Friday, February 23, 2007

How is trading in FOREX? -

I tried 1 monthtrial account need suggestion should i go for the real ting now? Did you develop a successful Trading Plan? Remember, plan your Trade and Trade your Plan!! You MUST read through this site before doing anything http://www.online-futurestrading.com/ N.B: I am NOT associated with the site. I am a budding day trader and this site has very good advice. My advise is try Again. until you see that u have made Double the original amount. If you can make double the amount twice with a free demo, i say i want to give you my money, to trade for me. The other thing is, with demo money, you don t get to see how your emotion will influence your trading. that is why they say 90% of new traders lose their money in a long run, your enemy is emotions and hoping that the wave will reverse, therefore holding a long losing position. What i have leaned is this. The art of winning, i think comes from training your self(emotions) how to lose for a day, and trying tomorrow your luck tomorrow. As a new player, i am still leaning this hard skill. The other thing is with a demo, the game is intertaining, so you tend to play anytime when you feel the wave is going to go this way. With real money you can t play everyday, i personally, try to play only when i feel i have 80-90% chance of winning, i also try to play only home runs, i.e waves that are moving from extreme peaks or from extreme lows going up. that is an advise from a biginner practising how to handle temper.

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