Re: 5 Things I have learned in 5 years of trading!

#21
Every thing seems impossible when you see all these others out there making money (or not) fake it or make it either way all seems like most peoples view on social media. I am looking for is a way to build my own capital and consistent profit. the hardest thing is the time it takes. i have come to learn nothing will happen over night but with hard work and dedication there is a possibility of achieving my goals.


Re: 5 Things I have learned in 5 years of trading!

#23
sebking1986 wrote:
Mon Aug 16, 2021 8:01 pm
5 Things I have learned in 5 years of trading!

  1. A broker is not that important. 90% of them are fine so use whatever one you are comfortable with. I use CedarFX as I use Bitcoin to deposit and withdraw and it is very quick, also the tree planting is good. It all helps.
  2. Social Media "gurus" often don’t actually trade themselves and make their money conning the vast majority of people coming into trading looking for quick cash – don’t get caught out!
  3. Nobody can give you a ready-made strategy and then send you off to start making money. A strategy is something personal to you in terms of time, risk tolerance, psychology, speed of the market etc. Take bits from different sources and then take the time to formulate and test your own strategy that fits your own parameters. There is no “one-size fits all” in trading.
  4. Trading of any type is NOT A GET RICH QUICK SCHEME! It takes time for the above reasons to first learn the basics and then formulate a strategy, test it thoroughly and implement it.
  5. Set achievable goals – when you first start break even at the end of the month might be a great target for you and that is fine. Not losing long term is priority number one to protect your capital. Don’t compare your 1000hrs of practice to another person’s 10,000hrs. Be better than you were 6 months ago and focus on that.

What else have you all learned in your time trading?

Agree good pints there but I think it’s important to have a trust worthy and decent broker

Re: 5 Things I have learned in 5 years of trading!

#25
I don't think regulation is necessary to prevent this. Plenty of brokers that have been around a good few years now that aren't regulated and still paying out regularly without issue. Just witgh regulated brokers you just have to cut through the bad ones in reviews. I use both regulated and unregulated and see pros and cons to both.


Re: 5 Things I have learned in 5 years of trading!

#27
mlawson71 wrote:
Mon Jan 17, 2022 3:08 am
Personally, I still prefer to use a properly regulated company. I have been scammed by unregulated ones in the past.
Sorry to hear that. Are you able to name which ones? Might be worth mentioning in case anyone on this thread is looking for one and might get caught out.


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