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Honestly frustrated with trading forex

  • #161
  • Oct 19, 2015 7:17am Oct 19, 2015 7:17am
Quoting yaed
{quote} Well sure, but the big difference between trading demo and money is psychology. Your are not worried about loosing money on the demo. So you might do good. And then with money you do bad. Even so, i would recommend to noobs to trade demo first and after some sucess move to 0.01 lots and go easy and slow from there.
Totally agree with this view and most important in my view, use a well tried and tested Broker who is getting 5 star reviews.
Then you should get much fairer fills and exits. Couple that with well planned money management.
Max 2% risk at minimum 2:1,( profit :cost,) patience, a clearly defined plan, discipline.and over time one should be profitable.
Happy Trading
  • #162
  • Last Post: Oct 19, 2015 8:35am Oct 19, 2015 8:35am
Quoting reldas
{quote} Totally agree with this view and most important in my view, use a well tried and tested Broker who is getting 5 star reviews. Then you should get much fairer fills and exits.
Fairer fills? You want a broker who simply isn't interested in the outcome AT ALL and trading servers that are geographically close to you and after I read a question on this forum lately: you do not want to trade from high latency mobile networks (there's a reason I'm paying a few hundred quid for my internet every month).

I'm totally liberal regarding the risk thing though, there is no need to say 2% max, a reasonable risk depends on quite a number of other factors.
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