Need help for be a good trader

smith_fx posted:

natalieFx posted:
hi everyone, i am a natalie, i am a teacher, i am interested in forex trade but i have no experience in trading, i heard that myfxbook is a good community and i should get here good suggestion or advice .

if i say 100% truly i have just idea about forex but not in trading so i want to be a trader,,,

Now your turn, for give me suggestion or resource,,, advanced thanks. 😐

Hey natalie , its wonderful to see how keen you are in learning trading. You can start with the following :

Read some books on trading such as market wizards and intelligent investor.
Keep yourself updated with the news and markets.
Go through magazines and newspapers regularly related to trading.
Visit websites that provide a full course on learning trading and forex such as babypips and others.
Once you get a hang of it , practice on a DEMO account for as long as you want until you are ready to trade on a real account.

Hope this helps!

Good advice

To be good trader take your time to learn before you earn. Rome was not built in a day.

Actually how much we can earn our trading it depends on the markets movements. It’s not countable at all by our trading accounts. I was profitable when I started my live trading with 1K. but I did huge loss when I increased my balance in 2.5K but there was same strategies with same money management.

Imamul posted:
Actually how much we can earn our trading it depends on the markets movements. It’s not countable at all by our trading accounts. I was profitable when I started my live trading with 1K. but I did huge loss when I increased my balance in 2.5K but there was same strategies with same money management.

Agree! profit depends on the market movemnts, if market is highly volatile then chaces of making money becomes higher (but never forget the risk as well which comes with high volatility).
And needless to say poor money management can destroy you.

If I were you, I would save myself a lot of time and look up 'ICT xmas', and really subscribe to his channel. Everything any 'Guru' is going to teach you is BS. %90 of traders lose money. Coincidentally, %90 learn the same thing. So learn about market makers, learn about order blocks, and market manipulation and how it works. Then youll find yourself not like the rest.(Well, after you get money management down.) Ive been trading for years and im just realizing the true issue. Indicators don't work, its only price action you should care about. If indicators did work, wouldn't everyone be making money? Just look into it.

Nasiir83 posted:
If I were you, I would save myself a lot of time and look up 'ICT xmas', and really subscribe to his channel. Everything any 'Guru' is going to teach you is BS. %90 of traders lose money. Coincidentally, %90 learn the same thing. So learn about market makers, learn about order blocks, and market manipulation and how it works. Then youll find yourself not like the rest.(Well, after you get money management down.) Ive been trading for years and im just realizing the true issue. Indicators don't work, its only price action you should care about. If indicators did work, wouldn't everyone be making money? Just look into it.

I will check out this channel, thanks.

Slow start and steady. Also don’t let emotion get in the way of your plan for successful trading.

jaredtaylor posted:
Slow start and steady. Also don’t let emotion get in the way of your plan for successful trading.

Yeah! And also don’t put all your money in trading or for what that matter don’t invest more than you can afford to lose.

I read all these advice in many forum topics addressed to beginners or traders who`s not profitable, and its easy to see that most ppl on this site just simply ignore Fundamental analysis!! I`m really curious why that is?
Do you guys think fundamental analysis is so insignificant that most of the time it`s not even worth mentioning it?
Bcoz how I see it, the price mostly moves based on the fundamentals, so I think it is really something that everyone should get into a little bit at least.

So if you wanna be a good trader, i strongly advise you to get into and start reading about it, and in time you won`t just see the charts and think ''hmm, the price went up, but i have no clue why'', you will actually understand the reasons behind price moves and you`re confidence will grow significantly in your trading.

The journey to being a good trader is akin to being a ship captain, you must solely focus on it

Having a good startegy is the most important part

You are in the right correct hands my dear and I am more than sure that we really can help you with that if there will be a need for such, are you able to put out some things on it or not? do you set some money aside for that matter or not?

Gabor33 posted:
I read all these advice in many forum topics addressed to beginners or traders who`s not profitable, and its easy to see that most ppl on this site just simply ignore Fundamental analysis!! I`m really curious why that is?
Do you guys think fundamental analysis is so insignificant that most of the time it`s not even worth mentioning it?
Bcoz how I see it, the price mostly moves based on the fundamentals, so I think it is really something that everyone should get into a little bit at least.

So if you wanna be a good trader, i strongly advise you to get into and start reading about it, and in time you won`t just see the charts and think ''hmm, the price went up, but i have no clue why'', you will actually understand the reasons behind price moves and you`re confidence will grow significantly in your trading.

Well i would agree with you, the importance of neither fundamental nor technical analysis can be underestimated. Both are important and must be taken together than focusing on one alone.

If you want to be a good trader then first you need to know trading rules.
Because without knowledge you can not be a good teader. You need connect a good broker. Trading is a very risky business but if you know the perfect using of forex trading then you can also make money with trading.

Thank you
@mdsh7864

IT's not working like that, sorry, you really need to improve something in yourself to be that cool anyway. Thanks for reminding me about anything else entirely and clearly. I do want to get it better absolutely. LEt's move on with that;)

Revenge trading is just part of immaturity, nothing without it. Beginners always try to take revenge when fall a great loss especially trade with high leverage due to non sense planning.

If you want to be a good trader you need to be very careful when you are going to trade. You need to make a profitable strategy to make money from this market. You need to have proper knowledge about the market situation. Never try to make decisions from heart. Always make decisions with your brain.

The most basic and important help you should provide yourself.

I was never helped anyway, this made me to develop my own trading techniques I have been using obe a decade now.