Forex trading is not a child’s play for sure! Traders need to build discipline and patience if they want to succeed. Learning new information and skills is the way to last longer in the market. So, traders should keep an open mindset and try to work harder towards achieving their goals.
The state of the market is truly unpredictable. It is influenced by a variety of factors. However, it is encouraging to see moderate growth at the moment.
Welcome to the forum. Looking forward to hearing more about your experience as a trader and I am sure you can also learn a lot by being a part of this community.
These are not just tips but unwritten rules which you must follow for profitable forex trading. Thank you for the insightful post. I really hope that the beginners would follow these tips so that they can avoid losing too much in their initial phase. I would add one more tip which is about using...
Forex trading can be a rewarding profession for anyone who has the right amount of potential to become a skilled trader over time. But you should be able to support yourself throughout the learning phase and becoming a profitable trader surely takes time.
I believe that all that you do in the forex market must be in a controlled manner. You must pre-decide all your steps and promise yourself that you won’t do anything that you haven’t mentioned in your trading plan.
Fear and hope are what I got through most times. I have been trying to control these as these make me open trades in unnecessary trades that result in losses.
Control your excitement before you take up any trading services. Don’t rush opening trading positions and research well before you do so. Frauds don’t come with a tagline but promises and zero negative reviews are red flags.
There might be no rule for using a stop loss but it’s for your own safety. I mean no one is going to help you recover from your losses. So, why take a chance? Just do your calculations and keep your trades safe from unwanted losses.
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