When a trader is a newbie

Vianni posted:
Newbies should learn and forget about gaining profits in the very beginning. There are lots of educational resources where you can get the knowledge necessary for trading and understanding this kind of activity. However, many beginners underestimate the importance of education which makes them lose lots of money and spoil their attitude to the markets and trading as a whole.

Learning is a continuous process in this market.

I am sorry for being overcritical, but I consider this piece of advice to be useless. I mean that it is easier to be said that a trader should choose the right path instead of choosing the wrong path of learning. It goes without saying that before getting any result a person should learn and trading is one of those activities where learning is the key for a survival. It can be compared with flying a plane. If you start practising it before learning the fundamentals, you are going to die. Quite the same thing happens with trading but less dramatic, of course. You will definetely lose your budget without proper preparation, so, first of all, you need to learn and try to apply the knowledge on demo account in order to save your money from harm.

I too think that a newbie should focus more on learning and practising. One more suggestion I would like to add is to try everything on demo trading before doing it on the actual market. It would make sure that the strategy you are going to use works for you.

whitneytyler posted:
I too think that a newbie should focus more on learning and practising. One more suggestion I would like to add is to try everything on demo trading before doing it on the actual market. It would make sure that the strategy you are going to use works for you.

Everyone loses in trading but not everyone has the same mindset. For this, some gain consistently and some lose. That's why I have to control Psychology along with Trading Education.

Mentality.
In addition to practising and studying market theory, it is important to spend a lot of time to psychology and building the correct trader portrait. It is better to do this from the very beginning, because the necessary habits must be formed. If these habits are initially formed incorrectly, then later it will be impossible or very difficult to change them.

The most important thing for a beginner is learning. I would advise you to pay maximum attention to this.

We can’t overstate the importance of education.It is often said that, ‘before you run, learn how to walk’. Learning is that first step which teaches you to walk. Education doesn’t only mean learning about different trading concepts but it also include staying updated with the current news

When a newbie enters the forex market, they have no prior experience, thus it is advisable to begin preparing and learning about the forex market and how trading works.

The only shotcut is to avoid the scams and get rick schemes. Focus on the long game. Learn to trade and practice every day. It may take a year or more to learn but that will be faster than going from scam to scam

It is important for a beginner to first gain experience on a demo account. I think it's essential for the job.

It is also advisable that newbies start trading with a demo account while they learn. This will help them in learning practical aspects better because theoretical knowledge alone is not enough. Also it will make the whole process of learning a lot more interesting.

croisssan posted:
It is important for a beginner to first gain experience on a demo account. I think it's essential for the job.

Yes. every new trader should have at least the basic knowledge about trading.

Newbie refers to those traders who newly joined trading. With the growing popularity of Forex, traders around the globe are joining Forex in bulk. Forex offers a untoward weather for newbies but they need more time to adjust to the environment of Forex. However, some can survive here whereas some others can’t.

A trader who has just joined Forex trading is known as a newbie. Forex seems very challenging to a newbie and he needs to spend much more time in Forex to learn about it. They sometimes require support from old traders because knowledge about Forex is like a sea.

When you are new in forex always start with a demo account and practice for at least 6 months and then start real trading.

When you are just entering into Forex trading, you must take each step cautiously. If you have done your basic research and learning, then you must start with a demo account to get experience of the real forex world. Once you are confident with your skills you can move to live trading.

Forex seems unfamiliar to newbie traders. They take years to understand Forex but hardly can. It means the approach they understake is faulty. A trader should develop himself step by step and every mistake is a lesson for him.

It is so key to take it slowly. I would try to focus on the process as much as possible rather than the outcome. You would be surprised how quickly you succeed when not focused on money or how well youre doing

Newbie must have a clear understanding of forex calculations. Other things like indicators and price action comes later in the journey. With calculation I mean, what should be RR and position size. And one last thing is newbie should never forget that se/he is new to the market.