Don’t follow the beginners, but do follow the experts

Discussion in 'News, planned work and promotions' started by priyan, Aug 22, 2019.

  1. priyan

    priyan New Member

    Rookie traders have the habit of following the beginners, why do you think it happens? It is pretty simple to understand. Novice traders can relate themselves to the beginners, so they feel comfortable in following the beginners. But this is not right because beginners will not help you achieve your trading goals. Many new traders in the United Kingdom have succeeded, and they have achieved their trading goals by learning from the experts. Some intermediate traders are trying hard to become better, so they look up to traders who are better than them. They look up to traders who have achieved more than them. This should be your strategy too. Only if you follow the ones who have achieved their goals in trading, you will be inspired to the same.

    Moreover, when a trader follows a beginner, he or she tends to repeat the same mistakes. Many beginners enter the market as if they enter casinos. They don’t think of trading techniques, strategies, methods, and skills because they assume trading is just like gambling. This is why you must look up to experts when you are trading Forex.

    95% of the retail traders are losing

    Majority of the new traders start to trade the market with great enthusiasm. But after trading the market for few months, they blow up the trading account. Being a new trader, you need to use the Saxo demo account and develop your trading skills. Without having the right skills and a balanced trading strategy, it’s impossible to become a successful trader.

    Why only a few traders become experts?

    Is there a spell or magic in Forex trading? How do only a few traders manage to become successful? Aren’t beginners thriving to become better? Why is the percentage of losers higher in trading? You should know that experts in the UK did not enter the market with a developed Forex trading account UK. They entered the market with a normal account, just like you and other beginners. But their way of trading was different than yours. They did not give up easily. If you are thinking about why most beginners lose, it is because they don’t ‘think’ about winning. Only if you think about winning you will be able to do it. Especially, you should have the determination and consistency in your journey. Without these factors, you will not be able to become successful in trading. You should be ready to do what it takes if you want to become a successful Forex trader.

    What are the things you should change?

    Now you know that you have been doing it wrong. You have been following the beginners, and it is wrong. What should you do to correct the mistake? Of course, you should be consistent and dedicated to trading. Apart from those, what else should you change? Know that experts remain in a single trade more than you do. What do you think that you differently do when compared to this habit? You try to remain in two or more trades at a time. Even if experts remain on a trade for a prolonged time, they do it with caution. They study and analyze the trade beforehand. Hence, you should learn this habit from the expert traders.

    Don’t be greedy when placing stop losses

    If you want to become an expert, you should master the art of stop-loss placement. It is one of the important things in Forex trading. If you learn and understand it, you will be able to protect your trading account better than ever. However, the lesson you should learn from experts is to place stop losses wisely without being greedy!

    Summary

    These three points will clear half the confusions in your head. You will realize how you should look at the Forex market as an expert. If you begin slowly, you will be able to achieve what the experts have achieved and more!
     
  2. AleFizark1

    AleFizark1 Member

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    Thomasereve Member

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    DerrickAcilm New Member

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