Hi Everyone, I am Oluchi. I am new to Forex and I am excited to start learning how to trade in it. I have had it in mind to get involved in forex trading for a while now, but never got around to it. It’s nice to finally begin the journey.
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Wrong mindset. When trading FX keep cool, calm, and collected - otherwise you’ll be on the fast track to blowing your account.
That’s the reality, not social media marketing hype.
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I was with Forex for a long time but last year was the year that I worked very hard daily. But after one year, I have to go back to demo account to backtest everything I have learned during last time, a failed year with stress, excited, boring, hopeless, …But I will not give on Forex, I have start again even though it’s from zero, learn and improve everyday.
All the best!
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Hi y’all, I am new here and I hope to learn about forex as I am new to this and want to be a great forex trader one day and also enlighten someone else about it. I believe this is a beginning of a great journey
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Thanks @ steve369 for pointing that out to me. I appreciate it.
You’re not alone, perseverance is key, and now you have the right mindset. It took me one year eight months to find my way to consistent profits even though they are small.
The critical keys are managing emotional control and protecting your capital all the time. Without it, you cannot trade. I now follow a very strict process with the aim to be on the right side of a trade.
This involves understanding that the FX market is a zero sum game between humans disagreeing with one another. Every trade you make, there is someone on the planet that is trading the opposite.
Order flow is what drives price up and down, as traders either open or close their trades. Which means in order for you to be on the right side you should be looking at your candle charts (above 1hr ) and seeing the movement to where the order flow is likely to be challenged.
Patience and discipline is needed. IMO, for daily trades movement towards supply and demand zones could be one such scenario.
Hope that helps.
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Hi @steve369,
Thank you very much for your words of encouragement, always appreciate all your comments in this forum.