When a trader is a newbie

When a trader is a newbie in Forex , the first thing he or she should be doing to do more of the learning. The beginner traders do not know which road to take in Forex and that is why they are always getting confused, it is better when they take their practicing and learning very serious so that they can learn better.

Yes, beginner they need to learn and doing more on practice even use demo account, with practice hence will make perfect, we often hear this quotation and this is good to motivated our trading journey, which as trader must more practice on real trading than only from theory.

Yes learning is most imp while you are a newbie. this is the time when you can make it or break it..

I think a trader is still a newbie if he has no knowledge of the forex market although he is trading on call and trade. The real trader is the one who is trading on forex with his skills. The tag of newbie can only be removed with experience.

blackChelsea posted:
I think a trader is still a newbie if he has no knowledge of the forex market although he is trading on call and trade. The real trader is the one who is trading on forex with his skills. The tag of newbie can only be removed with experience.

Yes, a skilled trader will surely benefit from the market and since they know how everything works, they can be at an advantage.

Newbie do not have any knowledge when entering into forex market, so it is advisable to start preparing and understanding how forex market and how trading happens.

reggae posted:
Newbie do not have any knowledge when entering into forex market, so it is advisable to start preparing and understanding how forex market and how trading happens.

Right. That’s why most new traders often lose money in the market.

Michihito posted:
When a trader is a newbie in Forex , the first thing he or she should be doing to do more of the learning. The beginner traders do not know which road to take in Forex and that is why they are always getting confused, it is better when they take their practicing and learning very serious so that they can learn better.

I think beginner should trade on demo account for atleast 6 months

Yes, new traders must learn about trading. If he can't get an education, he will never be able to succeed by trading.

Beginners might not know where to go and which way to go. They really need to find their own way of making money instead of following someone else.

When you are a beginner, you do not know where to start, so it is better if you can start gaining knowledge by following some courses (make sure it is free) and learn as much as you can so that you will be able to gain better understanding in future

Can you suggest any free courses which are good and understandable. Although I have studied a lot but am not able to make much profit. I want to know where I am going wrong.

I think that a trader is a newbie until he has gained sufficient knowledge to trade. Forex trading is all based on knowledge and dedication and to make a place in the market, beginners need to spend their enough time on learning.

Lots of free courses online, including Babypips and YouTube. Practice on demo until you are consistent, and then consider going on a live account.

TradeHut posted:
I think that a trader is a newbie until he has gained sufficient knowledge to trade. Forex trading is all based on knowledge and dedication and to make a place in the market, beginners need to spend their enough time on learning.

Right. New traders should spend more time to learn the trading properly.

Knowledge is the primary need for trading. Then you need to know the effective way to use your knowledge. As proverb says, Knowledge becomes weapon when applied effectively.

Every new trader should practice on a demo account before investing their money in this risky market.

Michihito posted:
When a trader is a newbie in Forex , the first thing he or she should be doing to do more of the learning. The beginner traders do not know which road to take in Forex and that is why they are always getting confused, it is better when they take their practicing and learning very serious so that they can learn better.

Just go with the demo account and rest will follow

Yes, learning should be the first and the last step in trading and a newbie should focus on that.