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Need help for be a good trader
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jamesgwyther

Member Since Aug 05, 2017  289 posts jamesgwyther Aug 06 2019 at 08:26
smith_fx posted:
natalieFx posted:
hi everyone, i am a natalie, i am a teacher, i am interested in forex trade but i have no experience in trading, i heard that myfxbook is a good community and i should get here good suggestion or advice .

if i say 100% truly i have just idea about forex but not in trading so i want to be a trader,,,

Now your turn, for give me suggestion or resource,,, advanced thanks. neutral



Hey natalie , its wonderful to see how keen you are in learning trading. You can start with the following :

Read some books on trading such as market wizards and intelligent investor.
Keep yourself updated with the news and markets.
Go through magazines and newspapers regularly related to trading.
Visit websites that provide a full course on learning trading and forex such as babypips and others.
Once you get a hang of it , practice on a DEMO account for as long as you want until you are ready to trade on a real account.

Hope this helps!



Good advice

Chikondi

Member Since Aug 06, 2019  7 posts Chikondi Aug 06 2019 at 10:34
To be good trader take your time to learn before you earn. Rome was not built in a day.

Imamul

Member Since Aug 09, 2017  497 posts Imamul Sep 23 2019 at 08:35
Actually how much we can earn our trading it depends on the markets movements. It’s not countable at all by our trading accounts. I was profitable when I started my live trading with 1K. but I did huge loss when I increased my balance in 2.5K but there was same strategies with same money management.

Artemsb

Member Since May 31, 2019  11 posts Artemsb Sep 23 2019 at 11:33
Imamul posted:
Actually how much we can earn our trading it depends on the markets movements. It’s not countable at all by our trading accounts. I was profitable when I started my live trading with 1K. but I did huge loss when I increased my balance in 2.5K but there was same strategies with same money management.

Agree! profit depends on the market movemnts, if market is highly volatile then chaces of making money becomes higher (but never forget the risk as well which comes with high volatility).
And needless to say poor money management can destroy you.

Nasiir83

Member Since Jun 17, 2018  1 posts Nasiir83 Sep 23 2019 at 14:08
If I were you, I would save myself a lot of time and look up 'ICT xmas', and really subscribe to his channel. Everything any 'Guru' is going to teach you is BS. %90 of traders lose money. Coincidentally, %90 learn the same thing. So learn about market makers, learn about order blocks, and market manipulation and how it works. Then youll find yourself not like the rest.(Well, after you get money management down.) Ive been trading for years and im just realizing the true issue. Indicators don't work, its only price action you should care about. If indicators did work, wouldn't everyone be making money? Just look into it.

jamesgwyther

Member Since Aug 05, 2017  289 posts jamesgwyther Sep 23 2019 at 15:08
Nasiir83 posted:
If I were you, I would save myself a lot of time and look up 'ICT xmas', and really subscribe to his channel. Everything any 'Guru' is going to teach you is BS. %90 of traders lose money. Coincidentally, %90 learn the same thing. So learn about market makers, learn about order blocks, and market manipulation and how it works. Then youll find yourself not like the rest.(Well, after you get money management down.) Ive been trading for years and im just realizing the true issue. Indicators don't work, its only price action you should care about. If indicators did work, wouldn't everyone be making money? Just look into it.


I will check out this channel, thanks.

jaredtaylor

Member Since Aug 05, 2019  45 posts jaredtaylor Oct 05 2019 at 06:29
Slow start and steady. Also don’t let emotion get in the way of your plan for successful trading.

traderroni

Member Since Oct 05, 2019  29 posts traderroni Oct 19 2019 at 07:37
jaredtaylor posted:
Slow start and steady. Also don’t let emotion get in the way of your plan for successful trading.


Yeah! And also don’t put all your money in trading or for what that matter don’t invest more than you can afford to lose.

Gabor33

Member Since Dec 09, 2016  49 posts Gabor33 Oct 19 2019 at 08:53
I read all these advice in many forum topics addressed to beginners or traders who`s not profitable, and its easy to see that most ppl on this site just simply ignore Fundamental analysis!! I`m really curious why that is?
Do you guys think fundamental analysis is so insignificant that most of the time it`s not even worth mentioning it?
Bcoz how I see it, the price mostly moves based on the fundamentals, so I think it is really something that everyone should get into a little bit at least.

So if you wanna be a good trader, i strongly advise you to get into and start reading about it, and in time you won`t just see the charts and think ''hmm, the price went up, but i have no clue why'', you will actually understand the reasons behind price moves and you`re confidence will grow significantly in your trading.

JapaneseGroupFx

Member Since Feb 28, 2020  77 posts Profits (JapaneseGroupFx) Apr 02 at 08:33
The journey to being a good trader is akin to being a ship captain, you must solely focus on it

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