New Forex Trader Here

according to me, newcomers shouldn’t focus on his winning trade percentage, he or she always have to emphasis to minimize risk and never trade with emotions.

newcomers always try to learn foor trading book, the bookish knowledge we acquire from reading a book , practically not works when trading in live. we should practice more and more.

Roberto21 posted:
newcomers always try to learn foor trading book, the bookish knowledge we acquire from reading a book , practically not works when trading in live. we should practice more and more.

Focusing on Risk Management would greatly reduce the level of losses, unfortunately, most new traders only focus on unrealistic profits, and ignore risk management.

Mohammadi posted:
according to me, newcomers shouldn’t focus on his winning trade percentage, he or she always have to emphasis to minimize risk and never trade with emotions.

EXACTLY! Risk Management is the #1 priority.

It's so simple and yet greater than 90% of traders lose in the markets because they focus on the strategy and profits above all else and ignore the #1 rule. :)

kamikazebogeyman posted:
You can also overcome them by using a Forex robot or trade copier. Getting someone else trade trade for you could be bset solution

NO.


The BEST advice is to learn proper RISK MANAGEMENT.

Risk Management is the #1 priority.

By paying for a signal or buying a robot off the net is absurd.

Think about it.

Having someone else trade your account, just means you are allowing someone else to possibly lose all your investment capital.

As for robots.... NEVER PAY FOR A ROBOT YOU SEE ADVERTISED ON THE INTERNET.

We see them everyday. '$99.95 Elilte Packages', '$500.00 Secrets to trading' and other scams.

Think about it reasonably for one moment.

If the bot works, why are they bothering to sell it? They'd be INFINITELY WEALTHY, they wouldn't sell it.

Here is the true 'elite secret' to being profitable.

'RISK MANAGEMENT'

If you PROPERLY manage your risks, you will increase your overall profits and greatly reduce your losses.

there are almost thousands broker in online retail Fx market and most of them are found to be scams. Regulated trading broker can be a great choice which for all time makes sure security of funds at any deposits with a wide range of trading technologies.

Professional4X posted:

kamikazebogeyman posted:
You can also overcome them by using a Forex robot or trade copier. Getting someone else trade trade for you could be bset solution

NO.


The BEST advice is to learn proper RISK MANAGEMENT.

Risk Management is the #1 priority.

By paying for a signal or buying a robot off the net is absurd.

Think about it.

Having someone else trade your account, just means you are allowing someone else to possibly lose all your investment capital.

As for robots.... NEVER PAY FOR A ROBOT YOU SEE ADVERTISED ON THE INTERNET.

We see them everyday. '$99.95 Elilte Packages', '$500.00 Secrets to trading' and other scams.

Think about it reasonably for one moment.

If the bot works, why are they bothering to sell it? They'd be INFINITELY WEALTHY, they wouldn't sell it.

Here is the true 'elite secret' to being profitable.

'RISK MANAGEMENT'

If you PROPERLY manage your risks, you will increase your overall profits and greatly reduce your losses.

I read a lot of people saying this about risk management but my worry is that even with the best risk management in the world you will not be able to make a profit if you do not have a trading strategy that works

for newcomers In Forex trading lowest spreads is a big deal when choosing a broker. From all trading elements in this market place spreads is mainly considered as an important financial tool which an investor should consider when choosing a broker. Lowest trading spreads is very much supportive to make profit with certainly by using any kinds of trading strategies in particularly the scalping that brings profit in a short time.

HertzTrader posted:
I read a lot of people saying this about risk management but my worry is that even with the best risk management in the world you will not be able to make a profit if you do not have a trading strategy that works

It doesn't matter which specific strategy an investor has decided to trade with, as long as the strategy presents little to no risk, and can generate a reasonable and consistent profit level. The strategy is secondary to Risk Management and effective money management.

The difference between a truly profitable investor and someone who consistently loses in the markets is effective Risk Management.

Effective risk management includes:
Profitable low risk investment strategy
Use of reasonable and realistic stoploss targets.
Use of reasonable and realistic takeprofit targets
Small lot sizes
Careful attention to the news events that could impact your currency pairs. (Fundamental analysis)
Trade without emotion
Automate where reasonable and realistic

There are other things such as technical analysis but the point is that Risk Management is the #1 priority in profitable investing.

Everything else is a secondary concern, including the profits.

It would be better , if we get real trading facilities from our brokers as like superior execution , security of funds at any kinds of investments , low transaction cost , easy withdrawal system without long time process, free demo trading , active customer services , exclusive educational facilities , lowest trading spreads , usable bonus offer and much more that are very supportive to lead a comfortable trading life with certainly.

If you are new in this market, you have to make a plan to make a profit from this market. on the other hand, you need a reliable broker. Without a good and reliable broker and a good plan, you can not make money from this risky market.

hello am new to forex trading how can you help me to e exprt on it

New traders have a lot to learn to trade Forex. If a trader trades without learning, he will not be able to survive in the market for long. If you have to learn trading first, then you can make some profit at the end of the month. Trading is not an easy task as you come into trading and earn money. Brokers are an important part of trading. I learned a lot from the broker's website at the beginning of my trading career. As a trader, I always gather information from Eurotrader.

For the newbie, trade with low expectation and try your best. All the best.

If you want to minimize your losses, you have to make a proper plan. Without proper plan, it is quite difficult to survive in this risky market.

Welcome here as a newbie, if you are a learner than keep learning and practicing because without knowledge it is difficult to make some good profit.

The best thing a new trader can do is create a demo account and practice what he has learned to gain confidence before real investing.

For any new Forex trader, knowledge is power. In the beginning, you must only focus on honing your skills.

Every new trader should be very careful; when they are going to choose a regulated broker for their trading. Because their are so many fake brokers in this market.