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Beginner's Tips

Denis
Kalamo (Kalamo)
Dec 19 2019 at 01:09
108 príspevkov
When trading Forex you definitely need to know where are the daily, weekly and monthly pivots, supports and resistances of the currencies that you are trading. Without having these on your charts is like trading blind. Always draw you Fibonacci retracements for extra help.

You must then try to identify the market direction on larger time frames and trade with good money management. Also beware of the economic news as some of them have a huge impact on the currencies.

Don't ever think you can trade a make money on Forex by doing it from a smartphone...

Mohammadi
Dec 21 2019 at 09:20
852 príspevkov
in demo traders trade at random most of the time , because there is no emotions . but in live no way to avoid emotions when trading.

Imamul
Dec 21 2019 at 10:17
562 príspevkov
beginners love to reed trading books. the bookish knowledge we acquire from reading a book , practically not works when trading in live. we should practice more and more.

AmContent (AmContent)
Dec 22 2019 at 16:21
1 príspevkov
I am not sure if this content is cloned or reiterated or not, but it is so important that should be reminded to both newbie and experienced traders over and over.

Money and Risk management and respective provisions
Before executing any trade, regardless of long-term or short-term, please make sure the exit levels are predefined. Calculate the exit quotes meticulously irrespective of profit or loss. Utilise the chart tools, indicators, and your imagination to illustrate the worst case scenario, and then you should come up with a getaway plan in case the market moves against your transact.

Keep an eye on news, economic calendar and market sentiment.

The market resembles a war zone but between bulls and bears, make sure you are ready to be in frontier.

Imamul
Dec 28 2019 at 11:59
562 príspevkov
Before large investments we generally open a demo account in a broker to see the performance how it works. But I have seen, after large investments brokers attitude changes sometimes that is not available in micro accounts.

Mohammadi
Jan 03 2020 at 09:37
852 príspevkov
The newcomers cannot avoid losses by their greediness and emotions, it’s true. But the regular traders cannot come out their losses because of having most powerful risk management and MM. they always fours on just acquiring good trading knowledge . of course we have to do it. But besides it must be focused on risk managing approach if we want to avoid losses.

Imamul
Jan 06 2020 at 02:05
562 príspevkov
So many new Forex traders try to make money from here without learning. As a result they become loser due to lack of exact trading knowledge. It’s a common thinking. I think by and large lose because they trade with emotions and don’t know how to manage money in Forex.

figfilli
Jan 06 2020 at 13:44
11 príspevkov
To many lose because they do some learning and then think they are the master of Forex. They are not. It takes years of learning and practice to be a pro.

togr (togr)
Jan 06 2020 at 14:26
4862 príspevkov
The question is why should beginner make any money on forex?
If you would like to earn money in any proffession it would take years of studies and practice.
Becoming doctor or even plumber is not fast and easy way.
So why would be forex any different?

jamesgwyther
Jan 07 2020 at 10:49
289 príspevkov
togr posted:
The question is why should beginner make any money on forex?
If you would like to earn money in any proffession it would take years of studies and practice.
Becoming doctor or even plumber is not fast and easy way.
So why would be forex any different?


Most sensible thing you have said all day...……..

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