Beginner Forex tips

[barood4money]

my humble and kind advice to newbie is that they should endeavour not to have the wring mind set in forex trading were as seeing the business like that of a fast money making busiess although one could be able to become rich through forex trading but the person must have been doing some learning indoors.

Yes, it is true. You can be rich at forex trading. But before that you have to learn alot. You have to practice at demo account for months. then only you will understand all the strategies about forex trading.

 

[Decub]

my humble and kind advice to newbie is that they should endeavour not to have the wring mind set in forex trading were as seeing the business like that of a fast money making busiess although one could be able to become rich through forex trading but the person must have been doing some learning indoors.

Only if traders will remove that impression they have about Forex as a quick way to make money, a lot of them will go very far and make some good money from Forex. The business is that which requires uninterrupted commitment which can only be guaranteed if we take off our minds from what we hear as success stories.

 

[Angelic]

Only if traders will remove that impression they have about Forex as a quick way to make money, a lot of them will go very far and make some good money from Forex. The business is that which requires uninterrupted commitment which can only be guaranteed if we take off our minds from what we hear as success stories.

To be sincere I myself once had that same mindset about becoming rich as soon as I start forex trading but today here I am still earning measly amount from trading at times I loss more than I earn. But still good though since I am being able to earn and I believe that with time my potential earnings will increase.

 

[barood4money]

Only if traders will remove that impression they have about Forex as a quick way to make money, a lot of them will go very far and make some good money from Forex. The business is that which requires uninterrupted commitment which can only be guaranteed if we take off our minds from what we hear as success stories.

Well, if you take in other sense then you will see that forex trading is a quick money making place. Because whenever you need money, you can trade for a hour. You can get the profit in your hand withing next few hours. Actually i do this.

 

[Decub]

Well, if you take in other sense then you will see that forex trading is a quick money making place. Because whenever you need money, you can trade for a hour. You can get the profit in your hand withing next few hours. Actually i do this.

That is still what I mean. The concept of something being a money making machine is seen from the fact that such is capable of giving you money within the shortest period of time. Now coming to what you said, someone that can trade for an hour and get the desired profit is someone that has been trading which of course we know takes time to learn well. At least 6 good months.

 

[seeker]

My beginners tips is first learning forex trading, knowing the do and dont of the business, Knowing too well that forex trading is not a money making easily business. You will have to invest good and sufficient capital to be eligible to earn more.

 

[barood4money]

That is still what I mean. The concept of something being a money making machine is seen from the fact that such is capable of giving you money within the shortest period of time. Now coming to what you said, someone that can trade for an hour and get the desired profit is someone that has been trading which of course we know takes time to learn well. At least 6 good months.

Yes, it is true. We have to learn alot to reach this stage. And for that determination and dedication is very much important. Counting profit depends on the expectations. I can trade for how and can make upto 4 - 5% profit. But expecting 10% will be foolishness for me.

 

[Decub]

Yes, it is true. We have to learn alot to reach this stage. And for that determination and dedication is very much important. Counting profit depends on the expectations. I can trade for how and can make upto 4 - 5% profit. But expecting 10% will be foolishness for me.

Yes, that is mainly because of the stage you are. You find out that in 6-12 months time, you would have heard that experience and courage to open more positions, of course increased your capital, increase your lot size all in a bid to make profit.

 

[seeker]

Yes, that is mainly because of the stage you are. You find out that in 6-12 months time, you would have heard that experience and courage to open more positions, of course increased your capital, increase your lot size all in a bid to make profit.

I think that most of then time some one ability to learn fast matter and determine how fast someone will be able to learn, some people dont even learn up to 3months before they will be able to capture the real deal about forex trading. But essentially newbies will have to be cautious while they trade.

 

[Decub]

I think that most of then time some one ability to learn fast matter and determine how fast someone will be able to learn, some people dont even learn up to 3months before they will be able to capture the real deal about forex trading. But essentially newbies will have to be cautious while they trade.

Yes, IQ matters a lot in Forex, either we believe it or not, it contributes to how fast we are able to learn and how fast we are able to trade thereafter. Sometimes, you see certain people and it looks as if they are more skillful than others who they started with.

 

[Bonyi]

Beginners forex tops could be and not limited to:
- knowledge
- practice with demo account
- skills
- strategy
- patience
- discipline
- determination

 

[riddick09]

Mostly their focus first is to have the basic knowledge before they will head in the actual trading or in the platform. However, the most the difficult part for the traders is the trading psychology, learning how their emotions will be managed and yet, to have lots of patience is necessary for every good trader.

 

[Bonyi]

Indeed with those tips I think that the newbies would be able able to avoid losing a lot while they are still learning how to trade and while they are still trying to get some experience in trading. So I'm hoping that these tips would be taken seriously by new traders

You're very correct. With these tips newbies should be able to know how to go about their trading without hassles.

 

[Daisy]

I would also add that you should quiz yourself and make sure you learn the basics before you move on to a demo or else the learning in a demo is not useful at all cause you don't know why you do what you do. Knowledge is money so the more you know the more you earn. In forex, its a requirement that you know all about it. There is no way to make money if you have no idea why you trade, what you trade or when to trade. You can also formulate your short or long term strategies while doing a demo and then you can experience a live trading account in a mini account or cent account.

 

[seeker]

Yes, IQ matters a lot in Forex, either we believe it or not, it contributes to how fast we are able to learn and how fast we are able to trade thereafter. Sometimes, you see certain people and it looks as if they are more skillful than others who they started with.

It can be build for some who will feel and regard themselves like not having the IQ it is something that takes time to develop. More important is learning forex trading at all day that will enhance the beginners ability to learn fast.

 

[riddick09]

IQ is something like a common sense but not really meant that you will use it in Forex as a standard or measurement of being profitable. There are so much things to regard such as EQ that a trader must consider both IQ and EQ because, we know Forex business with the risk in it.

 

[Bonyi]

Indeed with those tips I think that the newbies would be able able to avoid losing a lot while they are still learning how to trade and while they are still trying to get some experience in trading. So I'm hoping that these tips would be taken seriously by new traders

Yes with these tips it will be difficult for new traders to loose. No not after they've put to work theses informative tips.

 

[Daisy]

I would also think that you can give places like Etoro a try since its a social trading network where you can chat with others and then ask questions and see their trades. It also allow you to connect to others and you can seek help from them but best of all you can also copy successful traders on there to make some money for yourself. I'm very interested in this. There are some that have over 96% successful trading record so I will want to pair up and copy them so I can make some money. I believe in copying pro trader.

 

[Decub]

It can be build for some who will feel and regard themselves like not having the IQ it is something that takes time to develop. More important is learning forex trading at all day that will enhance the beginners ability to learn fast.

Well, IQ can be built but not within the shortest possible time especially among adults. At a tender age, the child stand a better chance of having his IQ boost because the brain is still magnetic but for an adult and in cases where things as complex as Forex is involved, it can even lead to the trader forfeiting it. Also trading longer hours could make a trader who is still learning develop boredom and lose interest in it.

 

[Daisy]

As a newbie, you should go slow on your capital and keep your day time job as its hard to depend on forex as a newbie. After one year of trading, you might be able to do full time forex. However, its hard to trade full time when you need money to pay your bills and the trades just don't pay off. If you ended up losing more money you will be so sad over it. I think as a newbie you should also practice as much as possible so you can get better with each trade.