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- 90% fail, but maybe more succeed than we think?Started Jan 24, 2023|Rookie Talk|8 replies
You hear all the time that 85-95%(depending on where you get your info) of traders fail. I've heard ...
You hear all the time that 85-95%(depending on where you get your info) of traders fail. I've heard ...
I think the biggest risk is people not sticking to a solid risk management plan. How many of us have let our emotions get ahold of us and moved stop losses when we knew better?
why forex is so risky?I agree its recession proof. The number might be headed up or down, but so what, just trade it.
So easy to trade during this coming recession?I think you need to keep your eye on the ball. Be patient and do the work. Forex is like any other job, you aren't going to get rich quick.
How to get the mindset right?I'm sure around the holidays in the US things change some, but just adapt to what you have to work with. Or take that time off for a break.
bad months for forexIf I listen to music I'm really into then I'll get distracted, so I usually put on something like the sound of rain to sort of block out other sounds and be sort of neutral.
What kind of music you hear while you trade?Yes, of course you want to demo first. Would you try to fly a jumbo jet without sim time? You can learn for free trading demo, starting out trading with real money will be an expensive education.
Is demo a step before real trading?I would suspect that most lose motivation because the riches don't come overnight. We all see the "How I turned $100 into 2 million in just one week" videos, and all the videos with the girls and the lambos and many fall for it and think forex is ...
How do you newbies not lose your motivation?I think professional traders are only targetting a few percent a month. That seem ambitious. That sounds like throwing risk management out the window and yoloing it.
10% per dayI think it probably could, but that's alot of screen time. Think effort vs. reward. I think some of the more profitable traders are swing traders, atleast that's my impression. It's also a lot of constant stress watching the ticks go up and down ...
Scalping! Can it really be profitable in the long term?