We need to start learning from our own mistakes in the trading and also use the forex forum resources to learn about the markets trends as well. This will help us in becoming good traders.Originally Posted by FxPro Trader
We need to start learning from our own mistakes in the trading and also use the forex forum resources to learn about the markets trends as well. This will help us in becoming good traders.
"There is no doubt that every new trader needs to be experienced in trading to earn a reasonable profit.
Spending a fair amount of time in forex can help the trader gain good exposure before entering into a live account.
I agree new traders need more experience as well than just forex knowledge. That is why there is a demo account to provide beginners with the live trading experience and get familiarized with their software.
You cannot earn a profit in forex without taking certain risks. Hence, the best way to learn about forex trading is by gaining experience, and the experience should be from live trading as well, and should not limit it with demo accounts.
Those traders who are new in the business of Forex trading have to increase their trading related skills and knowledge. In this way they would be able to gain more valuable trading experience and also start getting more profits from their trades.
Yes, new traders indeed need forex trading experience, but it should be from both Demo and Live accounts. Using a demo account, you gain the knowledge of understanding the software, and by live trading, you gain the experience of understanding the market.
When i started doing my trading i made use of the Demo trading accounts. With the help of the Demo accounts we can easily get more profits in our trades and without any risks of the losses.
New traders indeed need more experience, but some prefer sticking with only gaining experience in a demo account, which is not the right way.
Trade using live accounts with lower capital to gain knowledge about live markets and their trades.
Traders that are new in forex trading need to increase their trading skills and build knowledge to understand the forex market. By doing so, they would gain valuable trading experience and will also be able to earn profits in live trades.
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