Rating: Full Star Full Star Full Star Empty Star Empty Star
Professional trading tips for beginners
Previous 1 2 Next

Member Since Aug 23, 2020  142 posts ProfitsOnly () Oct 02 at 16:46
1. Leave your emotions behind;
Emotional control is the most essential factor in playing the market. Never lose control of your emotions when the market moves against you. Don’t get too confident over your wins or too despondent over your losses

2. Never follow the crowd;
 Be fearful when others are greedy, be greedy when others are fearful”

Oftentimes market hype is brought about by the media creating buzz around some financial news that were not yet thoroughly analyzed. At these moments, it is very hard not to jump on the bandwagon of overexcited traders and start buying stocks that everyone is talking about.
Later, when it turns out that this was nothing but a hype, you don't want to be one of those traders who are struggling with selling the stocks for close to nothing when the hype is over. The best example to illustrate Buffett's quote would be the notorious Dotcom crash that left countless number of traders with devalued stocks.

3. Trading is not only about graphs

Everyone would agree that investing involves much more than simply buying some stocks. Indeed, by entering the world of trading we involuntary delve into politics, economy, ecology and financial markets, learning more about what is going on in the world than we would ever expect.
But the trick is that it works the other way around just as well: the more you know about the world, the better you invest. That's why when you are thinking about making a new investment into a company, try to analyze their business as thorough as you can. The time you invest in this step will pay off later.
When analyzing a graph, never neglect the news section that goes together with it. Lots of important information can be hidden there.

kozaokr

Member Since Oct 03, 2020  2 posts kozaokr Oct 03 at 19:10
Thanks a lot for this


Member Since Aug 23, 2020  142 posts ProfitsOnly () Oct 04 at 03:03
Welcome mate.

ElliotCooke

Member Since Jul 20, 2020  221 posts ElliotCooke Oct 18 at 21:04
Very nice and informative post. It will help all the new traders who are thinking to invest in this risky market.

LeviSievwright5

Member Since Jul 20, 2020  156 posts LeviSievwright5 Oct 19 at 01:23
Your words are true, and if no one can accept this truth, he will never succeed in trading. Thank you very much for providing this important information to beginner traders.

GeorgeBischof

Member Since Jul 19, 2020  222 posts GeorgeBischof Oct 24 at 16:01
TraderAngolan posted:
1. Leave your emotions behind;
Emotional control is the most essential factor in playing the market. Never lose control of your emotions when the market moves against you. Don’t get too confident over your wins or too despondent over your losses

2. Never follow the crowd;
 Be fearful when others are greedy, be greedy when others are fearful”

Oftentimes market hype is brought about by the media creating buzz around some financial news that were not yet thoroughly analyzed. At these moments, it is very hard not to jump on the bandwagon of overexcited traders and start buying stocks that everyone is talking about.
Later, when it turns out that this was nothing but a hype, you don't want to be one of those traders who are struggling with selling the stocks for close to nothing when the hype is over. The best example to illustrate Buffett's quote would be the notorious Dotcom crash that left countless number of traders with devalued stocks.

3. Trading is not only about graphs

Everyone would agree that investing involves much more than simply buying some stocks. Indeed, by entering the world of trading we involuntary delve into politics, economy, ecology and financial markets, learning more about what is going on in the world than we would ever expect.
But the trick is that it works the other way around just as well: the more you know about the world, the better you invest. That's why when you are thinking about making a new investment into a company, try to analyze their business as thorough as you can. The time you invest in this step will pay off later.
When analyzing a graph, never neglect the news section that goes together with it. Lots of important information can be hidden there.

Very nice writing. It will help many traders to make their decisions easily.

barbarawright

Member Since Jun 10, 2020  37 posts Barbara Wright (barbarawright) Oct 26 at 06:45
That’s true. You must not let your emotions come your way. It won’t take you long.

Michihito

Member Since Jul 19, 2020  135 posts Michihito Oct 27 at 12:16
Most of losses happen in trading by emotional decisions. You need to control your emotions while trading. It is a difficult task but possible. It requires time. No habit develops overnight. We need determination and dedication.

UweMoench

Member Since Jul 19, 2020  149 posts UweMoench Oct 27 at 13:25
Very informative input. Yes following crowd makes a trader restless. All the day he keeps searching what others are saying about the market. It reduces their own judgement ability which is bad for learning.

Doombinder

Member Since Sep 24, 2019  16 posts Doombinder Oct 30 at 10:35
As a trader you need to know that you are on your own on forex. As much as you see alot of traders in the forums they should not in any way influence your trading plan unless what they have to say is something that you can prove it be effective because then you are going to be making a big mistake.

Previous 1 2 Next
Loading
Loading
EURUSD 1.19143 GBPUSD 1.33533
USDJPY 104.243 USDCAD 1.30115

Tools

Community

Reviews

Brokers

Platform

Support


Twitter |  Facebook |  Site Map  |  Terms  |   Privacy Policy
©2020 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.