May 18 2021 at 00:15
Money management is very important in trading. If money management is followed with the plan, it will be difficult to make a profit.
Yes, difinitely 1-2% is good and it should be target for every new trader.
May 18 2021 at 09:08
1-2% sounds really reasonable, and actually quite effective
May 18 2021 at 11:19
Definitely, 1-2% is good for a new trader. However, Demo trading is very important for every trader. So please demo trade for a good amount of time before you go live.
Suggestion for newbie traders is try to understand the trading business. You have to have knowledge and skills to do good in trading. Don't expect to make money just by entering into the market. Try to learn the mindset a professional trader should have.
SofieAndreasen posted:AliaDare posted:
I think new traders should do demo trading first. If he can develop a strategy by trading a demo, he can get some good rewards from trading.
Demo is a risk-free account. Always start trading with demo account.
Yes, that's right. But if I do demo trading, emotion will work less. So I should do real trading with a small deposit.
Nov 24 2021 at 07:10
AliaDare posted:SofieAndreasen posted:AliaDare posted:
I think new traders should do demo trading first. If he can develop a strategy by trading a demo, he can get some good rewards from trading.
Demo is a risk-free account. Always start trading with demo account.
Yes, that's right. But if I do demo trading, emotion will work less. So I should do real trading with a small deposit.
A demo will help a trader to improve their trading skills.
AliaDare posted:SofieAndreasen posted:AliaDare posted:
I think new traders should do demo trading first. If he can develop a strategy by trading a demo, he can get some good rewards from trading.
Demo is a risk-free account. Always start trading with demo account.
Yes, that's right. But if I do demo trading, emotion will work less. So I should do real trading with a small deposit.
Exactly as you understand, proper emotions work in live trading. So even if you invest a little, you need to work in live trading.
I don’t understand how OP’s advice of creating two accounts and using one account as gambling account is useful for new traders. Even if you are doing your best on the first account, it still doesn’t guarantee profits. By opening a second account at the same time to satisfy your urges, you are doubling your potential to lose money. Even if the accounts are different, money is coming from the same source: your bank account.
Definitely, be humble and grateful.
Please explain.
Please explain.
Not Specified
@Tuxedo888 Usually what happens is most new traders try to make a lot of trades in the hope of making more money in short time. But without enough knowledge and experience, it's not possible. One should expect profit according to his ability not what others are doing
For beginners in general, there are many rules and requirements that can help achieve a result.
skihav posted:
For beginners in general, there are many rules and requirements that can help achieve a result.
You need proper planning to become successful in this market.
Dec 01 2021 at 19:37
I think it's helpful to focus on self-improvement and not losing money in the beginning, but a lot of us are so focused on making money quickly.
Dec 02 2021 at 05:24
If you have the skill of money management, then you can definitely make money trading forex. If you want a good return from forex trading, then you should definitely have the skill and strategy to employ when trading forex. Beginners can also make money with forex trading if they do their analysis correctly and follow the right strategy.
The first and foremost priority of new traders must be to learn and at the same time protect their trading capital, and if little profits come along appreciate that. There’s no such thing as free lunch in the market. You have to pay the cost for learning and it’s in your hand to save as much as you can. Don’t expect profits right away.
Dec 03 2021 at 07:24
HeavLeighGill26 posted:
I think it's helpful to focus on self-improvement and not losing money in the beginning, but a lot of us are so focused on making money quickly.
Definitely, focus should be on learning first on how to manage the risk.
Dec 03 2021 at 08:47
pipham posted:
The first and foremost priority of new traders must be to learn and at the same time protect their trading capital, and if little profits come along appreciate that. There’s no such thing as free lunch in the market. You have to pay the cost for learning and it’s in your hand to save as much as you can. Don’t expect profits right away.
Yes. It is very necessary to learn and practice.
