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When a trader is a newbie

Mar 02, 2021 at 03:59
142 Replies
Biedrs kopš   80 ieraksti
Sep 07, 2022 at 12:01
When you’re a newbie in trading one should keep in mind:

1.Learn the basics on demo trading account.
2.To always be a learner.
3.Taking risks which one can afford.
4.Use low capital initially to begin with.
5.Have a trade checklist.
6.Avoid shortcuts.
7.Review your trades.
Biedrs kopš   40 ieraksti
Sep 15, 2022 at 09:47
As a newbie I feel having some amount of knowledge before we actually start trading is really crucial because that is gonna be our base for the rest of our trading career and also if one wants to get early into trading then you can join similar courses like trading based monthly batches which are available on internet, they will really be a great help.
Biedrs kopš   36 ieraksti
Sep 21, 2022 at 11:56 (labots Sep 21, 2022 at 11:56)
Newbies should learn to analyze the charts for better understanding of the market movements.

Suradi (FXOday)
Biedrs kopš   470 ieraksti
Sep 21, 2022 at 23:42
No matter a newbie, all professional traders also come from newbie. Just like in school, there are classes education stage, and to reach the next stage of class we need to pass the education test.
Biedrs kopš   7 ieraksti
Sep 22, 2022 at 06:31
Stop loss is the single best thing in FX trading. Without stop loss you will get lost. Just make sure stop loss is sensible. Don't use a thousand pip stop loss and think that you are safe
Biedrs kopš   11 ieraksti
Sep 22, 2022 at 12:12
When you are new to trading always prefer to trade on a demo account first and use stop loss after then switch to a live account after practice and try spending more and more time on daily market study.
HeavenLeighGill (HeavLeighGill26)
Biedrs kopš   401 ieraksti
Sep 22, 2022 at 16:16
AndrewMcCalam54 posted:
the new Forex trader always try to bring good amount of profit with no learning . this is a very common mistake.
True. I feel like beginners often focus more on dollars than self-improvement and confuse long-term goals with short-term ones.
Biedrs kopš   26 ieraksti
Sep 23, 2022 at 08:02
A newbie should take his time to practise in demo trading. Newbie traders are still learning, and understanding how forex trading works. If they start trading in a live account from the very beginning, they will be putting their capital at high risk. So, it is better to practise for a good amount of time, at least for a year. Practising in a demo account will help the trader strengthen his skills and understand which timeframe, risk:reward, leverage, etc suits his strategy the best.
Biedrs kopš   219 ieraksti
Sep 28, 2022 at 14:25
Every human being is infected with several bad qualities which should be removed to become a good trader.
Biedrs kopš   28 ieraksti
Sep 29, 2022 at 09:24
Marcolis posted:
Every human being is infected with several bad qualities which should be removed to become a good trader.

Not all bad qualities make a person a bad trader.
In fact, what kind of person does not give a shit. What matters is whether he or she makes money or not. Those who don't know how are not even considered. And those who can will be in demand with all their bad qualities. Even if there are not several.

As for the topic of the thread.
When a trader is a newbie he trades on demo :)
Biedrs kopš   6 ieraksti
Sep 29, 2022 at 09:54
Thousands of new traders join the forex market every month, but only a small percentage of trades manage to survive. Why? The cause of their failure is their lack of discipline & skills. As a newbie, you lack understanding of the market. To develop that, you need practice and learning. This, however, new trades are not open to. Hence, they fail. My suggestion to new traders is not to take any risk until you have a tested trading system. Also, trade for at least 6 months on demo trading before taking a risk.
Biedrs kopš   67 ieraksti
Sep 29, 2022 at 14:43
In my personal opinion, fibonacchi is a great tool for market analysis. It shows traders with different trading angles and points.
Biedrs kopš   67 ieraksti
Oct 01, 2022 at 10:54
Forex is a 24-hour open market and you can trade here anytime you want. Besides that, brokers allow traders with a multitude of trading facilities.
Biedrs kopš   40 ieraksti
Oct 04, 2022 at 08:09
I believe when a trader is a newbie they should devote their time in practicing on a demo account to understand the trading more precisely. Trading without a plan can result in drastic losses for those who jump into the process without a plan. So as a newbie learning should be a primary goal.
Biedrs kopš   28 ieraksti
Oct 04, 2022 at 11:36
LeoGM posted:
In my personal opinion, fibonacchi is a great tool for market analysis. It shows traders with different trading angles and points.
Its true. But how does this relate to the topic?😄
Biedrs kopš   183 ieraksti
Oct 04, 2022 at 14:47
Even though your broker offers you high leverage, you shouldn’t take high leverage because it will put you at stake.
Biedrs kopš   15 ieraksti
Oct 07, 2022 at 04:32
When I was a newbie, I was desperate to make money and took the wrong steps. Results? I blew up multiple accounts. Don’t make this mistake! Focus on your forex education first. You will make money once you know your way around the market.
Biedrs kopš   51 ieraksti
Oct 14, 2022 at 13:42
When I started I used to practice my trading strategies with demo accounts.
Oct 22, 2022 at 12:52
A trader is a newbie when he is new to Forex and has no trading expertise. We see these types of traders run wrong approaches over the market which result in losses.
Biedrs kopš   219 ieraksti
Oct 22, 2022 at 13:47
Day trading is a popular type of trading especially for those who fear to trade at night due to news movements. Those day trading is hard for those who are already engaged I other professions.
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