Yeah ! Choice of a broker is one of the toughest decisions we have to make as a trader. So before you choose one, do an extensive research and make sure they are genuine.
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when you choose a genuine broker . it will take time. personally before choosing a broker i always take time to see their reviews in all Review sites above all in FPA.
Stick to your trading plan and strategy and dont stray from it when trades dont go well stop you losses and wait to fight another day. Half a loaf is better than none
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Joined Mar 2020
|170 Posts
Try to avoid lossess in Forex is very difficult thing. If you want to become a successful trafer than you need to hace fully knowledge and skills to trade in real account for a lomgterm. Choose a reliable and trusted broker and broker should be regulated too.
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Joined Mar 2017
|484 Posts
if anyone willing to avoid losses , i think it is more appropriate to leave the trading place , because there is no way to avoid losses in there , of course you have to facew it today or tomorrow.
if anyone willing to avoid losses , i think it is more appropriate to leave the trading place , because there is no way to avoid losses in there , of course you have to facew it today or tomorrow.
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Leaving the trading place seems bit harsh but yes, they need to understand that losses can and will happen so it is very important for them to realize that there is no way to avoid the losses, but rather they can try to minimize the losses by placing various strategies like putting SL/TP and other which will be helpful.
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Joined Jul 2020
|135 Posts
If you are new in this market you need to learn all the basics of forex properly before start trading. Because most of the lose their money because of their low knowledge about the forex market.
babypips.com has an awesome course for beginners and it's completely free and their forums are way better than the ones you'll find on here.
many different strategies to test and practice with https://www.babypips.com/trading/trading-systems
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Joined Apr 2020
|370 Posts
In forex market, there is always somebody who makes a profit and somebody who makes a loss on any given trade. Even with years of experience and knowledge, there is no reason why you cannot be on losing side every once in a while.
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Joined Jul 2020
|130 Posts
Forex trading is very risky, so it is essential to know what you are doing. Forex trading is constantly evolving. Therefore, in order to keep up with current trends, you must continually educate yourself. The Internet is a valuable source of information on Forex trading. If you want to have a successful career in forex trading, you have to learn from your failures and the failures of other traders.
Try to avoid lossess in Forex is very difficult thing. If you want to become a successful trafer than you need to hace fully knowledge and skills to trade in real account for a lomgterm. Choose a reliable and trusted broker and broker should be regulated too.
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Yes, knowledge and skills are the key to be profitable in the forex market. Most people do not follow any risk management policy. They just want to be rich but not willing to read and learn.
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Joined Jul 2020
|133 Posts
Remember one thing, This market is a risky market. If you are thinking to start forex, you should have all the knowledge properly about the market and the business. Otherwise, you can face losses.
If you are new in this market you need to learn all the basics of forex properly before start trading. Because most of the lose their money because of their low knowledge about the forex market.
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Yes absolutely right. Knowledge and skills are the key. Loss is a part of trading. That's why we need to learn how to manage loss. Most newbie ignore money and risk management. It's as important as finding a good entry and exit.
{quote} Yes absolutely right. Knowledge and skills are the key. Loss is a part of trading. That's why we need to learn how to manage loss. Most newbie ignore money and risk management. It's as important as finding a good entry and exit.
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I agree. Good money and risk management practices are vital if one wishes to succeed in this industry.
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Joined Jul 2020
|129 Posts
Becoming a new trader is expected to make a lot of profit from trading. You can feel that gain if you research Forex. Forex is not an easy thing. If you want to make a profit here, you have to overcome many obstacles. If you are a new trader, my suggestion would be that you practice for at least 1 year and do research on Forex in this demo practice. If you can make a profit in the demo then you can open a cent account and do real trading. This way you can learn forex trading better.
