
In order to get good at trading, traders need to show dedication and passion along with hard work. It is essential to hone several skills like having a good knowledge of market analytics as well as all the financial instruments in the field. It always takes years of experience and hustle to attain stability and earn profits.
First and foremost, getting good at something requires experience, hard-work, patience and persistence. If you want to get good at trading, you should follow these tips:
Take time to educate yourself about the fundamental and technical analytics of the forex market
Always have risk and money management techniques
Plan and strategize your entry and exits before entering trades
Most importantly, always start your trading journey through a demo account to gain adequate amount of experience before going live
To be good at trading, one has to know the techniques of trading and how to apply those techniques on the market. Learning phase should never be stopped to advance your trading to the further stage. In that case, one can read the online resources. Initially babypipsschool helped me much in developing my basic and advance.
Do not give up but concentrate on learning. You may want to start demo trading. Develop a strategy that works on your demo account. If you are confident with the strategy which has a good winning ratio at least 60% and the risk-reward ratio is 1:1.5, then start trading on live. Do not forget that it takes time. I am wishing you all the very best.
Then you can try Forex simulation trading; actually demo practice is time consuming; but Forex simulation is quicker & effective! But honest, building a good trading skill is always a long term process! There is no shortcut way!
There is no alternative to learning because learning makes a trader perfect. But we see a severe unwillingness among traders about learning that drive them to be losers. Online sources for learning Forex are also available so learning nowadays has become so easy.
Getting good at trading requires consistency, experience, hard-work and passion. It is also very important to learn money and risk management skills and plan your entries and exits before making trading decisions
Just keep practising! There is no other way. You have to be patient and stick to the process of trading. But your trading will only benefit you if you also learn from your mistakes. For that, you have to backtest regularly.You can take help of a trading journal to track your trades, find errors, and correct them.