To use chat, please login.
Back to contacts

For Newbie

Oct 19, 2020 at 06:50
2,931 Views
67 Replies
Member Since Jul 19, 2020   298 posts
Oct 19, 2020 at 06:50
For newbie small capital is good. Actually what I think is when you start forget about capital and profit. Focus on knowledge and skills. Most traders make this mistake, they focus on profit at the first hand. They don't realize that forex trading requires specific knowledge and skills. I would recommend to study and research as much as possible.
Member Since Apr 03, 2019   11 posts
Oct 19, 2020 at 10:39
First year of trading should be all about learning and demoing. I would not consider trading for profit until after that
Member Since Aug 17, 2020   123 posts
Oct 21, 2020 at 18:27
Definitely, I agree with both of you. Trading is portrayed as a way to get rich quick way too often, but we need to be careful and not let greed dictate our decisions.
Member Since Oct 05, 2020   18 posts
Oct 22, 2020 at 06:26
Wreeves posted:
First year of trading should be all about learning and demoing. I would not consider trading for profit until after that
Agreed, sufficient time should be given to learning, research and demo trading in the beginning, however, that time period can vary for all I guess.
Member Since Jul 20, 2020   232 posts
Oct 22, 2020 at 20:47
Most of the new traders lose their investment because of picking the wrong strategy. So, try to pick the suitable and right strategy according to your trading plan.
Member Since Jun 05, 2020   33 posts
Oct 23, 2020 at 11:19
Stress upon learning and practicing, that's a must for a newbie, atleast for some initial years of trading.
Member Since Apr 25, 2020   119 posts
Oct 26, 2020 at 10:15
Every trade, every trade will be heightened, emotional, and we will always be under stress.
Member Since Sep 23, 2020   42 posts
Oct 27, 2020 at 06:29
Michihito posted:
For newbie small capital is good. Actually what I think is when you start forget about capital and profit. Focus on knowledge and skills. Most traders make this mistake, they focus on profit at the first hand. They don't realize that forex trading requires specific knowledge and skills. I would recommend to study and research as much as possible.

Well said, People focus more on profits than enhancing their knowledge base. A better thing is to pay more attention on learning and practicing than on profits, profits will automatically flow if your concepts, strategies are right.
Member Since Jul 20, 2020   298 posts
Oct 28, 2020 at 01:12
Of course, small capital is needed to reduce losses. When a trader joins new trading he has less knowledge about trading. In this case, if he is given a big investment, he is more likely to lose that investment. So a new trader needs to acquire a lot of information and knowledge.
Member Since Oct 28, 2020   5 posts
Oct 28, 2020 at 09:12
The most important thing is not to chase big profits, but it is better to start, say, with a minimum deposit of $ 100, like with the Amarkets broker, and then this will give you the opportunity to earn a little in case of successful trading, and you will not mind losing if you have to go through such an experience.
Member Since Jul 09, 2020   34 posts
Oct 30, 2020 at 10:50
Shelby10 posted:
New traders should pick a regulated broker for them. Wrong brokers can put them in a great danger.
True. For safety of your funds, it is wise to go with regulated ones.
Member Since Jul 19, 2020   318 posts
Oct 30, 2020 at 11:07
Besides a regulated broker, a trader should choose the best strategy to make profit from the market.
Member Since Mar 16, 2020   54 posts
Oct 31, 2020 at 10:00
for a new trader the first priority should be the knowledge about trading and the practical learning.
Member Since Nov 02, 2020   36 posts
Nov 02, 2020 at 06:46
I believe for a newbie, the most prior thing is to work on enhancing their knowledge. Knowledge and learning are like the lifeblood of any beginner in forex.
Member Since Jul 20, 2020   341 posts
Nov 02, 2020 at 11:38
Every new trader should be very serious about their trading. They should make a good and solid trading plan to make profit from this market.
Member Since Nov 03, 2020   70 posts
Nov 03, 2020 at 06:54
ElliotCooke posted:
Every new trader should be very serious about their trading. They should make a good and solid trading plan to make profit from this market.
Yes! If they want to make a profit, then they should really take their forex trading very serious.
Member Since Sep 23, 2020   42 posts
Nov 03, 2020 at 07:10
ddarko3 posted:
ElliotCooke posted:
Every new trader should be very serious about their trading. They should make a good and solid trading plan to make profit from this market.
Yes! If they want to make a profit, then they should really take their forex trading very serious.

Correct. Forex is no quick way to get substantially rich. We have to work hard for it.
Member Since Aug 09, 2017   785 posts
Nov 03, 2020 at 07:39
sounds really good that you are willing to learn , actually there is no way to stop learning from there even after passing a long time in there. good luck to you.
Member Since Jul 04, 2020   22 posts
Nov 03, 2020 at 12:22
Imamul posted:
sounds really good that you are willing to learn , actually there is no way to stop learning from there even after passing a long time in there. good luck to you.

Very true, success wont come until we learn.
Member Since Apr 18, 2017   718 posts
Nov 03, 2020 at 13:22
newcomers should choose the broker which is more appropriate to the concept of trading that will be used , if love doing scalping should choose the broker which allows trading concept such as this.
Sign In / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.