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Controlling your mentality as a newbie

When you're new to forex, its important that you learn to stay calm, cool and collective and avoid gambling with your money as well as not throwing all of your money in one basket. Also, its important to understand the high risk of forex and proceed in a controlling manner and build it up overtime instead of hoping to get it all in one day or one week. You must learn to be steady with forex and be patience. Its easy for one person, while there are many traders who lost over $100k in forex cause they get really greedy so do beware of easy losses. What other tips can you give to newbie to control their mentality?


Yes controlling thoughts, beliefs and emotions are very important in trading. It has been said that in trading 90% is psychological. That's why many people with good knowledge fail in trading. They just can not control their emotions. They take decision by their impulse.
 
Newbies are prone to mistakes and different losses cause they're not that experienced. Of course it also depends on knowledge and practice in demo account.
 
Newbies are prone to mistakes and different losses cause they're not that experienced. Of course it also depends on knowledge and practice in demo account.

Yes, it takes such a long time to learn Forex. In my 1st year of trading I also faced so many unbearable losses in my demo as like others newbie.
 
Keep a trade diary. If you express your intentions in a magazine, this will help you carefully plan your move, as well as see the correctness of your decision.
Stick to your plan. If you find a good trading strategy, then follow it. Try any changes on the demo account.
 
So many traders who are especially beginners feel uncomfortable when using EURUSD because its volatility. As a scalper I have to quite this currency and now I am looking for lowest spreads pair that can make me profitable by scalping that brings profit very rapidly.
 
Controlling the emotions is the key to success in trading. Forex trading includes feelings as there is benefit and misfortune. The issue is most traders overlook the mental part of the traders even they think about it. They don't take a shot at to build up their trading psychology. They pursue system. Regular they search for another 100% gainful methodology. Attempt to know the business first you will get achievement. .
 
It’s not easy task at all; since new traders don’t have the clue whatsoever! This is why new traders should use the demo account.
 
You may not do that anyway. How much you can make this possible on so many levels on so many things out there. How else you can make it possible ? You stop being a newbie after all that marks and only then do make something like that.
 
It all sounds beautiful and easy in words, but in fact I think you can't find any trader who doesn't make any mistakes and isn't nervous, I think that an error shouldn't become a reason for a lot of worry or stress, you need to give yourself strength to rest and recover, after that to work on capital recovery if it's necessary and try not to make the same mistakes in the future.
 
Forex trading is like a mind game. It requires one to think pretty hard. I f you are not good at mastering knowledge then the chances of you making loses are highg. I admit thta beginners luck also exists but its not for everyone. Ypu have to learn to trade.
 
Some people come in here thinking tht forex trading is kind of like a gamble and to their dissapointment it is not. They only realise it aftere they have lost. Put in a little amount. Do not go all in. Predicting the results is not that simple you have to loose sometimes.
 
I am sure this patience matters very much when it comes to the whole learning process. If a newbie has the ability to take all that knowledge in slowly to make sure that they understand then they are definetly cool. Once you know how things roll in here then you can get started oficially.
 
I know that some newbies who have read your post and seen those 5 years are quite suprised that it can take that long to learn forex trading. I t does take time. Learning about forex is like going to school all over again, you have to understand it fully to make sure that you do not make any money losing mistakes. The learning process never ends. i am still learning more each day.
 
When I was a new Forex trader, then I was unable to control myself because then I didn’t know, how to control in live market! By the way, right now I can do this job so smartly! Because, I have 5 years trading experience and lot of ups and downs.
So, how did you get a good hold on that issue? Any particular way or it just comes by experience?
 
Yeah, most people that quit forex trading are those who expected things to work out without them doing any serious work. You cant do forex is if you have no idea how things work in it. The whole learning thing is dreaded by some and that is the biggest mistake they make when they join. Knowledge is what willl keep you going in forex, there is no other way out if not sheer luck
 
we always advise to learn basic level for beginners level , but learning can be useless if there is no regular practice in demo or micro account , so besides learning it is more appropriate to emphasis on practice session
 
Controlling mentality as a newbie is important in trading. Trader need a clear mindset in trading. Trader should take short break when they find themselves in doubt mindset.
 
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