The view of one trader whom Kathy Lien lectured, Hoosain Harneker is the most practical advice.
No one can master professional skills with the blink of an eye. The doctor will practice on the corpse, the guard uses a rather long period of practice speaking in the moot court and the mechanic learns to repair the engine not just overnight.
Practice does not promise glory but no practice will definitely not feel that glory.
Hoosain chose the Foreign Exchange market as his main market for profit.
Each of the FX brokers will provide a training platform that we know as a Demo Account for us to practice and learn technical analysis on there.
Virtual money is given, and leverage options may also be selected to give us the experience of experimenting to strengthen our trading skills.
In other markets too, such as stocks, there is software that allows traders to paper trade first to get a good feel for the market environment.
Another person whom Kathy spoke with was Paul Willette, who traded the equity market or stocks, took a period of 3 months for a paper trader, then went to the real market.
Hoosain's harsh advice is;
"Although it is difficult to be vigorous in trading demo accounts, reaching the consistency stage with the demo account is very important. In addition, if you can multiply the demo account so that it is doubled 3 times. Instead of a demo account, look for memorable ways, appropriate techniques, strict risk management to teach yourself to be more disciplined and confident in the real market. "
Yes, let's call it a demo account, how many people have used it for a long time to practice and practice the knowledge learned?
As a result of the "get rich quick" mindset, make sure you skip and skip basic matters that may help in this field.
How many people can actually duplicate the demo account or just for the MC of the demo account, continue to the live account, deposit without stopping, the MC is also immeasurably caused by shaking into the real market without sufficient discipline and knowledge?
Difficult, tired, bored, and many other reasons. Because 10% are successful, they have no excuse. If you're happy, everyone has made it. Right?
