The view of one of the traders interviewed by Kathy Lien, Hoosain Harneker is the most practical advice.
No one can master professional skills in the blink of an eye. Doctors will practice on corpses, lawyers spend quite a long time practicing talking in a moot court and mechanics learn to repair engines not just overnight.
Practice does not promise success but no practice will definitely not feel that success.
Hoosain chose the Foreign Exchange market as its main profit-making market.
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 there.
Virtual money is given, and leverage options can also be chosen to give us the experience of experimenting to strengthen our trading skills.
In other markets, such as stocks, there is software that allows traders to trade paper first to be able to feel the market environment well.
Another person interviewed by Kathy is Paul Willette who trades the equity or stock market takes 3 months for a paper trader and then to the real market.
The hard advice from Hoosain is;
“Although it is difficult to stay motivated to trade demo accounts, reaching a level of consensus with a demo account is very important, especially if you can double the demo account up to 3 times. Instead of a demo account, look for effective ways, appropriate techniques, strict risk management to teach yourself to be more disciplined and confident in the real market. ”
That's right, just mention the demo account, how many people have used it for a long time to practice & practice the knowledge learned?
Due to the "get rich quick" mindset, many skip and skip the basic things that can help in this field.
How many can actually double the demo account or just for the MC demo account, directly to the live account, non-stop deposit, even the MC is countless due to the rush to enter the real market without sufficient discipline and knowledge.
Difficulty, tiredness, boredom, and more are the reasons. That's why 10% are successful, they have no reason. If it's fun, everyone has done it. Right?
