Unless you take trading seriously, you will lose money. Lots of money. If you look at trading as a game or a hobby then you will only make a profit on rare occasions, and even then that will be more about luck than about being on top of what is going on. A trader may well enjoy what they are doing, but it is still a job - and it is essential that they - and you - take trading seriously if you are going to be successful.
Unless you take trading seriously, you will lose money. Lots of money. If you look at trading as a game or a hobby then you will only make a profit on rare occasions, and even then that will be more about luck than about being on top of what is going on. A trader may well enjoy what they are doing, but it is still a job - and it is essential that they - and you - take trading seriously if you are going to be successful.
The firm's main research and development office is based in Tel Aviv Israel. It originally specialized in Forex and indices spreadbetting and CFDs but has recently expanded in stock trading also.
At the time of writing, eToro has 2.2 out of 5 star on Trust pilot. The comments suggest that the platform offers some impressive features but withdrawing money can be difficult. Having said that, some of the negative reviews appear to be rants rather than constructive criticism. This can be examples of traders losing money through their own recklessness rather than eToro's fault. You should therefore take this reviews with a pinch of salt.
“the platform offers some impressive features but withdrawing money can be difficult.”
76% of retail investor accounts lose money when trading CFDs with this provider.
OANDA is a global financial services company providing advanced currency solutions to both retail and corporate clients all over the world. In this article, we are going to review this broker’s trading options, tools, platforms, spreads, commissions, security measures, and educational resources to help traders make the right choice.
76.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing
AvaTrade offers a wide variety of trading solutions (spread trading, CFDs, and social trading), and peace of mind with its comprehensive regulation, covering the EU, Australia, Canada and South Africa. Clients can use a variety of platforms for discretionary and automated trading.
76% of retail investor accounts lose money when trading CFDs with this provider.
Offers multiple asset classes, platforms, and regulated in a variety of regions. Caters for a global audience. Awarded with the Highest Overall Customer Satisfaction Award for 5 years running - Investment Trends CFD Report 2015.
A standalone copy-trading ecosystem, providing equities, foreign exchange, commodities and cryptocurrencies markets. Provides a global selection of brokerages.
Pepperstone is a global regulated broker that provides its clients with the latest technologies for trading multiple assets such as Forex, indices, cryptocurrencies, stocks, ETFs, and commodities. This article provides an overview of its trading platforms, tools, fees, protection measures, and other aspects to help traders make a more informed decision.
Amateur And Professional: There Is A Difference
One of the big differences between amateur and professional traders is that the professionals take trading seriously. All the time. They never go with a trade 'just because' or on a whim. If they trade, they trade to make money, and that's the whole point; that's the bottom line.
One of the ways they do this is to have a defined and practical strategy in place before they make any trade at all. They have a proper method for their trading to take place, and they should know what all the possible outcomes of the trades will be, depending on when they place it and how much they put on it. Although this isn't always possible, if it can be done then it will make a big difference to your success rate.
Don't Leap Too Early
Many amateur traders think they can become professionals after just a few successful demo trades. This is not the case. This is not someone who wants to take trading seriously. This is someone getting excited over making a little bit of pretend money and deciding that that makes them ready to do it for real.
But trading doesn't work like that. It's not a game. Unless you take trading seriously then that leap over to the real deal will always end in a big loss of money and the end of your potentially successful trading career.
Make sure you are ready before you do any trading. It might take longer than you think it will - or hope it will - but the longer you take getting your methods and strategies right, the longer you will be trading for, and making money. Rush through this first part, the setup, and you won't make a penny. You'll lose plenty though.
That All Important Plan
It's the plan that makes all the difference, and the plan that you need to work on in order to take trading seriously. Without a plan, you are lost. Think of a plan as your map in a strange place. No map, and you'll only manage to find your way through sheer luck - and that won't last forever. With a map you might still make mistakes, but at least you can always find your way back to the path so that you can start again.
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