How can i increase my forex experience?
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Now i am a well forex trader but i want to know increase my forex related knowledge. I think i didn't have many idea about forex trading or technique so sometime i lost. Plz share me how can i avoid it?
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To increase experience, u only have to do more trading. If u r interested in learning then u will learn it with time. Forex strategies r automatically made when u see market movements and try to predict them. You can learn indicators from any source but u can only master it once u practice it for long time.
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To learn forex it is important that u keep track of ur past performance. If u think u r good in trading but "sometimes" u dun understand market then it is not only u. Even Pro traders sometimes dun understand market behavior and they just call it off for that day or for a specific period of time until market behavior is again predictable. So u will have to first evaluate ur current performance then u can make a plan or strategy for future.
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Originally posted by forexmetal2015Now i am a well forex trader but i want to know increase my forex related knowledge. I think i didn't have many idea about forex trading or technique so sometime i lost. Plz share me how can i avoid it?
What r u sources of knowledge so far? Do u read news and forums? Actually theoritcal knowledge has its limits. There is a stage where only practice can make ur skills better. So u need to know how good is ur knowledge at this time and do u need theoratical knowledge or practice?
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Originally posted by forexmetal2015Now i am a well forex trader but i want to know increase my forex related knowledge. I think i didn't have many idea about forex trading or technique so sometime i lost. Plz share me how can i avoid it?
Forex is about practice plus technical knowledge. Both knowledge and practice r necessary. Most of the users take strategies from forums and try to implement them but fail.
To increase ur forex experience, learn technical analysis, practice and then implement.
Stick to your rules
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You can cut ur forex learning curve by a few useful techniques. It will greatly increase ur knowledge and experience in short time.
For example u might want to learn how other forex professional traders r trading with success. You can easily invest ur own money with those professionals (there r plenty of signal services such as fxstat). Open ur own demo account. Trade same pairs which r traded by ur signal provider. Compare ur results with ur signal provider. Analyze where u went wrong and what did u have in mind. In this way u will continue learning + earning.
The good or ill of a man lies within his own will. – Epictetus
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Originally posted by ironicalYou can cut ur forex learning curve by a few useful techniques. It will greatly increase ur knowledge and experience in short time.
For example u might want to learn how other forex professional traders r trading with success. You can easily invest ur own money with those professionals (there r plenty of signal services such as fxstat). Open ur own demo account. Trade same pairs which r traded by ur signal provider. Compare ur results with ur signal provider. Analyze where u went wrong and what did u have in mind. In this way u will continue learning + earning.
A good piece of advice.
Usually people spend while learning but with this method u can learn as well as earn (if ur signal provider is good). With this method u can even open a small real account of urself and start practicing. Your loss will easily be covered by income coming from ur managed account.