One important advice for newbie is to start with demo first. You will get to know what you can do and what you cannot do in the trading, all thanks to demo trading.
Practicing on a demo account is very helpful for beginners before jumping into live trading. After this, it's always advisable to start small on a micro account.
Demo platform and trading practice is required as a new trader. Trading cannot be done without experience.
demo is good for practice there is no way to deny but the main problem is the result we get from demo actually it not works when trading in a real account.
Dec 17 2021 at 08:10
AliaDare posted:
Demo platform and trading practice is required as a new trader. Trading cannot be done without experience.
It is so key to do this like doctors practice for months on cadavers and when they make a mistake they correct the technique they dont just hop into surgery and learn whilst performing
I agree but most who come in don't want to look at trading like a profession and a degree to get to be proficient in that subject area. They look at it as a gamble, and just as they do with the bookies, they lose.
If you can't spot the liquidity then you are the liquidity.
CraigMcG2020 posted:Accurate quote, Demo Platform is the artisan of creating successful traders. Where I can be successful if I trade seriously.AliaDare posted:
Demo platform and trading practice is required as a new trader. Trading cannot be done without experience.
It is so key to do this like doctors practice for months on cadavers and when they make a mistake they correct the technique they dont just hop into surgery and learn whilst performing
Dec 19 2021 at 19:43
AliaDare posted:A demo is the best platform to practice and learn forex.
Demo platform and trading practice is required as a new trader. Trading cannot be done without experience.
SteveHanks posted:Well, it is easy to develop a strategy on the demo platform. So I think demo platform is for best trading practice.AliaDare posted:A demo is the best platform to practice and learn forex.
Demo platform and trading practice is required as a new trader. Trading cannot be done without experience.
the new trader always try to bring more profit by using high leverage , its a very wrong decision , without no money management thats not possible at all to make profit by using high leverage.
Imamul posted:I agree with you, every trader should know the two main strategies which are money management as well as risk management.
the new trader always try to bring more profit by using high leverage , its a very wrong decision , without no money management thats not possible at all to make profit by using high leverage.
Dec 21 2021 at 16:30
Studying everything beforehand definitely leads to a higher success rate. Too many beginners are looking to make a quick buck and they jump in way too soon, which accounts for a large percentage of failed traders.
Dec 21 2021 at 18:10
ForwardX posted:Traders should have proper knowledge to make money from this market.Imamul posted:I agree with you, every trader should know the two main strategies which are money management as well as risk management.
the new trader always try to bring more profit by using high leverage , its a very wrong decision , without no money management thats not possible at all to make profit by using high leverage.
It is extremely important for a beginner to get a minimum of experience. As for me, this is the most correct choice.
Dec 22 2021 at 04:08
Short-term trading may be difficult for novice traders. There is not enough experience to perform the synthesis of timeframes - systemic perception and analysis of price fluctuations over time intervals of different durations. Important news releases can complicate trading decisions. Due to the unpredictability of the market at such times, a novice trader exposes his deposit to great risk. In general, inexperienced Forex traders should start with large timeframes from H1, since they clearly show the direction of the trend.
One thing we should remember that the more time we can invest the more knowledge we can get and like that we can increase our confidence and self attitude towards the business
I believe that this is the most critical period for a trader. It is at this time that it is important for a trader to get maximum knowledge and experience.
Beginners should know money management and risk management as well as a trading strategy that suits them. They should learn to read charts and use indicators. It will help them to achieve goals and avoid making mistakes.
No wonder that demo is a good platform for practising. But practising without learning is time consuming and may result in losses in future. I recommend newbies to read and learn as much as you can before getting your hands on demo. It is sitting right there and can be accessed whenever you want. But being patient and acquiring the required knowledge before getting there is going to help you a lot.
Newbies should learn and forget about gaining profits in the very beginning. There are lots of educational resources where you can get the knowledge necessary for trading and understanding this kind of activity. However, many beginners underestimate the importance of education which makes them lose lots of money and spoil their attitude to the markets and trading as a whole.
