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Beginner's Tips
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heihachi7

Member Since Oct 09, 2019  1 posts heihachi7 May 03 at 22:49 (edited May 03 at 22:53 )
Poolut posted:
I feel the same way about newbies. A lot of them come to the forum and they're like, 'Oh, how do you do stuff here, give me some advice!' And you don't even know what to write back to this question. Yes, when they ask some general questions, that's great. When they ask questions like 'What leverage do I have to choose' or 'How much money do I deposit', it's just something... It's like they don't understand that there are more personalized questions, that more difficult to answer without knowing the information about the trader himself.



I feel its best to give them a direction or reference to read because most every trader is unique in their ability to trade the market plus the strategies vary. I have been reviewing some of the Mark Douglas videos and it has upgraded my approach to the FOREX market strictly from a psychological point of view. The questions provided above have to be answered and researched by the trader. No one else can advise them on this because only they know how much to risk in their unique situation once fundamental knowledge has been achieved regarding how to read the charts, indicators & platform operation. This is only my opinion on the situation your describing Poolut.

Be in it to win it every day!
Roberto21

Member Since May 02, 2019  256 posts Roberto21 Jun 20 at 06:19
We the traders should choose the currency pair which is more appropriate to the concept of trading that will be used , if you depend on scalping should choose the pair which always ensures lowest comfortable trading spreads.

Tezilkree

Member Since Apr 04, 2020  49 posts Tezilkree Jun 22 at 04:48
For successful trading, you need to work out all the nuances

first_time

Member Since Jun 22, 2020  18 posts first_time Jun 22 at 06:15
Always make sure to keep risk and money management in mind while trading. I would say that this is one of the important tips for them.

Mohammadi

Member Since Aug 11, 2017  725 posts Mohammadi Jun 22 at 11:45
The demo account is really important for all kinds of traders in particularly the newcomers. in my trading career, after passing a long time I still depend on demo account for some inevitable reason, I use all my trading strategies first of all in demo account to see the performance how it works. this approach always helps me for avoid risk in live account when trading practically. What is your experience in demo ?

caringloriana

Member Since Jun 23, 2020  4 posts caringloriana Jun 29 at 08:12
For a Beginner, it is to recommended to get the prerequisite knowledge and skills and make best use of it in this trading world.
With constant practice, research work and continuous evaluation of the market trends you can attain optimum level of supremacy in forex trading, but also keep in mind that the greed for earning higher profits can lead you to fall the ladder.

Cruz45

Member Since May 27, 2020  21 posts Cruz45 Jun 30 at 06:28
As a beginner, it is important to go step by step. Grab some knowledge, practice on demo account and then jump to real trading. Learn and earn.

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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.