forex new trader
Miembro desde Nov 28, 2018
posts 3
Mar 21, 2019 at 08:23
After spending many years in trading and after making and profit and loss. I want to tell you this it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. I’ve known many [traders] who were right at exactly the right time, and began buying or selling stocks when prices were at the very level that should show the greatest profit. And their experience invariably matched mine; that is, they made no real money out of it. [Traders] who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make the big money.”
Miembro desde Mar 05, 2019
posts 11
Mar 21, 2019 at 09:31
What do you mean? Are saying that the most important thing is to hold a trade open and 'let the profits run'?
Miembro desde Nov 28, 2018
posts 3
Mar 21, 2019 at 09:46
After a wild and lengthy rollercoaster ride as a speculator, Livermore believes he has found the secret to his success. It’s obvious he’s excited by this discovery, which he eagerly shares:
“After spending many years in market and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
“It is no trick at all to be right on the market,” he adds. “I’ve known many [traders] who were right at exactly the right time, and began buying or selling stocks when prices were at the very level that should show the greatest profit. And their experience invariably matched mine; that is, they made no real money out of it. [Traders] who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make the big money.”
“After spending many years in market and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
“It is no trick at all to be right on the market,” he adds. “I’ve known many [traders] who were right at exactly the right time, and began buying or selling stocks when prices were at the very level that should show the greatest profit. And their experience invariably matched mine; that is, they made no real money out of it. [Traders] who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make the big money.”
Miembro desde Nov 28, 2018
posts 3
Mar 21, 2019 at 09:46
Almost anyone can learn the mechanics of trading. It’s the psychological pitfalls that make trading one of the most challenging activities. No matter your skill level, it’s important to remember and obey the rules of engagement — another word for discipline.
Miembro desde Mar 18, 2019
posts 98
Mar 21, 2019 at 14:55
agreed. use all the free online tools available.
Mar 22, 2019 at 08:53
I do not argee. In fact I think this is utter rubbish. Yes, the psychological aspect of trading should not be ignored but the most important thing is the mechanics , strategy, risk management of trading. Get that right and there shouldn't be psychological problems.. The psychological problems only become a problem when traders don't know what they are doing
Miembro desde Feb 11, 2019
posts 34
Apr 01, 2019 at 10:19
AdamCantor posted:
agreed. use all the free online tools available.
what tools do you recommend? thanks
Miembro desde Mar 18, 2019
posts 98
Apr 01, 2019 at 12:55
tracydavison posted:AdamCantor posted:
agreed. use all the free online tools available.
what tools do you recommend? thanks
personally speaking i ind economical news sites to be the most beneficial as they break down technical/fundamental and a bit of everything, but less techy jargin too which helps newbies. Daily Forex, Investopedia and investing.com are my top three but forums like here also really help too, to learn from others etc :)
Hope this helps
Miembro desde Mar 18, 2019
posts 98
Apr 03, 2019 at 05:35
LeBuffon posted:
Daily Forex is very good. I just read everything they publish it really helps to bring the fundamental and the technical together
I also do this too. Daily Forex is one of the best for the most accurate up to date market news imo. good to switch it up between fundamental and technical when you first start out too.
Miembro desde Feb 22, 2019
posts 11
Apr 09, 2019 at 06:04
Without understanding of risk and money management there can be no sustained profits. Money management separates the loser from the winner 😀
Miembro desde Mar 18, 2019
posts 98
Apr 09, 2019 at 13:45
I totally agree with the above comments. Knowing the markets in which you are trading is vital in terms of historical data, predicting market movements and knowing when to open and close trades is key. demo until consistently profitable on the whole, and have developed key strategies, before committing to a live account.
Apr 10, 2019 at 10:39
According to me, Forex trading is not any kind of lottery or gambling, so I seem; traders need to open their demo after completing basic topics on Forex! Actually, when I opened my demo account then I didn’t know how to ride on Mt4 trading platform perfectly, so I faced initial problem with my Mt4 trading platform! So, you can work with your trading platform before starting your trading!
Apr 12, 2019 at 12:12
particularly before starting trading , we consider this stock exchange as a casino and try to bring profit very rapidly without learning , but in practical there is no short cut way of earning and success in long time process in here.
May 06, 2019 at 08:57
In Fx trading, learning is not easy despite of having too many sources including pips school, learning sometimes boning and usually new traders get tempts to start trading without enough knowledge and become fascinated with the way of trading live which may cause laziness and trapped by wishful thinking get rich quickly scheme
May 08, 2019 at 09:01
i have seen So many new Forex traders try to make money from here without learning. As a result they become loser due to lack of exact trading knowledge. It’s a common thinking. I think by and large lose because they trade with emotions and don’t know how to manage money in Forex.
Miembro desde Jan 05, 2016
posts 1189
Oct 23, 2019 at 04:14
New traders should focus on Risk Management above all else.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
