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Beginner's Tips

Mohammadi
Mar 08 2019 at 05:48
886 posts
So many new Forex traders try to make money from here without learning. As a result they become loser due to lack of exact trading knowledge. It’s a common thinking. I think by and large lose because they trade with emotions and don’t know how to manage money in Forex.

tracydavison
Mar 10 2019 at 06:48
34 posts
Im a newbie so this is a great thread to follow :)

Treeny
Mar 11 2019 at 07:19
135 posts
tracydavison posted:
Im a newbie so this is a great thread to follow :)


Are you demo trading then Tracy?

Imamul
Mar 11 2019 at 10:55
593 posts
for beginners all currencies are good, just we have to experience with them by trading . We can trade all major currency in our demo account. Because we can see here the pairs performance how it works.

Mohammadi
Mar 11 2019 at 19:29
886 posts
If you want to lead a comfortable and secure trading life you have to choose a credible trading broker which guarantee their clients funds.

togr (togr)
Mar 12 2019 at 07:45
4862 posts
1. Prepare plan of trading
2. Focus and that plan, trade according to that. Keep focused on that ONE thing. Do not alter the plan or combine it with other techniques.
3. At any moment you have to KNOW what to do, keep trade open, close, do not trade...
4. If it works - voila keep it the way it is.
If it does not work - update the plan or make new one and go to point #1

Following these simle steps always lead to point #4
People does not have the patience though to achieve it. Are you an exception?

FaridAnwer
Mar 12 2019 at 08:08
10 posts
All major currency are good. Exotics are horrible. Huge wins one day, huge losses the next. Better play around with eur, usd, cad, gbp all those are better for newbie

Imamul
Mar 12 2019 at 10:55
593 posts
generally we the traders select our trading target according to our knowledge and experience , i have seen our target fall when it not realistic, over target always make us greedy and emotional.  so it is more appropriate to ensure practical trading target.  

forex_trader_[565984]
Mar 12 2019 at 15:11
144 posts
Imamul posted:
generally we the traders select our trading target according to our knowledge and experience , i have seen our target fall when it not realistic, over target always make us greedy and emotional.  so it is more appropriate to ensure practical trading target.  

In my experience, the best practice to deal with emotions in trading is to use pending orders instead of market orders .

Placing market orders means emotions will definitely affect irrespective of how experienced a trader is and he is bound to make some mistakes by emotions. But pending orders at a fixed market price, stoploss and take profit don't have such problems of emotional trading.

ChristinaLedger
Mar 13 2019 at 07:04
2 posts
walpants posted:
I would love to be a successful trader but i know it takes time and dedication to learn,right now i am a long way from it but hopefully will get there one day.


i am always learning more as i go along, so i guess we are on this journey together!

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