How is trading in FOREX?
Question:
Answer:
Did you develop a successful Trading Plan?
Remember, plan your Trade and Trade your Plan!!
You MUST read through this site before doing anything
http://www.online-futurestrading.com/...
N.B: I am NOT associated with the site. I am a budding day trader and this site has very good advice.
My advise is try Again. until you see that u have made
Double the original amount.
If you can make double the amount twice with a free demo, i say i want to give you my money, to trade for me.
The other thing is, with demo money, you don't get to see how your emotion will influence your trading.
that is why they say 90% of new traders lose their money in a long run, your enemy is emotions and hoping that the wave will reverse, therefore holding a long losing position.
What i have leaned is this.
The art of winning, i think comes from training your self(emotions) how to lose for a day, and trying tomorrow your luck tomorrow.
As a new player, i am still leaning this hard skill.
The other thing is with a demo, the game is intertaining, so you tend to play anytime when you feel the wave is going to go this way.
With real money you can't play everyday, i personally, try to play only when i feel i have 80-90% chance of winning, i also try to play only home runs, i.e waves that are moving from extreme peaks or from extreme lows going up.
that is an advise from a biginner practising how to handle temper.
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