You should expect consistent profit only when you start making consistent profit at least on demo or in backtests - there is no set timeframe for that this will happen. For some people, it takes years to become profitable Forex traders.I'm a beginner in forex and would like to know when should a beginner expect for consistent profit ?
Yes, you definitely should proceed with a small live account when you are profitable on demo. This will allow you to test your skills with live market execution and live account emotions. It will also let you to test your broker without committing lots of money.Should i start with a small capital in live trading even if i'm good in demo, because the demo and live is said to be different while trading ?
I can say that trading in the Forex markets will not always give your profits, so you need to do selective trading and stay away from such trades that will result into a loss.It's true that getting a profit consistently is hard as the forex market is highly volatile.
I can say that trading in the Forex markets will not always give your profits, so you need to do selective trading and stay away from such trades that will result into a loss.
Agreed! But with hard work and practice, it becomes relatively easier.It's true that getting a profit consistently is hard as the forex market is highly volatile.
That's correct. Do you know a good mentor? I'm looking for one.Agreed! But with hard work and practice, it becomes relatively easier.
And with good knowledge!Consistent profit is difficult, but not impossible. With good planning and practice, it is definitely possible
Consistency is not something you'll be able to achieve early. Many experienced traders still struggle for it, but with constant practice and trading, surely soon.I'm a beginner in forex and would like to know when should a beginner expect for consistent profit ?
Should i start with a small capital in live trading even if i'm good in demo, because the demo and live is said to be different while trading ?
Yes, major bunch of beginners do not reach that stage of success, because they somewhere prefer quitting than putting in those efforts in this market. It is all about choices.Consistently profiting is next to impossible for the vast majority of traders out there. That is not to say that such traders don't exist - they certainly do, but getting there involves a lot of effort, stress, and often - lost funds.
Many times when we are actually doing our trades then we cannot get the profits. This is when the losses in our trading accunts start to accumulate. We need to do such types of trades that can give us more profits then the losses to be able to get consistent profits from our trading.Yes, major bunch of beginners do not reach that stage of success, because they somewhere prefer quitting than putting in those efforts in this market. It is all about choices.
Yes! Practice is a must here in forex and demo account makes for a good practicing way for traders.It is really hard to make consistent profit but not impossible as there are a lot of successful traders who are making profit regularly, make a good trading strategy, don’t let your emotion play any role and practice on demo.
If we will keep doing practice in our trades then we will become better Forex traders and our error margins will also start to come down.Yes! Practice is a must here in forex and demo account makes for a good practicing way for traders.
Good thoughts. But for different people it can take a different amount of timeIf we will keep doing practice in our trades then we will become better Forex traders and our error margins will also start to come down.