I have been paper trading on my own for about a year, but just can't seem to actually make a profitable trade. Are there any good courses that teach how to trade the forex markets? Or, are there any fx bots that actually work. All the web sites say that they have the best bot around. Thanks for your input.
wibble1234
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Hi fxboy,
If you have been trying for a year but are still doing badly then you probably need to think whether trading is the right thing for you. As you are paper trading you should have a record of your losing trades. Have you analysed them to see if there is a pattern in what you are doing wrong?
Certainly don't pay for any fx bots - they are mostly scams that will quickly drain your account.
Courses are likely to be a waste of time money as well. Better to spend your money on some good books - Amazon will have books on whatever kind of trading you are interested in.
There's so much free (i.e. this web site and others) or very cheap (books) information out there - there should be no need to part with serious money for dodgy bots or dodgy courses.
If you have been trying for a year but are still doing badly then you probably need to think whether trading is the right thing for you. As you are paper trading you should have a record of your losing trades. Have you analysed them to see if there is a pattern in what you are doing wrong?
Certainly don't pay for any fx bots - they are mostly scams that will quickly drain your account.
Courses are likely to be a waste of time money as well. Better to spend your money on some good books - Amazon will have books on whatever kind of trading you are interested in.
There's so much free (i.e. this web site and others) or very cheap (books) information out there - there should be no need to part with serious money for dodgy bots or dodgy courses.
I'd have to second what wibble says here.
But I would add that trading for real is much different from trading on paper. The fact that you've been unsuccessful on paper isn't the best omen for continuing into the real world of trading. We can't all be world class violinist and we can't all be world class traders.
That being said, If you wanna learn some fundamental trading lessons/facts get 'Reminiscences of a Stock Operator' from Amazon Amazon.com: Reminiscences of a Stock Operator: Marketplace Books: Books
We've also got some solid stuff on our website you can check out (100% free of course) - TradeCamp – No 'bs' trading education
Good luck!
But I would add that trading for real is much different from trading on paper. The fact that you've been unsuccessful on paper isn't the best omen for continuing into the real world of trading. We can't all be world class violinist and we can't all be world class traders.
That being said, If you wanna learn some fundamental trading lessons/facts get 'Reminiscences of a Stock Operator' from Amazon Amazon.com: Reminiscences of a Stock Operator: Marketplace Books: Books
We've also got some solid stuff on our website you can check out (100% free of course) - TradeCamp – No 'bs' trading education
Good luck!
intradaybill
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If you can provide more information about your trading method maybe some here would be able to help you with what is wrong with it.
- Do you use TA, news gut feeling?
- Do you place stops?
- Have you backtested your method ?
Just a few questions.
Forget about easy methods. No shortcuts here. If you don't learn it on your own, you will not learn it at all. Don't hope that anyone will "teach you". Just imagine - if you were profitable trader, would you sell all your tricks or earn money with it?
Hi Wibble,
I have been paper trading on and off for a year now. I get discouraged so easily when I dont make a profit on a trade. Then I'll stop trading for a couple of months. I just want to make a winning trade right a way. I think I will slow down and buy some good trading books and just start all over again.
Thanks for your help
Fxboy
I have been paper trading on and off for a year now. I get discouraged so easily when I dont make a profit on a trade. Then I'll stop trading for a couple of months. I just want to make a winning trade right a way. I think I will slow down and buy some good trading books and just start all over again.
Thanks for your help
Fxboy
Hi tradecamp,
Actually my one year of trading when compressed into actual trading days may only be a couple of months. I get discouraged so easily and than stop trading for a few months. But I will try your recomended web sites for trader education.
Thankyou for your help
Fxboy
Actually my one year of trading when compressed into actual trading days may only be a couple of months. I get discouraged so easily and than stop trading for a few months. But I will try your recomended web sites for trader education.
Thankyou for your help
Fxboy
Hi Intradaybill,
I have been trading on and off for a year now and if you add up the actual time I have traded, it would probably be 2 months. So I think I will go back to the drawing boardand buy a few books on trading and read and just take my time learning.
Thanks for your help
Fxboy
I have been trading on and off for a year now and if you add up the actual time I have traded, it would probably be 2 months. So I think I will go back to the drawing boardand buy a few books on trading and read and just take my time learning.
Thanks for your help
Fxboy
Hi Disi,
Well I think you are right. I am going to buy some books and read up on how to trade before I try this again.
Thanks for your help
Fxboy
Well I think you are right. I am going to buy some books and read up on how to trade before I try this again.
Thanks for your help
Fxboy
Tenapenny
Experienced member
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Try here Forex Training Online: Learn Foreign Exchange (FX) Currency Trading and as said previously, don't throw your money away on expensive courses or bots. Persevere and you may well get there. Good luck.
jiggly
Well-known member
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you may want to consider if this is really something you want to persue.....the road is going to be long and painful and you might not end up where you wanted to be, either.
hi there....
its good to have theoritical knowledge, but yes..it will not help you when you are practically doing it. So stop reading papers for trading....start trading the markets with play money and understand for yourself of what actually is a market and how the trade movements will take place?
There is nothing great than self-experience. try practicing trades with play money account. I can suggest gnutrade platform ....
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