New Trader

Jan 25, 2021 at 23:05
2,655 Views
48 Replies
Member Since Aug 11, 2017   886 posts
Mar 17, 2021 at 08:18
for new trader to open a micro account is a very good source to see the broker performance how it works. so all beginners should follow the rules
Member Since Aug 09, 2017   785 posts
Mar 17, 2021 at 09:18
i dont support any kind of live trading for the traders who are particularly newcomers. because this approach can make beginners emotional and greedy.
Member Since Feb 04, 2021   31 posts
Mar 17, 2021 at 11:42
Imamul posted:
i dont support any kind of live trading for the traders who are particularly newcomers. because this approach can make beginners emotional and greedy.
Agree with you. Beginners should do demo trading for a few months so that they gain familiarity with the platform and when they have gained some confidence they can go live.
Member Since Jul 19, 2020   298 posts
Mar 17, 2021 at 11:55 (edited Mar 17, 2021 at 11:56)
Practice makes a man perfect. It's true. But we need to practice in a systematic way. In demo most people do random trading. But we should actually develop our system in demo.
Member Since Mar 17, 2021   536 posts
Mar 17, 2021 at 18:40
PeteLanceley posted:
Make sure that you practice on demo until you are confident.

You can learn on sites such as YouTube, or Babypips for free.
Yes. I agree with you. every new trader should practice on a demo account before starting live trading.
Member Since Apr 01, 2020   231 posts
Mar 18, 2021 at 01:46
As a newbie trader, you must gain knowledge first, and after it starts trading with a demo account to get some good experience.
Member Since Apr 15, 2020   219 posts
Mar 18, 2021 at 07:00
dalbamou posted:
Hi Paulo, my advice is not to use bots to 'scalping', brokers do not like it and you will end up losing money. Try to look for short / medium term bots, which have at least 20 pips of profit.

I agree with your advise.
The more your practice, the more you learn.
Member Since Apr 14, 2019   10 posts
Mar 18, 2021 at 14:14
Dictiony posted:
As a newbie trader, you must gain knowledge first, and after it starts trading with a demo account to get some good experience.

Welcome to the forex world. Speaking on experience and please have an open mind.
Focus more on the psychological aspect. Suprising trading is extremely simple, we as humans complicate it beyond belief. A quick babypips course is enough along side some tweak as time goes on to your trading method.

Also regarding demo accounts. Use these to test and get used to placing orders. Such as how different order types work such as limit and market orders, stop loss and take profit. Once your confident 'go live' with real money. Preferable with a cent account. $10 gets you 1000c and trade that as it will train your psyche which is the most important factor in my opinion.

Hope this helps
Consistency Starts Here
Member Since Apr 01, 2020   231 posts
Mar 19, 2021 at 01:51
As a new trader, you should do your trade manually and not use robots.
Member Since Apr 14, 2019   10 posts
Mar 19, 2021 at 10:28
Dictiony posted:
As a new trader, you should do your trade manually and not use robots.

Of course, you are correct.

A. robot wont gain you any experience in the markets.
Consistency Starts Here
Member Since Jul 23, 2020   869 posts
Mar 19, 2021 at 17:42
Dictiony posted:
As a new trader, you should do your trade manually and not use robots.
Right. I also agree. New traders should know the market first before auto trading.
Member Since Jul 19, 2020   751 posts
Mar 20, 2021 at 12:38
I think first they should focus on learning. Most newbies start to run for strategy. They ignore the fact that for successful trading one needs deep knowledge and understanding of the market.
Member Since Mar 16, 2021   477 posts
Mar 21, 2021 at 02:32
dalbamou posted:
Hi Paulo, my advice is not to use bots to 'scalping', brokers do not like it and you will end up losing money. Try to look for short / medium term bots, which have at least 20 pips of profit.

Yes, I agree with you. I use any strategy but if I can't implement that strategy properly on the platform, it has no value.
Member Since Jul 19, 2020   788 posts
Mar 21, 2021 at 17:16
Dictiony posted:
As a newbie trader, you must gain knowledge first, and after it starts trading with a demo account to get some good experience.
Yes, your idea is correct. I think it is never possible to survive in trading without knowledge. New traders will therefore have to gain experience by practicing the demo first.
Member Since Apr 25, 2020   119 posts
Mar 22, 2021 at 14:30
Beginners need to be extremely attentive enough and grasp all the information.
Member Since Mar 16, 2021   477 posts
Mar 24, 2021 at 01:04
Beginner traders should acquire trading education attentively. If trading education is not achieved properly, making a profit will be much more complicated.
Member Since May 27, 2021   64 posts
Sep 28, 2021 at 11:20
'Learn and Earn' is the biggest rule of thumb of this forex market.
Member Since Jul 19, 2020   788 posts
Sep 29, 2021 at 15:24
WaltonCharles posted:
LukeRachel posted:
Beginner traders should acquire trading education attentively. If trading education is not achieved properly, making a profit will be much more complicated.
Education is the mandatory thing in this market to make money.
Of course, education is very important in trading. You can't survive in this market without knowledge.
Member Since Mar 16, 2021   477 posts
Sep 29, 2021 at 15:57
Alexthetrader posted:
'Learn and Earn' is the biggest rule of thumb of this forex market.
Yes, it is the responsibility of every trader to acquire trading education.
Member Since Aug 21, 2021   61 posts
Oct 07, 2021 at 09:17
A new trader's first step is to learn about the forex market and consider demo trading the key of practising.
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