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New in forex trading

Dambovita
Oct 09 2018 at 10:16
9 příspěvků
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
Oct 10 2018 at 10:02
41 příspěvků
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
Oct 10 2018 at 14:48
886 příspěvků
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
Oct 12 2018 at 05:57
685 příspěvků
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
Oct 19 2018 at 05:39
920 příspěvků
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
Oct 24 2018 at 07:37
11 příspěvků
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
Oct 24 2018 at 10:11
10 příspěvků
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

Denis
Kalamo
Oct 26 2018 at 09:15
108 příspěvků
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
Oct 28 2018 at 07:41
10 příspěvků
Keep trying. If you blow 4 demo accounts then try a fifth. You will never get anywhere without trying and persistance.

Matt (BluePanther)
Oct 28 2018 at 08:51
1356 příspěvků
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)

failuresfx
Oct 28 2018 at 08:51
17 příspěvků
Babypips school. First thing to do.

AmDiab
Oct 28 2018 at 08:53
718 příspěvků
Kalamo posted:
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.


You are absolutely right! New Forex traders should focus on their learning process! Forex trading is too much risky without proper trading knowledge & experience.

millerwe
Nov 01 2018 at 14:25
14 příspěvků
read as much as you can before starting to trade. then start with demo and then when you think you are ready to go live open a micro account.

Mohammadi
Nov 15 2018 at 07:59
886 příspěvků
Newcomers always attacked by the greed and fall a great trouble when trading practically. We cannot avoid greed and emotions. Because this is a part of common human nature but we can be discipline which can support us to control greed and emotions.

frank (crabby12)
Dec 03 2018 at 12:27
9 příspěvků
There are a lot of things needed to be mentioned. Courses are good but most course providers haven’t actually traded. Half of them are just bringing clients to brokers to earn commissions. I prefer some trusted platforms https://fx-list.com/stock-forex-brokers. It is the best list to start without losing money. If you did find a neutral educator then great but most are not but will pretend they are. So I would say don’t waste too much time finding people to teach you.

Mohammadi
Dec 16 2018 at 09:03
886 příspěvků
For leading a secure and profitable trading life with certainly we the traders have to choose in regulated trading broker which guarantee their clients funds. Only regulated trading broker make sure security of funds at any deposits with a wide range of trading technologies.

Dictiony
Jun 24 2020 at 00:08
231 příspěvků
My recomendation is you must learn the Forex first and babypips school is the best place where you can learn and gain lot of knowldge about forex trading.

caringloriana
Jun 26 2020 at 10:17
26 příspěvků
As everyone said, babypips is the best place to get educated and learn about forex. Read some articles and books on forex. Research on your own and gain knowledge. Before you sign up with any broker, make sure you evaluate the broker well enough. There are brokers who manipulate their trading conditions and traders just end up burning their pockets. Go for a reputed broker who is in the market for long. Also, demo trading will definitely give you an edge before you start real trading.

EbonyJones
Aug 18 2020 at 19:00
232 příspěvků
IF you are new in this market, you need to be very careful. First of all, be careful when you choose a broker for you. Than be careful when you make a plan for you \r trading to make profit.

Shelby10
Aug 20 2020 at 13:37
140 příspěvků
If you are new in this market, be careful at choosing the broker. Because there are so many fake brokers in the market.

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