For newbie long term trading

For newbie long term trading is good as it helps to develop trading psychology. And for long term H4 and D1 time frames are good. But above all, the best is what works for you. What works for me may not work for you. By study and experiment you have to find out what you understand the most and what works for you.

Before making any investments, a newbie needs to understand his requirements. They must practice as much as they can on their demo account and then, plan what they really want to do.

Yes, working and developing a trading psychology really helps a trader for long term growth. It is also important to have the right trading mindset.

You just need to set yourself up for trading and set priorities for yourself.

Duktilar posted:
You just need to set yourself up for trading and set priorities for yourself.

I guess a newbie should first learn at least the basics of trading. There is no point of trading without any prior knowledge.

Of course, you are right, there is no point and logic in trading, I have no idea about anything.

Raywilkins665 posted:

Duktilar posted:
You just need to set yourself up for trading and set priorities for yourself.

I guess a newbie should first learn at least the basics of trading. There is no point of trading without any prior knowledge.

Yes. Also, a new trader needs to understand that you won’t be getting profits as soon as you start trading. You have to keep yourself prepared for the losses too though they can be covered up later.

Raywilkins665 posted:
I guess a newbie should first learn at least the basics of trading. There is no point of trading without any prior knowledge.

NO doubts about it, learning is the first step in any field, including forex. If one has little or no knowledge, then there is hardly any chance of achieving success.

ramirokeller posted:

Raywilkins665 posted:

Duktilar posted:
You just need to set yourself up for trading and set priorities for yourself.

I guess a newbie should first learn at least the basics of trading. There is no point of trading without any prior knowledge.

Yes. Also, a new trader needs to understand that you won’t be getting profits as soon as you start trading. You have to keep yourself prepared for the losses too though they can be covered up later.

I too had this thing in mind that I’ll be facing loss at the start but thankfully it was not that much. Maybe partially also because of low cost brokers like fxview and XM that I used. I have always researched before trading in anything and double checked before taking any decision. If a beginner will keep these small things in mind, he won’t be facing any problem. Afterall it’s all about being more responsible towards your own money.

Raywilkins665 posted:

ramirokeller posted:

Raywilkins665 posted:

Duktilar posted:
You just need to set yourself up for trading and set priorities for yourself.

I guess a newbie should first learn at least the basics of trading. There is no point of trading without any prior knowledge.

Yes. Also, a new trader needs to understand that you won’t be getting profits as soon as you start trading. You have to keep yourself prepared for the losses too though they can be covered up later.

I too had this thing in mind that I’ll be facing loss at the start but thankfully it was not that much. Maybe partially also because of low cost brokers like fxview and XM that I used. I have always researched before trading in anything and double checked before taking any decision. If a beginner will keep these small things in mind, he won’t be facing any problem. Afterall it’s all about being more responsible towards your own money.

Absolutely. Taking care of these small things results in big profits. If not big, it can still give satisfactory results.

No matter what the trading style is, a newbie should come prepared with sufficient knowledge and skills and should possess patience.

I'm a beginner, and I've been doing short term trading for four-month, so far it's going well.

I'm looking to try long term trading but wanted to know if there are any major risks in it or is it too early to start trading long term?

It is not possible to make money from trading if trading psychology is not managed properly. In this case, you need to create a proper mindset. And we have to move forward in trading with long term goals.

Due to the fact that long-term trading implies a profit that will be quick for me, many beginners do not try to get around this.

The risk is lower than short term trading to long term trading. It is possible to follow money management properly.

I agree! Keeping a track of how to maintain the right trading mindset can come as a big help for newbies.

Yes, trading psychology is fundamental for traders and they need to make up the right trading mind for trading peacefully.

TradeHut posted:
No matter what the trading style is, a newbie should come prepared with sufficient knowledge and skills and should possess patience.

I agree with you.

A beginner can even try for a short period of time to be able to properly distribute funds.