Is supply and demand a scam? If so, what can I do about it?
I’ve recently started trading, around 4-6 months ago, and I came across a trader named JeanFX who initially seemed reliable. I experienced some success using supply and demand strategies, but then I hit a rough patch with a Loss rate of about 90% (not trading with real money). Fortunately, I’ve managed to get back on track, but I’m seeking recommendations for trustworthy individuals or resources where I can continue learning. Any suggestions?
One response
It’s great to hear that you’ve started your journey in trading and are reflecting critically on your experiences! Supply and demand is a fundamental concept in trading and economics that helps explain price movements in the market, and while it can be very useful, it’s not a guaranteed method for success. Many traders encounter periods of losses, which is a normal part of the learning process.
Here are a few points to consider:
Understanding Market Behavior: Supply and demand is not a scam, but like any trading strategy, it requires a deep understanding of market behavior and a lot of practice. It’s essential to keep learning and refining your skills.
Risk Management: Make sure you have a solid risk management strategy in place. This can help protect your capital during periods of loss.
Diversified Learning: It’s beneficial to learn from multiple sources instead of relying solely on one person. You can explore reputable trading educators, books, online courses, and communities where traders share their experiences and strategies.
Practice & Patience: Trading is a skill that takes time to develop. Use demo accounts to practice new strategies without the risk of losing real money.
Community Engagement: Join trading communities or forums where you can discuss ideas, share experiences, and learn from others. Engaging with other traders can provide valuable insights and support.
Consider Professional Guidance: If you’re feeling stuck, you might consider seeking mentorship from a professional trader or enrolling in a structured program that covers the concepts and strategies you’re interested in.
Remember, every trader goes through ups and downs, and it’s all part of the learning experience. Stay patient, keep learning, and focus on improving your skills! Good luck!