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Better Results

Discussion in 'Forex Trading Room' started by gerry26, Nov 5, 2009.

  1. gerry26

    gerry26 New Member

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    There is one error that is common amongst novice traders and guarantees that they will join the 90% of losing traders.

    The biggest error traders make in online forex trading is:

    Traders, who think that others such as:

    Mentors gurus and systems they buy can give them success - This needs a bit more explanation, consider this:

    1. Why is the advice being sold?

    Think about it if someone is really a good trader why are they selling advice? The answer is most advice is sold by writers and failed brokers who can't make money from trading and simply make it selling advice!

    You have seen them earn 10,000 a month easily, win on 70% of trades, an automatic way to make profits etc
     
  2. somefxtrader

    somefxtrader New Member

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    Getting good guidance in trading here in forex can be great help for traders and with good guidance the traders will gain easy profits.If traders are guided well then the traders can be able to understand the market even more properly and they may have more profits.But if traders donot learn at all to trade and they have no proper guidance even then it can be very hard for the traders to have more profits. a trade management is the key to success, for 1:500 leverage ratio upon my Tickmill ECN account, I use 2% risk for each trade, in other words I use 0.01 lot size for each 500 deposit amount. which appear a stress free trading setup for daily uses.
     
  3. sininfinity

    sininfinity Active Member

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    Why people go to school? Why they earn a degree? Their purpose is to work for a firm to get a big salary. Then why?

    Mentorship is necessary. But when it comes to forex people look for profit and not education. A mentor may not make one profitable but can make the learning process much easier then doing on your own.
     
  4. vic84

    vic84 New Member

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    Yes definately , if you could get a good mentor then, you should get guidence from him, even if its paid, as your learning becomes fast and you will be able to save valuable time.
     
  5. platinumtraderfx

    platinumtraderfx New Member

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    I won't recommend to use paid services or hire any paid mentors because they won't teach you how to trade profitable, they can explain you market theory and some trading basics and teach how to trade on demo. It's better to carve out the trading success with own path of trials and errors. Lose a couple of deposits and get experience you may spend years with mentor. If you still want to attend some Fx webinar or get trading lessons I can advice Hotforex webinars with Janne Mutta tutor I'm frequent visitor of their webinars and like them very much.
     
  6. sininfinity

    sininfinity Active Member

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    In my previous posts I mentioned why people should look for a mentor. When it comes to forex, why people look for free mentor ship? Forex is the largest market in the world, and why trader teach other people for free? People think mentoring is some kind of charity when it comes to forex.
     
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