Comments on: Forex Trading: An Interview With Forex Market Expert Thomas Fischer, Part 1

By: Best Forex Trading Center

Best Forex Trading Center — Tue, 29 Jun 2010 00:04:37 +0000

Forex trading is very exciting. And yes very addictive, without a plan. One way to overcome the addiction is to trade with a friend, who will help you get out of your trading station.

Education is the key. With the right education and the right mentors to guide you from the beginning, you will avoid the common mistakes that new forex traders make.

Learn to despise big losses from the beginning. The trade mark of master traders is their ability to limit losses and ride the winning trades for as long as possible.

By: john

john — Thu, 16 Jul 2009 01:11:01 +0000

Thank you for an insightful and useful post

By: Steve Ek

Steve Ek — Tue, 16 Jun 2009 20:35:09 +0000

As a new trader, I cannot overemphacise the importance of a new forex retail trader to learn about all the aspects of forex trading with a demonstration account that is offered by virtually all reputable forex brokers. The use of a demo account (with its free money) allows one to learn without financial penalty, to try to develop a personal or professionally purchased trading system, and most importantly, to control risk.
The new forex trader also must understand that forex trading is a “sum zero” game in which your trade is countered by a pro sitting at the same firm that you have your account with, and, guess what, the house always wins. So, that is the condition that you are always dealing with, and you are in mental competition with that other guy. This is why forex trading is so fascinating and so destructive to the small retail trader who cannot control risk.
I only risk 1% of my account on any trade and trade at most one hour two days a week. I have had winning months and losing months, but the winners have exceeded the losers. I also am not bothered by losses, because they were my bet, and I was prepared to lose that amount when I placed the trade. I disagree with the use of broker developed “advisor” systems. No system is perfect or we would all be using such a system and would all be rich. Your own mind is the best advisor, and coupled with controlling risk, you can be a winner in this totally fascinating game.

By: JOY

JOY — Tue, 16 Jun 2009 17:11:54 +0000

excellent

By: Dan R. - Chicago

Dan R. - Chicago — Tue, 16 Jun 2009 15:05:32 +0000

Thank you for finally hightlighting Forex as
an alternative investment to the stock market.

Best way to trade Forex with discipline is to remove emotions and time watching the screen. Too do this, trade Forex via Expert Advisor (Metatrader 4). Best trades are when you sleep at night or when you are at work. All you have to do is select (or create yourself) a good expert advisor, a good market and keep the computer program running 24×7 to trade for you. Word of wisdom: a bad expert advisor is the quickest way to loose money in Forex.