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New in forex trading
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Dambovita

Member Since Oct 09, 2018  9 posts Dambovita Oct 09 2018 at 10:16
voketexpert posted:
Multi-demo accounts are a good idea.
You need persistent technique in a long time.
Remember the fatal factor, your mental.
.

Why is multi-demo account better than one demo account? I do not understand what benefit this could bring

yellowman94

Member Since Oct 09, 2018  41 posts yellowman94 Oct 10 2018 at 10:02
1. Focus on the Process and the Profits Will Follow
2. Trying Harder Is the Worst Thing You Can Do
3. Take Responsibility for Everything
4. When in Doubt, Do Nothing


Mohammadi

Member Since Aug 11, 2017  788 posts Mohammadi Oct 10 2018 at 14:48
Knowledge is the key to success in Forex. There is nobody who can make success from here without knowledge . so we have to emphasis on acquiring real trading knowledge and we can get most powerful analyzing trade knowledge by passing a long time. Otherwise that’s not possible at all.

Imamul

Member Since Aug 09, 2017  520 posts Imamul Oct 12 2018 at 05:57
I have seen so many forex trader always consider high leverage at risk , but I don’t consider it at all. if there is any risk it is completely with non-sense planning and zero risk managing plan , nothing to do with high leverage at all.

AniLorak

Member Since Apr 18, 2017  885 posts AniLorak Oct 19 2018 at 05:39
yellowman94 posted:
1. Focus on the Process and the Profits Will Follow
2. Trying Harder Is the Worst Thing You Can Do
3. Take Responsibility for Everything
4. When in Doubt, Do Nothing



Point number 5 is, try to demo until you are consistent! Because I see, a number of new traders try to jump for live trading too early.

GreenTrades

Member Since Aug 16, 2018  11 posts GreenTrades Oct 24 2018 at 07:37
AniLorak posted:
yellowman94 posted:
1. Focus on the Process and the Profits Will Follow
2. Trying Harder Is the Worst Thing You Can Do
3. Take Responsibility for Everything
4. When in Doubt, Do Nothing



Point number 5 is, try to demo until you are consistent! Because I see, a number of new traders try to jump for live trading too early.


6. Patient and discipline are the key to make all the points go smooth.

Ararat

Member Since Oct 13, 2018  10 posts Ararat Oct 24 2018 at 10:11
Accept that there will be losses. No trader gets it right 100% of the time. Many trader have losing months so don't freak out of you win one week and lose the next

Kalamo

Member Since Jul 07, 2018  108 posts Denis (Kalamo) Oct 26 2018 at 09:15
My advice for new traders is make sure that you have enough knowledge and tools to trade this market. There is always a winner and a loser, just pick your side. You are the only one who has the control over your entries and exits. A very important point that helped me after I started was to split my capital into many different accounts and use different trading strategies. You cannot always win but you cannot always lose (unless you are really not made for this). Be patient, do not overtrade, analyze the market and watch out for high impact news releases.


I wish everyone a happy and safe trading, there is a lot of money to make on the Forex market but there is also a lot of money to lose. Be patient, be careful and ask for advice if you don't know how to trade this market.

Penrose2000

Member Since Oct 26, 2018  10 posts Penrose2000 Oct 28 2018 at 07:41
Keep trying. If you blow 4 demo accounts then try a fifth. You will never get anywhere without trying and persistance.

BluePanther

Member Since Jan 25, 2010  1343 posts Matt (BluePanther) Oct 28 2018 at 08:51
Before you start (or if you are still struggling in forex), please read this:
https://optimusfutures.com/tradeblog/archives/3-tips-to-trading-unpredictable-markets/

...and this:
https://optimusfutures.com/tradeblog/archives/how-to-look-past-your-trading-biases/

...and this:
https://dailypriceaction.com/articles/is-forex-trading-gambling

My suggestions:
- Don't trade with less than $10,000 (read: under-capitalisation)
- Don't open large positions when you start (read: over-leveraging)
- Don't believe ANYONE that claims they are an expert and can read the market and guarantee your returns! (read: scammers)
- Don't buy any system, product, course, materials, etc. that promises to make you a professional trader! (read: fantasies)
- Save your money for trading, not for products, systems, etc. (read: costs of doing business)
- There is no shortcut to success: read everything, learn, practice, adapt (read: study)
- Be prepared to lose, and be prepared to lose more than once. Only risk money you can afford to lose (read: failures)
- Have PATIENCE: if a trade is going against you, re-evaluate, but don't just close it because you are unsure or afraid. Have some tolerance to risk, to drawdown, to being wrong a little bit. The market is UNPREDICTABLE, news can happen and change the entire market dynamic in your favor. Manage the trade exit rather than simply closing a losing trade. Use higher timeframes.
- Lastly, DO NOT GIVE UP: success does not come easy, anything worthwhile is hard (read: determination)

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