Where do you develop your trading techniques?

[sindarin]

But you must do that in demo account and then try if those works in real account isn't it? The cost of trying that way is lower rather than later you must do trial and error compared to the other technique. Also the benefit of using demo account for developing strategy is that you are free from such emotions.

 

[Dmitriy Ushakov]

You also can develop your trading methods in various competitions of brokers. For example, right now the contest began at Freshforex called "Race for profit". It is timed to coincide with birthday of the company, which turned 11 years. The top ten is fighting for a great prize - 110 thousand dollars! A good opportunity to polish your strategy and increase profit.

 

[sininfinity]

@sindarin I used demo for a long time. I made many mistakes and if those accounts were not demo then I would have lost lots of money by now. May be would not even recover lol. Demo helped me before and still learning to do better when trading live.

 

[gabanda]

to develop trading techniques that we can use a demo account. The demo account only using virtual money so that we can develop trading techniques comfortably and without worry at risk

 

[sininfinity]

I think will better if we imporve with or own strategy and technique, because not always we use another trader strategy then wil suitable with us, but we stil can learn from them also to broaden insight related forex technique

That's what I do now. I had no one to tell me that. And also I would not know if I would have listened to them. I made mistakes, and learned from them. What happened is the past, and what's going to happen is up to me.

 

[lioneld]

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?

Initially they should use the demo; there is no alternative way! By the way, learning is a endless process; I have 6+ years trading experience and till now I am learning from my live trading mistakes and updating my trading skill!

 

[sininfinity]

Sound good, sometime we learn from experience and knowledge from another trader, it's not mean we will copy their knowledge, but we can use it as reference and making comparison with our own knowedge so we will can making evaluation easily

Yeah. We can always learn from others who share their experiences and use it to our own advantage. The thing we should remember is that we are in this business for profit and how we should get it is up to us and us only.

 

[Lee Mark]

Yeah. We can always learn from others who share their experiences and use it to our own advantage. The thing we should remember is that we are in this business for profit and how we should get it is up to us and us only.

I think, learning from own trading mistake is much powerful than reading others experience!

 

[sininfinity]

I think, learning from own trading mistake is much powerful than reading others experience!

Agree with you. But reading other's experiences are also helpful. We learn in different ways throughout our journey. So whatever opportunity we have to improve ourselves, we should not avoid it.

 

[Derzi]

That’s a million dollar question! Decide on whether you want to trade based on fundamental analysis or technical analysis or both. In case you want to go for fundamentals, follow online news. See what is driving the market and look for similar news for other countries. Demo account is a very good starting point.

 

[Lee Mark]

That’s a million dollar question! Decide on whether you want to trade based on fundamental analysis or technical analysis or both. In case you want to go for fundamentals, follow online news. See what is driving the market and look for similar news for other countries. Demo account is a very good starting point.

Online news? Do you have good experience on following online news? I’m asking because I have seen they are irresponsible and share lots of fake news.

 

[Oscar Shumack]

To develop trading skills, you have to do more and more practice.

 

[Andrew McCalam]

demo experience sometimes doesn't work in really account, its really true. but that not mean , it is useless. beginners level of course minimum have to spend 3-5 months in here to ensure live trading experience.

 

[Alicia Lynch]

There are many strategies to be learned in Forex trading. Constantly I try to gain knowledge from strategy. Which helps to keep my trading policy constantly updated.

 

[Cooper Truebridge]

To develop trading techniques, I need to do constant research and gather a lot of information. I have chosen a variety of books, YouTube, Google, Forex Forum as a field to collect this information.

 

[Kazumu Fukunaga]

Trading technique doesn't develop overnight. It takes years of study and practice to make a technique that gives you consistent profit.

 

[lioneld]

Leaning from own trading mistake is the best practice! But, we should try to complete our main learning process in the beginning stage of trading!

 

[Alexander Hudson]

Volatility is a threat to the traders. So, when the market is clam, you can prefer both scalping and long-term trading.

 

[Eduardo Lucchese]

We should evaluate our choice if it is auspicious for us. Primarily, rely on the analysis that is suitable for you, for example, analyzing with technical tools.

 

[SaadBinToha]

In Forex a broker serves as an intermediary. They make all arrangements for trading and take commission in the form of spread in return.