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If you are new trader

Discussion in 'General Trading Forum' started by LorrainMor, Mar 10, 2019.

  1. LorrainMor

    LorrainMor

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    If you are new trader, don’t try to play with big capital at the very beginning. It is not your time to play with risks. Rather you need to observe the market with trading in smaller lots and understand how you should behave to turn out as a successful trader here. It’s your dedication, skills, expertise and patience which in collaboration can help you to turn out as a winner but in some times.
     
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  3. Lee Mark

    Lee Mark

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    Very logical point; even if a new trader has outstanding performance in demo; till now he should consider small trading balance. Because; emotions plays an important in real trading.
     
  4. Nezami

    Nezami

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    Practically in order to our trading understanding we the traders choose our trading strategies. According to me , if you want to get maximal result by your trading strategy , first of all you have make sure the proper money management approach , otherwise that’s not possible at all to make profit at all with great consistency despite of most powerful analyzing trading strategy. so, it is more important to know how to manage money in Forex trading.
     
  5. The trader

    The trader

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    in order to me, newcomers shouldn’t focus on his winning trade percentage, he or she always have to emphasis to minimize risk and never trade with emotions.
     
  6. Fx Master

    Fx Master

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    to be a skilled trader is a big deal , but its a long term process to achieve this position , for that reason most of us lost motivation after passing sometimes, so it is more appropriate to keep patience.
     
  7. The trader

    The trader

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    Before large investments we generally open a demo account in a broker to see the performance how it works. But I have seen, after large investments brokers attitude changes sometimes that is not available in micro accounts.
     
  8. Fx Master

    Fx Master

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    as a new trader
    to be a skilled is a big deal , its a long term process to achieve this position , for that reason most of us lost motivation after passing sometimes, so it is more appropriate to keep patience.
     
  9. sininfinity

    sininfinity

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    A new trader will not be skilled and that's a fact. Reading and practicing a strategy from the internet does not make one skilled. Skill develops over time.
     
  10. lioneld

    lioneld

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    Yes and this is why; new traders should focus of learning instead of earning! In addition, they should have a long term plan on learning because, instant learning is not working here!
     
  11. Richards

    Richards

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    I also think that new traders should first learn how to trade properly and how to protect their capital from loss. All this requires time, but I think that it is time wisely spent as risks are very high on this market
     
  12. lioneld

    lioneld

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    Well; but I think we should build technical and fundamental trading skill to be a good performer! Focusing on the money earring is not a healthy practice!
     
  13. sininfinity

    sininfinity

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    Again agree with you. Money will come but first focus on bringing positive pips to the account consistently.
     
  14. lioneld

    lioneld

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    Thank you very much mate; we traders need to build up a positive habit in trading. Because, positive habits kill the germs of bad emotions!
     
  15. sininfinity

    sininfinity

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    I don't think emotions go away entirely but with training it will not come in the way of trading.
     
  16. Lee Mark

    Lee Mark

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    True; it’s our human nature! The point is; experience traders are able to make deal with the emotions in the proper way.
     
  17. sininfinity

    sininfinity

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    Agreed. They are smart enough not to let emotions get the best of themselves in trading and gets the best out from trading.
     
  18. Vernessh

    Vernessh

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    I also find that there are various emotions when trading forex. Although they are not welcomed at all, it is very hard to control them. This is something that each trader must learn by himself, unfortunately, there is no teacher or book who can do it for you
     
  19. Lee Mark

    Lee Mark

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    That’s the real challenge! As you said; it’s very easy to start with; but the reality is totally different; I think, new traders should start their learning process in a long term planning; because there is no shortcut way.
     
  20. The trader

    The trader

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    generally cent account is more appropriate for beginners level besides pre school level. but not for mature beginner.
     
  21. Andrew McCalam

    Andrew McCalam

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    as a newcomer most of the traders became loser for the same reason , i cant think Forex trading without SL.