Well said. More so, its game of psychology and someone with a strong mindset will surely survive for longer in trading. So we must focus on keep our calm and not losing patience and hope.
On giving tips for beginners
- Thread starter Nobert
- Start date
To be successful in the financial markets, you need both a strategy edge and a mindset edge. If you don't have either of those, you need a marketing edge to sell everyone else on the idea that you have a strategy edge. 
I agree with @formikatrading
Some things are important in this market, without which it becomes difficult to lead a good journey here. Having a good tested strategy and a planned balanced mindset are some of them.
Some things are important in this market, without which it becomes difficult to lead a good journey here. Having a good tested strategy and a planned balanced mindset are some of them.
A trader has to be very alert in understanding the market moves. For that he needs to have a strategy well in place and sometimes there are even times that circumstances lead you to change your strategy for favorable results. So uncertainty is very common, we need to know how to deal with it.
I think finding an approach is a matter of trial and error. A trading style is one such thing which cannot be copied from one and another because of the difference in the emotional and technical aspects of the individuals. We cannot just look for a strategy and implement it in our trades because some other person is using that strategy.
People usually learn a lot about forex trading but on other hand there are an equal number of the people who do not think of these differences. They go with the tagline on google search engine for the best brokers in the market and I cannot stress enough that brokers will not make you profit; it is the strategy and timings that will help you to grow.
Exactly!!! People are always asking about the brokers but not the platforms. There is a huge difference between brokers like Avatrade offering proprietary trading platforms and market standards like MT4 and MT5 offered by numerous brokers like Fxview, XTB, Fxtm etc. These are the important things to consider whether you want to write your own EA’s and forex bots or use services of some other company. These are the questions on which your choice of broker is dependent.
The best broker in the world cannot do anything if the market itself comes crashing down and if traders didn’t anticipate this catastrophe on time, or didn’t use proper stop losses to at least save some money.
The proper charting techniques and indicators are necessary to define the trading style. A strategy can be the same for everyone because if you are doing price action trading or day trading some other person is also using the same technique. The difference between the two is that (or the matter of fact in everyone) the indicators, the charts or the timings of the trade will be different. The broker then comes into play when all of these things are sorted. For example I need low spreads, high leverages and mobile trading, so I choose multiple brokers i.e. Fxview and XM because it gives me the features which I want according to my ‘trading style’.