Rob is my name, and I’ve been a trader since 2008. When I first started out, most experts predicted that a newbie would need at least three months to learn how to trade. I can tell you from personal experience that it takes significantly longer.
I searched the internet for any “new” information that might help me succeed rather than paying for any online training. I would argue that I have tested more strategies than the average trader and read more articles.
I recommend trading on your demo account if you are new to Forex. This way, you can make sure you know exactly what you are doing. Sadly, there is no timetable for when the lightbulb will turn on. Every individual learns at a different rate and at different points in the learning curve.
I count myself among the fortunate ones. I hate losing by nature, and Forex made me a humble man almost immediately. Because of the currency market’s complexity, every time I thought I had “figured it out,” I was sent back to the drawing board and lost more money.
I was pretty much a complete failure during the first year of trading. Before I started, I thought I would have the perfect career making money from every trade. The truth is that a poor strategy, a lack of information, guessing, and praying all contributed to my failure quickly.
I really delved into the fundamentals and technical analysis, applying strategies that simply did not work, as I began to question what I had learned. I thought many traders were successful, but they were using completely different strategies and tactics. I only wanted to know which option would be best for me.
I tried to keep my income stable, but I soon started using my bank accounts to “make up” for the losses I was experiencing every day. A lot of time was spent looking at the screen. After every stop loss, it happened. I don’t know how I survived looking back.
I am aware that the majority of traders conceal their losses. I think it’s because of ego, I think. However, I am aware that the process I went through to learn this is quite typical. I’m not sure who is keeping track, but you’ve probably heard that 97% of Forex traders lose money.
I discovered online Forex chat rooms, where I spent the next few years “learning how to trade” and socializing with others who were experiencing similar difficulties. As more and more of my online friends blew through their trading accounts, the people in the rooms slowly changed. Despite the fact that our friends in the chat room were following the same “wrong” advice, each of us ended up failing.
I was using a number of indicators that seemed to work perfectly at one point during the journey. I decided to make a bot after conducting back testing. The problem was that I was feeding the programmer inaccurate information and that he had no prior knowledge of trading. The bot lost twice as much as it won during testing. remarkably similar to my own outcomes.
You have reached a crossroads. You have the option of listening to what I have to say, which could be of tremendous assistance to you, or you can continue looking for a trade method that works for you.
Do you need another opinion on whether to buy, sell, or hold a particular pair? Do you have queries regarding trading strategies? Do you require the precise sell or buy points for a particular pair? Do you require responses to specific questions about trading?
Every trader is unique, as are the reasons they started trading in the first place. We take the time to get to know you on a personal level and learn about your goals. Whatever the reason, we will assist you in achieving your objectives.
A part of the solution is having an accurate forecast ahead of the upcoming trading week. You must still be aware of when to enter the trade, where to set your TP and SL, and the size of the trade you should enter.
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