How do people fail at this?
- Thread starter ark93
- Start date
Thanks everyone for the (mostly) helpful and constructive responses. I figured some luck early on =/= sustainable gains, that's why I asked to find out where other people hit roadbumps. It seems like a lot of people talk about their personal experience where they did really well at first only to lose it all later! Nothing new under the sun eh?
Anyway I'm still in the phase where I'm trying to find where my interest lies and what type of trader to become, before I started practicing with forex I had multiple stock trading accounts that I've been practicing on for a few months now... some ups and some downs. I might go back to stocks... but I figured it'd be a good idea to stay away from them for a bit since it seems like the U.S. economy is gonna hit the fan soon... I don't want to start my career in stocks as soon as that happens! So I figured I might learn forex and see where it takes me. I guess either is fine as long as I'm learning right? As far as the psychological aspects... maybe I'll start with small sums of real money and see how my emotions fare.
Also I think some people misunderstood me. I do not consider myself to be a good trader. Quite the contrary... the main point was the fact that like I said I am new to trading and that I was skeptical that someone as unskilled as me could make such returns. There's no way that someone with so little knowledge could make those returns when there are so many people who devote years to mastering the trade and absorbing volumes of knowledge. If it was that easy then who would go to work, right?
Anyway, thanks for the advice. Perhaps I'll stick around and give updates later... but for now it's back to the simulations!
Anyway I'm still in the phase where I'm trying to find where my interest lies and what type of trader to become, before I started practicing with forex I had multiple stock trading accounts that I've been practicing on for a few months now... some ups and some downs. I might go back to stocks... but I figured it'd be a good idea to stay away from them for a bit since it seems like the U.S. economy is gonna hit the fan soon... I don't want to start my career in stocks as soon as that happens! So I figured I might learn forex and see where it takes me. I guess either is fine as long as I'm learning right? As far as the psychological aspects... maybe I'll start with small sums of real money and see how my emotions fare.
Also I think some people misunderstood me. I do not consider myself to be a good trader. Quite the contrary... the main point was the fact that like I said I am new to trading and that I was skeptical that someone as unskilled as me could make such returns. There's no way that someone with so little knowledge could make those returns when there are so many people who devote years to mastering the trade and absorbing volumes of knowledge. If it was that easy then who would go to work, right?
Anyway, thanks for the advice. Perhaps I'll stick around and give updates later... but for now it's back to the simulations!
people always want to earn millions right after making the first steps. and that's why many of them lose enormous amounts of money in Forex. to be prepared and informed is the main formula of success. if you are a beginner and have no practice, try Demo account first. it's free of charge
Give up if you won't go for programmable trading. Trading manually with high leverage in forex is sheer hell.
If you are making money in sim, then your approach is on target at least. Even making in sim is not straight forward.
I would say just jump into live small size, and see if it changes anything for you. You may run into some new obstacles, but either way you can make it.
This is a more reasonable reply I have seen here, it's better to encourage the guy than bring him down. It could go either way for him, he should just try because we all started from somewhere.
No the main point which you haven't seem to pick up on yet, from prior posts, is that demo is NOT real.
Not even close to real.
How would you define real, because am sure there is a purpose why demo was created or designed in the market..
Really, you need real to be defined?
Demo's only real function is learning how to use the platform plus sell the public on the particular broker's service.
No money changes hands. "Nothing ventured, nothing gained". Plain and simple.