Everybody in forex did not start as an expert. Back when you were still a newbie, how much did you lose before you start making profit? Can you share some experience and mistakes that newbies like me should avoid?
Everybody in forex did not start as an expert. Back when you were still a newbie, how much did you lose before you start making profit? Can you share some experience and mistakes that newbies like me should avoid?
I started to have consistency after I developed and started to follow trading plan trading with Hotforex. Reliable broker and carefully-developed trading plan is key to good performance.
I think most successful traders - if not all - can say the same thing - their results got better once they formulated and started following a trading plan.
Everybody in forex did not start as an expert. Back when you were still a newbie, how much did you lose before you start making profit? Can you share some experience and mistakes that newbies like me should avoid?
You won't be successful until you understand price action and structure of the market. Also to be aware of the manipulations by the big institutions. I have been trading for 5 years with mixed results and only now starting to be consistent. Risk management is also very important. Go to youtube and watch "how to think like a professional trader" by Mark Douglas.
Loss is the part and parcel of forex market. Every trader wants to reduce their losses. If you want to reduce your losses you need to study more and more about forex market. Basically new traders are not serious about the losses. To reduce the losses every traders need to make a plan and walk through that plan. I always trade with TP Global FX. It has low spread and give personal advice to reduce or recover the losses.
