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  1. #1
    Senior Trader
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    How we can develop our trading experience?

    When traders talk about experience, we only consider it to be for only those who have been in the market for a longer period of time but I think it is not so, we have two stages of experience of Forex trading and they are:

    First of all: The experience a trader first gained when he is doing is demo trading. This is when a new Forex trader is more relaxed and he is ready to observe a lot of things from the market as he is trying to develop his own pattern of trading. In the demo he starts seeing those things he has been taught in Forex books and videos. Nobody is telling him that again but he is seeing it himself.

    And 2nd stage: On the other hand, this 2nd experience comes after a trader most have been through with demo account and he is now trading on his live trading account. Here he gains his experience from both losses and profits. He gains trading experience from those things that resulted to him losing and from those things he did right that made him gain profit.

    Please, I know that no one is perfect here I believe you might have a correction to make or an update to what I have just discussed. That’s way, now I stand being corrected. Feel free to share your view on this.

  2. #2
    Junior Trader
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    The role of the forex broker

    In the world of online forex trading there are the traders who make the trades and take the risk, and then there are the brokers. The role of the forex broker is something that novice FX traders who expect to make money in the market need to understand.
    The role of the forex broker
    In simple terms, the role of the forex broker is to give advice and assistance to currency traders. The forex currency market is a worldwide market that operates round-the-clock, and such a vast market is replete with pitfalls for the novice and experienced forex trader alike. Using a forex brokerage will allow the trader to do business on the currency market 24-hours a day, and the broker will also advise on the price of leading currencies around the world at any given time. Of course, in the end, whether the forex trader has success or failure with a specific trade is down to his or her own skill and decision-making, but the help and advice of a competent forex broker is always highly desirable.
    Technology and support
    Online currency trading is becoming ever more technologically advanced. New forex trading platforms, software, forex robots, and automated trading systems are being constantly developed. Because of these technical advancements in currency trading there are those who might argue that the role of the broker is being diminished, but this is not necessarily so. In most cases, forex brokerages have adapted their services to help traders take advantage of the latest technology, and many have even developed their own online trading systems and made them available to their clients. These added services provided by forex brokerages have extended the scope of trading for even the smallest traders in the world’s currency markets.
    Last edited by Moderator; 09-04-2015 at 07:45 PM.

  3. #3
    Senior Trader
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    Well, it’s a natural process! You can’t force yourself for being a good experience Forex trader; but you can work on knowledge building sector! Even, I know many successful Forex traders but they have less than one year trading experience, so hard wok pays off! By the way, I have 5 years trading experience and till now I am updating my trading skill for better trading result!

  4. #4
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    Demo is the best way to develop our trading experience. Each and every trader should utilize Demo trading option in order to practice, learn and be a skilled. Demo is not only but beginners, but also for pro traders. A pro trader can utilize demo account to test his strategy or EAs.
    Last edited by Steve nison; 09-09-2017 at 02:49 PM.

  5. #5
    Junior Trader
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    First of all, as a newbie in Forex trading, we should learn the basics of Forex and develop skills of trading. After it we should open a demo account with our broker which will help us to get and develop our experience which will be beneficial for real trading in future.

    online payment account

  6. #6
    Junior Trader
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    If you are a constant loser in the forex market and you are tired of losing to the market then get mad at loss , because it is when you are mad at loss that you will learn how to do things right . most of the time we lose to the market and we take it lightly and that is the reason we keep reapearing the same old mistakes all the time.Failure is not something that we must look with ordinary eyes, we must make up our mind to make sure that we are really tired of it .
    well then sir, nobody like to call himself as a constant loser since nobody wants to stay losing for long time. people are striving every day looking for the best solution for his problem and keep looking for something that can make him better. the only person can be called as a loser when he do this business, failed, then quit instead of keep learning and striving. no matter how many times we lose, as long as we believe we can success in this business, then carry on.
    If you are a constant loser in the forex market and you are tired of losing to the market then get mad at loss , because it is when you are mad at loss that you will learn how to do things right . most of the time we lose to the market and we take it lightly and that is the reason we keep reapearing the same old mistakes all the time.Failure is not something that we must look with ordinary eyes, we must make up our mind to make sure that we are really tired of it
    well then sir, nobody like to call himself as a constant loser since nobody wants to stay losing for long time. people are striving every day looking for the best solution for his problem and keep looking for something that can make him better. the only person can be called as a loser when he do this business, failed, then quit instead of keep learning and striving. no matter how many times we lose, as long as we believe we can success in this business, then carry on.

  7. #7
    Senior Trader
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    Quote Originally Posted by Ricard Dorman View Post
    Well, it’s a natural process! You can’t force yourself for being a good experience Forex trader; but you can work on knowledge building sector! Even, I know many successful Forex traders but they have less than one year trading experience, so hard wok pays off! By the way, I have 5 years trading experience and till now I am updating my trading skill for better trading result!
    You are absolutely right, it’s a natural process! But, long time trading experience is not only one parameter of success! In addition, I also appreciate your opinion of trading knowledge! No doubt, deeper trading knowledge is much powerful than trading experience! If you have enough knowledge but only few months trading experience, then you’ll become a good performer because of your trading knowledge!

 

 

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