there is basically nothing we do in this life that doesn't require practicing. And forex is no exception,things have been made very easy for us with t=demo account available and so many material online.
Are You Disappointed in Trading?
- Thread starter ituglobal
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there is basically nothing we do in this life that doesn't require practicing. And forex is no exception,things have been made very easy for us with t=demo account available and so many material online.
When it comes to forex trade, you'll only have yourself to blame when you do not have money management plan. Money management tome is a is a defensive conception. It protects your trading accounts so you can trade another day. Without this, you'll end up being disappointed.
I am not disappointed in trading now. At initial stage, I was very disappointed but then I realized that it’s not gonna work like this. I started again with whole heartedly and try to build new strategies as per my knowledge and trading style. One thing I learn is that it is not at all an easy job, only the person who has keen interest to learn forex can make good trades and become profitable through trading.
Demo Trading is the best way to attain knowledge about the Forex Trading, as it doesn't includes the risk of losing money.
While we are at demo trading for a while, we can think of upping our game a little. We could go real, but start with small amount that we can afford to lose.
We can copy all we want, learn from people, read books and do all we can, things will still go wrong at some point. This not because we did not do things right, but because we just can't control somethings that happen.
You are very correct, Freezfx. That is the true nature of the market. We just have to accept with good fate the result of what we cannot control.
Yeah, that is the also way to learn about the Forex Trading, other than Demo. We could have a better experience in the Forex Trading, by learning through that strategy.
That is it, while we demo trade we could open a live account that we can test strategies first hand with little funds. This will help balance the equation between simulated trading and real one.
the best we can do in such situations is to learn from what has happened and see if there is any better way avoid that feat.
Some traders are disappointed in trading forex, newbies especially are more susceptible to making the mistake of trading high leverage. The market is not always steady and because they do not understand the amount of risk that high leverage brings, they are easily fascinated by it and in the long run, they lose all their investments.
This is the best way to start a live account with small amount initially. As even if you get adequate experience trading in demo; you do not get the feel of trading with real money. So, opening a small account is the best possible way. By this you can get more better understanding of forex market and also chances of having loss are very small with low initial deposits.
That is why they need good knowledge and practice for a considerable amount of time, in fact non stop practice.
Don’t also forget discipline. Learning the basics and practicing is easy. However, most traders fail due to a lack of discipline, not a lack of knowledge.
Thanks freezfx
Truly. Newbie’s are the ones who get affected by the tempting leverage offered by the brokers. They need to understand this fact and know that starting with small deposits are best suitable and can help them grow their profits more efficiently.
Yeah, in fact if we are not careful it might come to extent where we owe money that we don't even have. What I mean is we can even owe the broker funds
Yeah this is a vital point, it could especially get worse when we are not careful with demo trading. Since it is simulated we can be easily carried away, but we should realize that discipline starts from there.
Yes it is quite possible. Can you please explain this concept of owing the brokers fund? I’m not able to exactly relate with it.
This is a rare feat, but suppose you use a leverage to turn $100 account into $100,000. though this might be hard for the broker to allow, but suppose it does happen and you lose you whole money, you should be in debt then.
But this days brokers don't allow you to lose more than what you have on your accounts, else they will close your trade with a margin call.
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