It requires a lot of practice, but a demo account helps me in understanding the trading in depth with all the technical aspects. It teaches me strategies and what precautions a trader should take while trading.
Get advice from creditable traders. Advice from those who are not good themselves, is empty advice.
Do you ever place pending orders in both directions?
I have a buy order above price on EUR\R/USD and a sell order below price.
Give it a little room to establish the trend and a little room to accommodate the stop loss.
Just a suggestion. I call it “insurance” trading.
All the time. It’s what I do.
If you’re looking at the charts and they’re full of chaos, don’t trade!
I’m a scalper as well and if I don’t see clearly defined signals, I wait.
Know how to spot and have a strategy for three different market conditions. Start with a good trend strategy because it’s easiest and get profitable with that. Once that happens, you will most likely develope a breakout strategy along the way. That will give you hints about a reversal strategy (almost the same as a breakout but not quite).
Remember, you’re scalping! Take small bites and chew! A bunch of small trades that win will help you emotionally.
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Hi, don’t worry this happens quite often. All you need to do is revise your strategy and approach the market in a different manner. If something doesn’t work, change course. Don’t stick with the same strategy, there should always be room to change while you trade.
Exactly, no other better way to explain this and make sure to add patience too.
How do you get good at trading?
Just like with almost every other thing in the world…Constant practice.
Regular practice and constant forex reading are what helps me with getting good at trading.
To gain a good understanding of trading, you must be dedicated, determined, consistent, patient, and needs to practice a lot.
You can get good at trading by constant learning and practice, employ a number of strategies to support your trade in pursuit of returns and once you have mastered trading skills after that Identify your ultimate objectives and keep upgrading with time.
Don’t give up on a trade until you’ve checked the daily chart.
You have to work hard to gain knowledge and experience. The richer the experience you have, the better you get at trading. Accept the losses you incur and trade with discipline and consistency.
keep learning and trying until last day of your life and pray that you be lucky before that day . Make it as a hoppy and enjoy the trip . Risk little amount until you break the wall .
In Forex you must find your own way which is not written in any book .