Hello guys I'm new here

[shivv420]

Hey guys I've been facing many difficulties in trading andd incurring huge losses . Can anyone explain me the right way of trading?

 

[andreafaccina]

hi shivv420!
firsth study money management and lot usage!
if you search on youtube there are several videos ... then you have to study some trading techniques ... there are lots of them for every style and time available!

Basically consider the ratio every $ 1000 on the account -> 0.01 opening lots. Then depending on the type of trading and how long you want to keep the trade open, there can be many variations on the size ...

 

[cashisking86]

Hey guys I've been facing many difficulties in trading andd incurring huge losses . Can anyone explain me the right way of trading?

Unfortunately nobody is going to be able to tell you the "right" way of trading as it will vary person to person. What I will say is stop trying to make money and go back to demo and thoroughly test your strategy and tweak it until there is decent evidence to suggest you should even be considering using it on a live account. Get the process right and money will follow. Too many traders come in and chase money and like you, normally just give it away.

 

[Daantje Pieters]

Besides learning, you have to apply your earned knowledge on demo account because it will help you retain your knowledge for a very long time. Learning has become so easier now because of the availability of internet.

 

[Fedcorn]

If you’re making losses, you’re wrong somewhere. Evaluate your strategy and trading plan properly. Don’t risk more than your risk appetite and risk only 1-2% of your trading capital. I would advise you to practice on a demo account until you make steady returns before you trade live.

 

[Bangkok]

Hello there, I would suggest you read some good books to figure out the right way of trading on your own. Because every trader is different and has different trading goals and getting it right is a lot of trial and error for every beginner. Just pay more attention to risk management to minimise your losses and focus on developing your trading skills.

 

[Hootenany]

You must investigate the true problem. Examine all of your trading efforts to determine the true cause of your massive losses. Apply appropriate remedies.

 

[InnerMarshal]

Your lack of knowledge could be one of the causes of your massive losses. However, you do not need to be concerned. You simply need to expand your knowledge and expertise on the subject. Upgrade your knowledge and start concentrating on practical knowledge rather than theoretical knowledge.

 

[therock01]

HELLO GGUYS AM NEW HERE WANNA LEARN HOW TO TRADE BOOM AND CRASH

 

[HeavLeighGill]

Hi! I'm sorry to hear that you've been struggling. I think I would take a step back from trading, go to demo, and start keeping a detailed journal if that were happening to me. This way you can assess what's going on without losing any more money in the meantime, then get back to it later.

 

[BinarySumo]

There is no best or right way of trading. Every trader has his/her own way. You need to find yours. Focus on improving your trading knowledge and test your strategies before trading live. There are a lot of trails and errors involved, so have patience.

 

[aaron17]

If you’re making losses, you’re wrong somewhere. Evaluate your strategy and trading plan properly. Don’t risk more than your risk appetite and risk only 1-2% of your trading capital. I would advise you to practice on a demo account until you make steady returns before you trade live.

In that case what would suggest forex or binary. Just wanted to know your opinion. Thanks

 

[Siphonic]

I don’t think there is a specific right way of trading, everyone has their own approach to market sentiment. You need to focus on gaining knowledge and practising on a demo account so you’ll know what to expect during the live trading process.

 

[Expatiate]

Here are some tips that might help you -

• Define your objectives and trading style.
• Brokerage and trading platform
• A Reliable Methodology.
• Establish entry and exit points.
• Determine Your Expectancy.
• Small Losses and Focus
• Loops of Positive Feedback
• Conduct Weekend Analysis.

Have you actually learnt about forex trading before starting? If yes, then wherefrom? Because buying courses from instagram influences won’t help you.

 

[BoldMaestro]

Hi there, welcome to the forum! Firstly, there is no specific right way to trade, you need to create your own plan, strategy and budget. Practice on a demo account once you read books or watch YouTube videos, so you can put your skills to test. Figure out the kind of trader you want to be and you’ll find the answer to your question then. Good luck!

 

[Barnstorming]

Don’t look for the right way anywhere. You are the one who can create your own way. Read some books on psychology and don’t trade with real money until you know how to minimise losses while trading.

 

[Famished]

In order to do things right, you should first educate yourself about trading and the market. Trading can begin once this condition is met. due to the fact that making accurate market predictions in forex trading requires a high level of analytical skill. Market behaviour is notoriously difficult to predict.

 

[YellowWitty]

Sorry, but there is no right way. Everyone learns in their own way and speed. I would recommend you to keep track of your trades and analyse them from time to time. Leave live trading for a while and practise on a demo account.

 

[Wallflower]

The best solution for you right now is to avoid making live trades. You should brush up on your knowledge and practise more on a demo account.

 

[Jackyard]

You will have to spend time analysing the market closely to find out the right way of trading for you, specifically. Your lookout and how you manage to approach the market will decide your future in the market. Learn all you can so you can apply the knowledge and skill to make better profit.