How to Be an Expert in Forex Trading: Some Tips
Member Since Mar 25, 2015
74 posts
Jan 17, 2017 at 15:47
mlawson71 posted:
Great advice. I too, though, would say that there’s no need to stick to MT4 alone, there are plenty of platforms one can choose from, depending on what they need.
Precisely! There are also pure market research platforms that could be used as well in addition to support analysis, if the selected trading platform lacks capabilities. 😄
Member Since Feb 22, 2011
4862 posts
Jan 18, 2017 at 07:33
leo23 posted:
Steps:
=====
1.Study the forex market and mt4 usage
2.Find a system suitable for you
3.Backtest the system by strategy tester for at least 2 years of past data
4.Forward test the same system in demo account for 3 months
5.Forward test in cent real account for 3 months
6.Go for live trading in a standard account risking not more than 1% to 2 % per trade
Agreed
Jan 20, 2017 at 14:06
johnnapiranha posted:
I've been learning all I can and practiced on demo for a year & half. I wanted to develop a strategy that works for me using as few indicators as possible. I ran 3 demo accounts into the ground before I was able to become profitable in demo for several months. I went live last week, and I feel optimistic. I met my goal for my first week. I'm hoping it will continue.
After 1.5 years I see it is still hot enough to cut it 😉
Why would you like to use very few indicators?
Good luck in your live trading and keep up the good start!
Jan 29, 2017 at 06:45
Understanding the very basics of candle movements is the best start. Why is the candle turns bullish or bearish? How does it move? Who move the prices? If u get the basics right, u don't need indicators to trade. Trading in demo is totally different from live account. It lacks the emotions that comes with trading your own money. The key lesson is money management. Get this right and your fundamentals right, you will a be a successful trader.
Let's Profit Everyday!
Member Since Jan 30, 2017
22 posts
Jan 31, 2017 at 13:27
Here are the few steps that according to me must be kept in mind while trading on forex:
1. Plan your goals and stick to it.
2. Select your broker carefully and also go through the terms & conditions.
3. Pick your account type, set the leverage according to your needs & expectations.
4. Get deep insight of the factors that can affect the movement of the market, study both technical and fundamental factors.
5. Always study your own success and failure and take notes properly.
If you follow the above mentioned steps you can surely achieve your goals and can become an expert in trading.
1. Plan your goals and stick to it.
2. Select your broker carefully and also go through the terms & conditions.
3. Pick your account type, set the leverage according to your needs & expectations.
4. Get deep insight of the factors that can affect the movement of the market, study both technical and fundamental factors.
5. Always study your own success and failure and take notes properly.
If you follow the above mentioned steps you can surely achieve your goals and can become an expert in trading.
Member Since Feb 22, 2011
4862 posts
Jan 31, 2017 at 13:34
mohdforex posted:
Understanding the very basics of candle movements is the best start. Why is the candle turns bullish or bearish? How does it move? Who move the prices? If u get the basics right, u don't need indicators to trade. Trading in demo is totally different from live account. It lacks the emotions that comes with trading your own money. The key lesson is money management. Get this right and your fundamentals right, you will a be a successful trader.
Nope.
You need to learn the way to trade which suits to you.
This is not necessary candles...
Feb 02, 2017 at 15:04
jackwilliams posted:
Here are the few steps that according to me must be kept in mind while trading on forex:
1. Plan your goals and stick to it.
2. Select your broker carefully and also go through the terms & conditions.
3. Pick your account type, set the leverage according to your needs & expectations.
4. Get deep insight of the factors that can affect the movement of the market, study both technical and fundamental factors.
5. Always study your own success and failure and take notes properly.
If you follow the above mentioned steps you can surely achieve your goals and can become an expert in trading.
Yes, makes sense, indeed a common sense 😄 Good luck to you in trading by these rules!
Member Since Jan 30, 2017
12 posts
Feb 05, 2017 at 07:31
Investors have a troubling trait i.e. the more vagueness we face, the more anxious we get. The uncertainty of world event scares us. We have desire for somebody to make sense of it. However, no one can predict future. We are usually attracted to experts who claims what lies ahead for the economy & the market. Expert portfolios generally do not beat the market on a risk adjusted basis during the period of study. Holding this portfolio assists one to minimise the unnecessary risk which is not likely rewarded as a simple market index which has a diversified portfolio as a better option.
Member Since Jan 30, 2017
22 posts
Feb 05, 2017 at 07:32
MC85 posted:jackwilliams posted:
Here are the few steps that according to me must be kept in mind while trading on forex:
1. Plan your goals and stick to it.
2. Select your broker carefully and also go through the terms & conditions.
3. Pick your account type, set the leverage according to your needs & expectations.
4. Get deep insight of the factors that can affect the movement of the market, study both technical and fundamental factors.
5. Always study your own success and failure and take notes properly.
If you follow the above mentioned steps you can surely achieve your goals and can become an expert in trading.
Yes, makes sense, indeed a common sense 😄 Good luck to you in trading by these rules!
Thanks MC85 :) Good luck to you also for your trading. 😄
Member Since Feb 02, 2017
37 posts
Feb 06, 2017 at 12:57
I guess it takes a lot to become an expert in forex. You ought to be disciplined and patient and follow a proper trading plan to emerge as a successful trader. A clear mindset and thorough research can help you manage your risks and boost your earnings. Also one should learn to accept losses in forex. Some days you gain, some days you lose! But you learn constantly. Be consistent but do not overtrade. It surely is a hard win success but if you go by the forex rules, you can surely be an expert in forex.
Member Since Jan 30, 2017
12 posts
Feb 06, 2017 at 14:53
Step 1: Don’t Procrastinate
Step 2: Practice more and more of trading
Step 3: Learn from your mistakes
a. Develop a Strategy & stick to it
b. Do not over trade on the demo account
c. How to become a successful trader
Forex trading can be worked with an internet connection from anywhere in the world. We talk about technological developments, these help in all over the world. Thus, Forex traders are usually blessed with strong growth potential and lifestyle would certainly help a lot in long run.
Step 2: Practice more and more of trading
Step 3: Learn from your mistakes
a. Develop a Strategy & stick to it
b. Do not over trade on the demo account
c. How to become a successful trader
Forex trading can be worked with an internet connection from anywhere in the world. We talk about technological developments, these help in all over the world. Thus, Forex traders are usually blessed with strong growth potential and lifestyle would certainly help a lot in long run.
forex_trader_372845
Member Since Oct 31, 2016
36 posts
Feb 27, 2017 at 16:10
Aprenda a adaptarse rápidamente a los cambios. Si el lado 'ganador' está cambiando, no dude en modificar su estrategia inicial al lado del éxito. No se obsesione con ninguna transacción. 😄
forex_trader_381988
Member Since Dec 06, 2016
37 posts
Feb 27, 2017 at 21:33
The size of the position tells us how much you will risk throughout the operation.
You will achieve your goals through your strategy to determine the size of the position. In fact, 90% of your performance is due to the size of your position, so you should spend more time planning your position-size strategy than any other aspect of your system.
You will achieve your goals through your strategy to determine the size of the position. In fact, 90% of your performance is due to the size of your position, so you should spend more time planning your position-size strategy than any other aspect of your system.
forex_trader_373781
Member Since Nov 03, 2016
20 posts
Feb 28, 2017 at 21:07
jameshallow07 posted:
Step 1: Don’t Procrastinate
Step 2: Practice more and more of trading
Step 3: Learn from your mistakes
a. Develop a Strategy & stick to it
b. Do not over trade on the demo account
c. How to become a successful trader
Forex trading can be worked with an internet connection from anywhere in the world. We talk about technological developments, these help in all over the world. Thus, Forex traders are usually blessed with strong growth potential and lifestyle would certainly help a lot in long run.
Of course, we must learn from our mistakes. Good point!.
Not always is won nor always lost. We must bear in mind that it is a market of probabilities and unexpected movements and that, possibly, if we invest in Forex we will lose a percentage. The thing to avoid is that profits, after all, exceed that percentage of losses.
forex_trader_372845
Member Since Oct 31, 2016
36 posts
Mar 01, 2017 at 00:07
Consider diversifying your portfolio.
Forex (foreign exchange) is one of the instruments you can consider to balance your investment portfolio. Trading on Forex does not fit all investors, so if you are interested in putting a very strong part of your financial resources within the Forex market be fully aware and warning of the risks and rewards that entails doing so because it is not recommended Invest everything. The same applies if you are going to manage your investment, diversify your risk by not putting all your faith in a trade because diversification is the key; No matter what financial instrument you are investing.
Forex (foreign exchange) is one of the instruments you can consider to balance your investment portfolio. Trading on Forex does not fit all investors, so if you are interested in putting a very strong part of your financial resources within the Forex market be fully aware and warning of the risks and rewards that entails doing so because it is not recommended Invest everything. The same applies if you are going to manage your investment, diversify your risk by not putting all your faith in a trade because diversification is the key; No matter what financial instrument you are investing.
forex_trader_379006
Member Since Nov 24, 2016
14 posts
Mar 02, 2017 at 07:17
proyecto posted:
Aprenda a adaptarse rápidamente a los cambios. Si el lado 'ganador' está cambiando, no dude en modificar su estrategia inicial al lado del éxito. No se obsesione con ninguna transacción. 😄
My friend, I think you have made a mistake in writing in Spanish.
forex_trader_379006
Member Since Nov 24, 2016
14 posts
Mar 02, 2017 at 07:24
BaldoN posted:
Hello,
There are perhaps many, many tips how to become or how to be successful trader and many traders just either copy/ paste or just say what they hear, but the question is 'how many of those tips are really followed?' :)
You wrote something very smart. According to what you say @baldo all those who have written should have a successful mega trade because all the advice is very good.
I particularly know of excellent tips but I have not applied them, however, I have other very good ones that I have applied and they have been very useful to me. So everyone !!! Please apply those super tips that are out there!
Member Since Feb 20, 2017
5 posts
Mar 02, 2017 at 08:14
i just want to share my experience. i have been with itrader for a week now and all is going there with a good level of customer service.
Mar 03, 2017 at 08:15
Be sure that if you really love trading, you should also love reading. Reading and monitoring the movement of the market can really help you in trading. I have find this Global Market Update (https://www.funds-money.com/) very helpful especially if you are really on the process of reading about commodities, stock and forex.
