When a trader is a newbie

when i was new in trading i was profitable in the demo but when start live trading result was completely different. actually we see lots of difference between demo and live

A newbie should not think that for success in trading, it doesn't require much study and experience. Trading does require extensive knowledge and skills. And a newbie should work keeping that in mind.

All trader came from newbie stage, although any trader they start to learn forex in the same time, but the achievement of trading result will different, there is a trader that has better speed in the learning process, but there is a trader with low speed in the learning process. as newbie use micro account is safer than standard account

FXOday posted:
All trader came from newbie stage, although any trader they start to learn forex in the same time, but the achievement of trading result will different, there is a trader that has better speed in the learning process, but there is a trader with low speed in the learning process. as newbie use micro account is safer than standard account

Every newbie should start with a demo account.

A newbie should focus on learning. Usually what happens new people don't want to spend time in learning. They come with a perception that making money in forex is easy.

A newbie should start learning on demo with small lots, small lots teaches us the patience.

Newbie should also understand how long the journey could be. Becoming profitable can take years not weeks

Michihito posted:
When a trader is a newbie in Forex , the first thing he or she should be doing to do more of the learning. The beginner traders do not know which road to take in Forex and that is why they are always getting confused, it is better when they take their practicing and learning very serious so that they can learn better.

Agree don’t rush into it and do plenty of research

It is very important for a newcomer to at least know the basic aspects of trading. So that when he trades he does not not make random guesses, but has a logical reasoning about everything.

Beginners should start by demo trading. This is where you trade with virtual money to get a feel for the market without risking any of your own funds. You can find demo trading accounts at your broker's website.

A trader should first fully understand the forex market and what it can give and what you should expect. Do not approach the market with some silly expectations. Your earning gets better with time if your skills are on the track. New traders shouldn’t rush and allot time to learning from genuine resources, such as Babypips. After the basics, starting with demo trading is reasonable. If a new trader can build consistency on demo trading, then he is ready to trade live with small risks.

One important advice for newbie is to start with demo first. You will get to know what you can do and what you cannot do in the trading, all thanks to demo trading.

Practicing on a demo account is very helpful for beginners before jumping into live trading. After this, it's always advisable to start small on a micro account.

Demo platform and trading practice is required as a new trader. Trading cannot be done without experience.

AliaDare posted:
Demo platform and trading practice is required as a new trader. Trading cannot be done without experience.

It is so key to do this like doctors practice for months on cadavers and when they make a mistake they correct the technique they dont just hop into surgery and learn whilst performing

I agree but most who come in don't want to look at trading like a profession and a degree to get to be proficient in that subject area. They look at it as a gamble, and just as they do with the bookies, they lose.

CraigMcG2020 posted:

AliaDare posted:
Demo platform and trading practice is required as a new trader. Trading cannot be done without experience.

It is so key to do this like doctors practice for months on cadavers and when they make a mistake they correct the technique they dont just hop into surgery and learn whilst performing

Accurate quote, Demo Platform is the artisan of creating successful traders. Where I can be successful if I trade seriously.

AliaDare posted:
Demo platform and trading practice is required as a new trader. Trading cannot be done without experience.

A demo is the best platform to practice and learn forex.

SteveHanks posted:

AliaDare posted:
Demo platform and trading practice is required as a new trader. Trading cannot be done without experience.

A demo is the best platform to practice and learn forex.

Well, it is easy to develop a strategy on the demo platform. So I think demo platform is for best trading practice.