Greetings!! I hope everyone is having a good 2021. If not, if you’re facing adversity, disappointments, or any other new challenge(s) I hope that you’re giving it your best as you face them.
As you can see I’m Choco2491. My real name is Amos. As I said in my topic, I am a proud DC native as well as a current resident. I say that because as I type this we’re preparing for the new challenge of hosting what will be the most tightly secured Presidential Inauguration ever. Still I am optomistic.
I say “relatively new” to Babypips, because I joined last year. Then I have been taking the courses but not on a consistent, steady basis. I am still in preschool. One of the reasons is that Babypips is not the only online course that I have taken. I am also studying about Candlestick charts.
I have also opened a demo account as well as a live account. I understand somethings while some other things are taking more time. Yet I am pleased at what I have learned so far. I for one heard about Forex trading years ago. I of course have wanted to make that big money. Right now I am more focused with learning what I can about this business with the mindset that the money will come in time.
I also have a couple of good mentors…but I welcome advice from any experienced trader. Therefore please feel free to reach out.
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Great attitude and mindset. Exactly the learning path you must take to become successful. Forex is all about NOT LOSING MONEY. Never give it back to the market if you can avoid it by good money and risk management.
Yes, you will get losses like we all do, and I hate losing, but I hate losing big, more. Don’t let that happen - cut losing trades early before the S/L is reached. Use the savings to fund another trade. There’s always a better one awaiting.
Thanks!! Yes one instructor said that if you go into trading expecting to never lose that you need to go into another business.
To be honest I would be happy to start earning between 20 to 50 a day. Then I will take it from there.
A better mindset would be to not lose 20 to 50 a day. It’s critical to look at it this way. Otherwise you put a lot of pressure on yourself to reach a goal that won’t happen.
What I do is never to set daily goals, it won’t work. Ever. Just let trades take their course - you can never change what the market will throw at you.
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Thanks! Also I need to learn how to write a trading plan.
Great intro and fellow DMV’er here. Hope things stay calm this weekend.
What experience do you have trading and what are your goals?
You are doing it the right way. I have been trading forex for the last few years and still, I test my strategies on my demo account before going live with them. It helps me in understanding how a strategy would work for me If I have any doubts, I make changes and test it again.
A forex trader gets a lot of opportunities to make profits in the market. It is all about making the right decisions at the right time. You won’t learn to make profitable decisions from the very beginning. It takes some time for a trader to become capable of making trades that get profits. Make your decisions wisely!