Aaaargh! Not again!!!! Shoot me now!
Next thing we'll have someone telling us that trading is not gambling.
Aaaargh! Not again!!!! Shoot me now!
Next thing we'll have someone telling us that trading is not gambling.
samnakthong
Member
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- 0
It's not betting.
Get 15 points profit every day and you've done it. That's my target and very achievable.
Get 15 points profit every day and you've done it. That's my target and very achievable.
TradeManiac
Newbie
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Hey I dont think its a dumb question at all. People should know what they are getting into before they start spending money. I have been trading for almost 5 years now and i can tell you if you want to succeed in any market you need to take a course. If you do that you are not guaranteed to succeed but you do stand a chance. You should also start with a demo, but be realistic in the amount of money you use in your demo account. If you would really open a live account with 10k then use a 10k demo account not 100k. Make it as real as possible. 
Hope I was helpful..
Good Luck!!
Hope I was helpful..
Good Luck!!
jaspertrademaster
Active member
- Messages
- 133
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- 4
JTC172, I definitely agree with you and dealer911
free is good, don't waste your money on any course, you're already going to spend a lot of your time.
as for your question, I think discipline is what distinguishes winners from looser in trading. In fact, I think this applies to pretty much everything in life, not just trading.
as for your question, I think discipline is what distinguishes winners from looser in trading. In fact, I think this applies to pretty much everything in life, not just trading.
Tenapenny
Experienced member
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- 46
At the moment I aim for 50 pips a day profit but let them run if they look promising, as everyone should. Stops and orders all in place when I walk away from the screen.
nline2lo
B
Black Swan
30/40 pips every 24 hrs (sun-fri) from 8 currency pairs...
Aj... first off... congrats on deciding to trade... But there is nothing wrong with digging ditches for a living... hey i did it for years, its an honest living... its what funded my trading costs, accounts and education. i suggest you keep a day job until you have become a consistent trader... learning to trade with money you need to have for the bills is bad idea emotionally. this was a post i made on another forum website that ill just copy and paste. But first ill give props to shanghai... he is 100% right on with his answer!
The question on the other forum was... how long does it take to be a good trader..? i feel it will serve good purpose here though
Great Question... well to hit the subject on a brief note... there are 5 musts to not only be a good trader but a consistent trader... everyone can be a good trader... have you seen the etrade commercials there right a baby can place trades...but to be consistently profitable is another story..
1.A trading method(system). you obviously need to know pattern, charts, and behaviors of markets, to find entry and exit points of trades.
2.Money Management... No brainer, if you don't you'll blow your account.
3.Control Emotions. Keep your greed and fear in check.
4. Discipline... ability to ALWAYS... not sometimes... but 100% of the stick to your method, money management, and controlling emotions...
5. And of course. Practice, practice, practice.
the biggest hurdle for most is #3 and #4... many novice traders especially after a loss assume that they need more market knowledge to conquer the markets... but in reality they need to start within themselves they need to get control of there mind and emotions. if you are new to trading or if you have been doing it for years, if you have a hard time not detaching yourself from the markets and your mental and emotional state is up and down as you trade with the markets... my first suggestion... GET A MENTOR... i did... or work with someone you may or may not know that trades everyday with discipline...
So back to the subject of how long it will take you depends... how disciplined are you to stick and do 1 2 3 4 & 5 EVERY TIME you sit down to trade...
good new is everyone can learn... its obtainable if your deticated... I mean i only have my high school diploma and i make money every week trading... if i can do it you can to... stick in there dont let anyone tell you different.
The question on the other forum was... how long does it take to be a good trader..? i feel it will serve good purpose here though
Great Question... well to hit the subject on a brief note... there are 5 musts to not only be a good trader but a consistent trader... everyone can be a good trader... have you seen the etrade commercials there right a baby can place trades...but to be consistently profitable is another story..
1.A trading method(system). you obviously need to know pattern, charts, and behaviors of markets, to find entry and exit points of trades.
2.Money Management... No brainer, if you don't you'll blow your account.
3.Control Emotions. Keep your greed and fear in check.
4. Discipline... ability to ALWAYS... not sometimes... but 100% of the stick to your method, money management, and controlling emotions...
5. And of course. Practice, practice, practice.
the biggest hurdle for most is #3 and #4... many novice traders especially after a loss assume that they need more market knowledge to conquer the markets... but in reality they need to start within themselves they need to get control of there mind and emotions. if you are new to trading or if you have been doing it for years, if you have a hard time not detaching yourself from the markets and your mental and emotional state is up and down as you trade with the markets... my first suggestion... GET A MENTOR... i did... or work with someone you may or may not know that trades everyday with discipline...
So back to the subject of how long it will take you depends... how disciplined are you to stick and do 1 2 3 4 & 5 EVERY TIME you sit down to trade...
good new is everyone can learn... its obtainable if your deticated... I mean i only have my high school diploma and i make money every week trading... if i can do it you can to... stick in there dont let anyone tell you different.
