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newcomers trading habit

Apr 22, 2020 at 15:07
77 Replies
Member Since Nov 06, 2020   24 posts
Feb 26, 2021 at 12:11
PercymcDonnell54 posted:
Explain something to me here. Sitting in the chair and watching the market move while I wait “patiently”, how will it reap me any profits when I’ll be missing out on trading opportunities?
See now that’s the idea, you needn’t rush into bad currency trades. If they don’t come up in that particular session, there’s always next. It’ll be worth the wait and patience.
Member Since Dec 28, 2020   187 posts
Mar 08, 2021 at 11:00
Joz8 posted:
Sarjohn posted:
For a newcomer it is important to gather all knowledge about Forex first and then practice trade on demo accounts before going for a live account.
Any specific time for which one should demo trade? I think it varies from trader to trader, isn't it?
Yes it totally depends upon the trader i traded almost 5 months on a demo account before going to a live account.
Member Since Dec 17, 2020   17 posts
Mar 10, 2021 at 06:27
Risk management is the key to a successful forex strategy and everyone should pay good attention to it.
Member Since Nov 16, 2020   55 posts
Mar 10, 2021 at 11:38
I completely agree with mine, the sooner we learn to control our emotions and stop being greedy, the faster we can learn to trade correctly.
Member Since Feb 23, 2021   330 posts
Mar 31, 2021 at 15:34
baytonhinity posted:
Every trader should try to stay far away from any greed or emotion if they are planning to trade well.
Yes. Most of the new traders want to make money quickly from this market.
Member Since Mar 17, 2021   536 posts
Apr 01, 2021 at 13:26
baytonhinity posted:
Every trader should try to stay far away from any greed or emotion if they are planning to trade well.
Yes. Greed is the most dangerous thing in the forex market.
Member Since Apr 01, 2021   9 posts
Apr 01, 2021 at 15:26
But a little bit of greed is OK otherwise we would not all be looking to get rich through Forex!
Member Since Mar 28, 2021   617 posts
Jul 04, 2021 at 10:15
Our total risk should not be above 2%. Now it could be 2% in a single position or all the open positions. Some traders take 2% risk per trade then open 5 trade which becomes 10% risk. We should not do this type of mistakes.
Member Since Jul 23, 2020   869 posts
Jul 10, 2021 at 01:53
Greed, fear, and all kind of emotions are the habits of new traders.
Member Since Dec 20, 2021   3 posts
Dec 29, 2021 at 14:35
As a newbie, you should concentrate on developing a trading strategy and making good investments.
Member Since Mar 28, 2021   617 posts
Dec 29, 2021 at 16:34
Number one biggest mistake new trade commits is they treat forex trading as a money machine. Open trade and make profit. They think it is the easiest job in the world. But in reality you need profound understanding of the market. My advice to new trader is gain necessary knowledge and skills.
Member Since Nov 02, 2021   73 posts
Dec 30, 2021 at 05:46
We can only warn traders about how emotions can be harmful in trading. They would actually come to know only when they have made significant losses. Only with these losses comes the actual wisdom. So, I suggest new traders to start small in order to avoid big losses while initial trading.
Member Since Aug 27, 2017   994 posts
Dec 30, 2021 at 11:06
beginners always try to skip the learning approach and as a result there is almost 90% traders become loser.
Member Since Apr 09, 2019   538 posts
Dec 30, 2021 at 17:12
The worst thing anyone can do in trading is think they know it all. Be humble, always stay open to learning and keep progressing.
If you can't spot the liquidity then you are the liquidity.
Member Since Jun 07, 2021   72 posts
Jan 27, 2022 at 04:31
Other than studying the nature of the forex market, one thing that has helped most is a trading journal. All traders should know whether they are growing or not. With the help of a trading journal, traders can figure out the flaws in their trades and can trade better in future.
Member Since Jan 24, 2022   20 posts
Jan 27, 2022 at 09:47
Trading journal really is quite helpful in analyzing yourself as a trader. This way you become a better version of yourself.
Member Since Feb 12, 2019   105 posts
Jan 31, 2022 at 21:34
Its the holy grail of trading and thats trading psychology
Where you can lose trade or trades and come back unperturbed and make successful trades knowing you have a edge
Member Since Sep 05, 2020   13 posts
Feb 03, 2022 at 14:28
I think that one of the worst trading habits is trading during consolidation. It’s so easy to lose money when trading during consolidation but many newcomers keep trying. Perhaps, there’s something attractive for them here.
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