How will i know that i already learned Forex trading? - page 2
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Well you must start off in a demo.
Aim: Achieve consistent profitability. Can you make the number of pips that you aim on a daily basis? Y/N
If yes, open a $200 account and using the same technique, make the same number of pips daily for at least 21 weeks.
If you achieve this, then you can label yourself as a trader and venture into big time trading.
PAT
If you are making money consistently over time then that is a good sign you are there. 2 things first though:
1. If you are trading a demo and making money in that don't automatically assume that the same will be true in a live account. When trading demo you have no attached emotions to the trades and nothing to lose. Without knowing it you will make different decisions in a live account. Most of the time to the detriment of your balance!
2. Many people profit for a certain length of time only to find that in a weak or foolish moment they do not act in their own best wishes and lose a large part of their bank. Make sure you are consistent on a day to day basis so this does not happen. While self-sabotage sounds ridiculous, it happens.
I "knew" I was there when all of a sudden everything just seemed to "click" into place. I had learned and forward-tested the Pipdaq setups for many months on a live account, got my trading psychology sorted (thank you mark douglas) and had 7 years past experience play in my favor. All of a sudden everything felt right and instead of being frustrated and losing, I was calm and winning - even actually enjoying trading for the first time ever! At that moment I knew my fortunes had turned and it was a moment I will likely never forget.
I can only say that, the best way to learn Forex trading is to create first a Demo account for yourself. I know that the demo is not a real live account, and you can not feel the loses or the profits that you are gaining in the right way , but with the Demo account you can try different ways of trading in order to build with the time your own way of trading on the market. And also with the Demo account you can afford to make some mistakes until you get better, because you won't play with real money
If you feel confident while trading on demo trade and if you have been making profit on consistent basis then you can start real trading. keep it mind that there is real difference between real trading and demo trading, but demo trading actually help us to make ourself prepared for the real venture.
That's what I think too.
Yeah otherwise we cannot sustain in this market
See no buddy can 100% sure about forex trading as forex is very vast market and you have to be very much dedicated towards learning and updated info in market trends, you can say that you are experienced enough when you will get profit every at trading and you can make best strategy on the basis of that you can earn good in forex.
When did you know you succeeded?
This question may be a bit silly to some, but at which point did you know you succeeded as a trader? I know most will never enjoy long-lasting success and the numbers speak for themselves, but those who have succeeded or at least claim they have (no worries, nobody is asking you for any evidence of success) at which point did you qualify your trading as a success story?
Mine was when trading become my primary source of income and was able to rely on it 100% for an extended period of time.
I know about Forex through Youtube and Google ....... it helps me so much
I am working here from 2 yeas . I think there are many things remaining to learn for me. I do not think my learning or trading perfect . I am still a beginner just making good profits some times. I will continue my learning . New systems and strategies are to test for more improvement.
What is knowledge?
You know guys what is knowledge in Forex and how does it play role in Forex trading.
I think knowledge is the basic key for success in Forex and we can not succeed without proper knowledge about forex. Are you agree with me guys?
Thanks in advance.