New Trader

for new trader to open a micro account is a very good source to see the broker performance how it works. so all beginners should follow the rules

i dont support any kind of live trading for the traders who are particularly newcomers. because this approach can make beginners emotional and greedy.

Imamul posted:
i dont support any kind of live trading for the traders who are particularly newcomers. because this approach can make beginners emotional and greedy.

Agree with you. Beginners should do demo trading for a few months so that they gain familiarity with the platform and when they have gained some confidence they can go live.

Practice makes a man perfect. It's true. But we need to practice in a systematic way. In demo most people do random trading. But we should actually develop our system in demo.

PeteLanceley posted:
Make sure that you practice on demo until you are confident.

You can learn on sites such as YouTube, or Babypips for free.

Yes. I agree with you. every new trader should practice on a demo account before starting live trading.

As a newbie trader, you must gain knowledge first, and after it starts trading with a demo account to get some good experience.

dalbamou posted:
Hi Paulo, my advice is not to use bots to 'scalping', brokers do not like it and you will end up losing money. Try to look for short / medium term bots, which have at least 20 pips of profit.

I agree with your advise.

Dictiony posted:
As a newbie trader, you must gain knowledge first, and after it starts trading with a demo account to get some good experience.

Welcome to the forex world. Speaking on experience and please have an open mind.
Focus more on the psychological aspect. Suprising trading is extremely simple, we as humans complicate it beyond belief. A quick babypips course is enough along side some tweak as time goes on to your trading method.

Also regarding demo accounts. Use these to test and get used to placing orders. Such as how different order types work such as limit and market orders, stop loss and take profit. Once your confident 'go live' with real money. Preferable with a cent account. $10 gets you 1000c and trade that as it will train your psyche which is the most important factor in my opinion.

Hope this helps

As a new trader, you should do your trade manually and not use robots.

Dictiony posted:
As a new trader, you should do your trade manually and not use robots.

Of course, you are correct.

A. robot wont gain you any experience in the markets.

Dictiony posted:
As a new trader, you should do your trade manually and not use robots.

Right. I also agree. New traders should know the market first before auto trading.

I think first they should focus on learning. Most newbies start to run for strategy. They ignore the fact that for successful trading one needs deep knowledge and understanding of the market.

dalbamou posted:
Hi Paulo, my advice is not to use bots to 'scalping', brokers do not like it and you will end up losing money. Try to look for short / medium term bots, which have at least 20 pips of profit.

Yes, I agree with you. I use any strategy but if I can't implement that strategy properly on the platform, it has no value.

Dictiony posted:
As a newbie trader, you must gain knowledge first, and after it starts trading with a demo account to get some good experience.

Yes, your idea is correct. I think it is never possible to survive in trading without knowledge. New traders will therefore have to gain experience by practicing the demo first.

Beginners need to be extremely attentive enough and grasp all the information.

Beginner traders should acquire trading education attentively. If trading education is not achieved properly, making a profit will be much more complicated.

'Learn and Earn' is the biggest rule of thumb of this forex market.

WaltonCharles posted:

LukeRachel posted:
Beginner traders should acquire trading education attentively. If trading education is not achieved properly, making a profit will be much more complicated.

Education is the mandatory thing in this market to make money.

Of course, education is very important in trading. You can't survive in this market without knowledge.

Alexthetrader posted:
'Learn and Earn' is the biggest rule of thumb of this forex market.

Yes, it is the responsibility of every trader to acquire trading education.