Where do you develop your trading techniques?

[Decub]

Forex is such a complex business that one need not rely on one source or confine himself to a particular source in a bid to learn how to trade more effectively.

A lot of means are available both online and offline that helps a trader develop in his trading career. Some of these sources include; websites, blogs, fan pages, e-books, manuals, forums, communities demo account, real account, tutors etc.

Different traders have their preferences when it comes to choice of skill development. Where do you feel is the best for a trader to develop his skills and which do you prefer?

 

[sindarin]

I develop my skills or technique through demo account, why? that is the best place to do trial and error, actually i am trying to minimize to make trial and error but in fact it is something that sometimes could happening so in order to allow something like that to happen i prefer demo accout more than real account.

 

[syai77]

I've develop my trading skill from Liteforex broker with following their demo contest and opening real account there...
Now, lite open new contest "Supermarathon Liteforex" contest..
The prize $30000 for 20 winner guys...
It have chance for us...
let's join....

 

[Decub]

@sindarin, sure, that's a great place I think every trader needs. It is the only place that gives you the benefit of playing around different trading strategies without necessarily thinking much about losses. It accords you the opportunity to trade as though you are trading in the real account and enjoying all the benefits thereof without risking your investment.

 

[willy]

when i involve to forex i was trading depending on luck but now i am testing any strategy which i will trade with it in my real account with emo account and i am try to develop it with demo account and explore the disadvantage of any strategy

 

[gkintl]

The best way to develop a trading strategy is through trading experience. It need not be trading in a real account. Even demo trading will do well in creating a reasonably effective trading strategy. A trader can opt for e-books and forums to understand the principle behind the development of a trading strategy. While some of the strategies shared in forums are very effective, others are not. This is because application of a trading strategy demands complete understanding of the same and only the creator knows it very clearly. So, complex strategies taught by others may not work for a beginner. The crisp of a good strategy can be taken up and then rebuilt to suit our trading needs. That is how I did it.

 

[kasual]

I am develop knowledge via free forex school, forums, ebooks, and reading articles. And implement what I get via practice in demo account. Develop trading technique basically require long trading experience. And has been tried many thing and thus, can make comparison which is better to apply and which is don’t.

 

[Pettyeve]

I develop my trading techniques by reading from different websites and trading in the demo account. When I was learning how to trade, I used to stay with my laptop on you tube to watch some traders trade and how they execute their others. I will then copy it down and follow the same procedure after making my analysis.

 

[Decub]

The main reason there a lot of traders trading these days is because there is the internet where so many can easily grab the trading knowledge. For a trader who does not have a private tutor, which I'm sure a lot of traders don't have, the internet is always the best option to learn.

 

[kasual]

I am test strategies in demo account, and measuring the weaknesses based on ability to adapt with the changes. If strategy give losses every time market changes, and it in high amount, mean strategy doesn’t prepared still to use to trade in live account. Require further development and it mean, I’ll need to use demo account longer.

 

[tray]

That is great and I also guess that demo account is the right place for any trader to start from its the place where you gain much more knowledge when its come to forex our knowledge and skills can also be develop from there

 

[budado]

I did develop my own trading skills by practicing existing strategy. At first I got lock multiple times using hedging. But through experience I realize that I can earn good amount of money in forex trading without really getting worried. Now I'm happy that I earn good in forex trading hedging strategy.

 

[Decub]

I think it's even the best way one can achieve that. To develop your strategies well, you need to also practice well. There is no gain in not doing it right and even though it takes the whole time on earth, it really doesn't hurt getting it right enough.

 

[budado]

I just adopt hedging after I practice as many trading strategies that I studied. So far I do scalping, hedging, averaging and even swing and martingale strategy. But I do have one major strategy and that is hedging.

 

[avelaskes]

I develop my technique through cent accounts since they are more real then demo ones and this will not let me relax. Unlike to the demo accounts for cent I feel that in the case of improper movement I will lose money, even though very small. But On the other hand, you are honing your own skills and do not lose much.

 

[budado]

I just keep on practicing and keep on trading in real account. I already have 20 trading accounts so I am happy earning online right now. I keep on trading and hoping to learn and become a big time trader some day.

 

[pinyin]

we can trade with demo account. you can join in some group trader. you can learn many thing from other trader. they can give you great advice

 

[TenkoFX]

A good forex trading strategy will not actually be a forex system, but an analysis that breaks down several different areas of the market itself that will consistently produce a profit. You need to develop a way to spot trends and quickly and accurately as possible so that you can take full advantage of them when they occur.

 

[sindarin]

First you should try demo account and then real account, but i rarely see someone who dare to use those experimental strategy to real account without ever trying demo account first, for me that is suicide. In demo account we could do nearly anything and if something wrong we could fix it later.

 

[sininfinity]

Following someone else's trading technique did not do any good to me. I used various and almost all of them did not work for me. My trading technique was developed from trial and error. Making mistakes and improving from it.