Every newbie in forex trading are bound to ask this question: "How will i get success" after 3-4 months. Its so obvious. In the beginning forex seems too easy however, suddenly after 2-3 months its getting harder & harder, and eventually it doesn't make any sense at all.
Forex starting to look like "Totally Random"
Answer is: Yes, Its random
Why? because, when you don't know what going to happen. When NO ONE knows what going to happen? It is random that time.
Now, question is: How can we success in this random market?
Answer is: Practice, Practice & Practice... & testing, testing & testing... & eventually you will find a system that will work in the long run.
One advise to newbie forex traders.
Don't go for quick pips or quick gains. You may win or gain huge amounts of profits in short run however, in the long run, you will lose all of your accounts.
So, focus on long run trading, gain a little but keep it & move on.
Let me give you one instance....
Mr X earn 300% ROE in 1st month... then 100% ROE in 2nd month... then 150% ROE in 3rd month. However on 4th month he blow up his entire account.
Result: After 4 months all is gone!!
Mr Y earn 2% ROE in 1st month... then -3% ROE in 2nd month... & keep going in like this... after 1 year his total ROE is only 10%
Result: after 1 year 110% equity!!
Now, take a look & ask yourself.
Always remember this: "In forex it doesn't matter how fast you can run, rather all it does matter how long you can survive"
My gift to newbie & forex expert traders: Black Obsidian | A Master of Forex EA
Forex starting to look like "Totally Random"
Answer is: Yes, Its random
Why? because, when you don't know what going to happen. When NO ONE knows what going to happen? It is random that time.
Now, question is: How can we success in this random market?
Answer is: Practice, Practice & Practice... & testing, testing & testing... & eventually you will find a system that will work in the long run.
One advise to newbie forex traders.
Don't go for quick pips or quick gains. You may win or gain huge amounts of profits in short run however, in the long run, you will lose all of your accounts.
So, focus on long run trading, gain a little but keep it & move on.
Let me give you one instance....
Mr X earn 300% ROE in 1st month... then 100% ROE in 2nd month... then 150% ROE in 3rd month. However on 4th month he blow up his entire account.
Result: After 4 months all is gone!!
Mr Y earn 2% ROE in 1st month... then -3% ROE in 2nd month... & keep going in like this... after 1 year his total ROE is only 10%
Result: after 1 year 110% equity!!
Now, take a look & ask yourself.
Always remember this: "In forex it doesn't matter how fast you can run, rather all it does matter how long you can survive"
My gift to newbie & forex expert traders: Black Obsidian | A Master of Forex EA
It is the dust where you came from & it is the dust where you shall return