Newcomers should focus on others inevitable part of trading besides acquiring good trading knowledge. Controlling emotions , avoid revenge trading , over trading , money management ,RR and much more things they have to observe for avoiding unfortunate loss.
For a new trader, it is a must for him to follow the rules of the market and must start practicing over a demo account and should develop a trading strategy and should test it with demo trading and if it works he can go forward with it to make a profit with real trading.
I have to make a separate plan for each trade. If my plan is right, I have to maintain discipline and participate in the trade. I try to earn 10% monthly. And does not take more than 2% risk for a trade.
Yes, it is anyway difficult to make money. Keeping the expectations low is a good thing for beginners. Setting up 2 accounts is a very good tip, especially for beginners who are unsure about how to get started in the market. Even making 1 to 2% profit can be a target.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.