For newbie small capital is good. Actually what I think is when you start forget about capital and profit. Focus on knowledge and skills. Most traders make this mistake, they focus on profit at the first hand. They don't realize that forex trading requires specific knowledge and skills. I would recommend to study and research as much as possible.
First year of trading should be all about learning and demoing. I would not consider trading for profit until after that
Oct 21 2020 at 18:27
Definitely, I agree with both of you. Trading is portrayed as a way to get rich quick way too often, but we need to be careful and not let greed dictate our decisions.
Wreeves posted:
First year of trading should be all about learning and demoing. I would not consider trading for profit until after that
Agreed, sufficient time should be given to learning, research and demo trading in the beginning, however, that time period can vary for all I guess.
Oct 22 2020 at 20:47
Most of the new traders lose their investment because of picking the wrong strategy. So, try to pick the suitable and right strategy according to your trading plan.
Oct 23 2020 at 11:19
Stress upon learning and practicing, that's a must for a newbie, atleast for some initial years of trading.
Every trade, every trade will be heightened, emotional, and we will always be under stress.
Michihito posted:
For newbie small capital is good. Actually what I think is when you start forget about capital and profit. Focus on knowledge and skills. Most traders make this mistake, they focus on profit at the first hand. They don't realize that forex trading requires specific knowledge and skills. I would recommend to study and research as much as possible.
Well said, People focus more on profits than enhancing their knowledge base. A better thing is to pay more attention on learning and practicing than on profits, profits will automatically flow if your concepts, strategies are right.
Oct 28 2020 at 01:12
Of course, small capital is needed to reduce losses. When a trader joins new trading he has less knowledge about trading. In this case, if he is given a big investment, he is more likely to lose that investment. So a new trader needs to acquire a lot of information and knowledge.
