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New Trader

Dictiony
Mar 18 at 01:46
195 posts
As a newbie trader, you must gain knowledge first, and after it starts trading with a demo account to get some good experience.

ele020 (ele020)
Mar 18 at 07:00
165 posts
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.
DanialWales
Mar 18 at 12:35
17 posts
One important difference between trading and going to the casino is that when you go out to gamble, you have a negative expected return. In other words, the house is always expected to win over the long run, on average. Trading , however, if done skillfully and artfully, can put you in the position of the house.

AuxiliumFx (AuxiliumFx)
Mar 18 at 14:14
10 posts
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
Dictiony
Mar 19 at 01:51
195 posts
As a new trader, you should do your trade manually and not use robots.

AuxiliumFx (AuxiliumFx)
Mar 19 at 10:28
10 posts
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
LyudmilLukanov
Mar 19 at 17:42
377 posts
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.

UweMoench
Mar 20 at 12:38
370 posts
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.

LukeRachel
Mar 21 at 02:32
100 posts
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.

AliaDare
Mar 21 at 17:16
403 posts
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.

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