How to follow a successful trader? - page 3
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Jim Rogers says: Experience taught me that experts are wrong most of the time. The reason for my success in the financial markets is the fact that I see the world from another point of view.
There are two ways in which we can follow a successful trader. If he has a training course, then we can pay him to learn forex trading from him. OR if he has a signal service, then we can pay him to follow his signals.
There are two ways in which we can follow a successful trader. If he has a training course, then we can pay him to learn forex trading from him. OR if he has a signal service, then we can pay him to follow his signals.
Well, So how are you going to know whether they are successful or not ??
There are number of brokers out there which would provide you with the option of copying trades from other traders, you may try this at your own risk.
There are number of brokers out there which would provide you with the option of copying trades from other traders, you may try this at your own risk.
You are right, this option is new but effective you need to test any good trader's signal in demo for some days and then you can follow him easily.
some good traders offer their trades in forums or through blogs and sites even social media, its ok to keep track and analys. and you can take it from there choosing what trade to do.
To be a successful trader, we must improve our trading skills. Our trading experience will also help us to make our skills be better. Keep learning and making practice here
How do we know that someone is a successful trader?
Fake reports everywhere - you must be an expert to spot if it is a fake or not. And then you don't need an expert any more
Trading is business it is very serious business. If you are chart analyst then you have cardiogram of market in front of you. It is your choice what to do in such situation. you cannot copy others, you can take lesson from them. you will have to develop decision making skill. Your every false decision may cause serious problems. whatever indicators you are using to help you you must master its characteristics and then and then add in your own trading system.Trading also requires good mental health which helps you in decision making. There is cycle good trades increases your confidence and confidence increases decision making but there should be control of awareness. Really it is serious business.
You can not
You would have to have the same account size as the trader you are trying to follow (otherwise the risk will never be the same). Does not help if you see the account balance and equity : different brokers have different margin call and stop out levels