Newbie should not trade full time

[Daisy]

I think newbie traders should stick to their job first to gain money for their daily living cost rather than waiting on trends for profit since its too hard for them and they might lose more than gain so they end up with no jobs and more losses so it becomes a major problems. I mean you work the entire day to make $100 and then lose it in 10 minutes is not fun. So, I think newbie should still practice in mini account for a couple of months and then risk more money.

 

[gkintl]

Full time trading should be done by only a trader who has at least one year of successful trading track record and surplus money to take care of three month expenses. Under such a scenario, a trader will be able to take decisions with balanced state of mind. This would more or less guarantee success in trading. Unless and otherwise a trader can meet the above mentioned criteria, taking trading on a full time basis would prove futile.

 

[Decub]

I think newbie traders should stick to their job first to gain money for their daily living cost rather than waiting on trends for profit since its too hard for them and they might lose more than gain so they end up with no jobs and more losses so it becomes a major problems. I mean you work the entire day to make $100 and then lose it in 10 minutes is not fun. So, I think newbie should still practice in mini account for a couple of months and then risk more money.

Well, there are categories of traders and not all traders are employed. As a matter of fact, some went into Forex because they couldn't find a job, rather than just staying idle and waiting, they had to look for something doing. Others as well are students who use it to earn partial income.

 

[Daisy]

Yes, some go into forex due to unemployment so its fine if they do trade full time but I'm just worry that as they get greedy and needy, they will open so many trades and get all impulsive and then lose so much more than what they want to gain and then take out a loan and then losing even more, just like how gamblers do it but at least they can post in forums for bonuses. I think its good opp for some students who do not have time to work as well.

 

[Decub]

Then that is where orientation comes in and what they had before even going into Forecast in the first place. Personally, I had to do a lot of consultation both online and offline before I finally decided I will start learning Forex because at a point, it seemed I was hearing different things from different angle with everyone explaining the business from how he sees it and not from a more generalized form and could really get one confused.

 

[sindarin]

I think newbie traders should stick to their job first to gain money for their daily living cost rather than waiting on trends for profit since its too hard for them and they might lose more than gain so they end up with no jobs and more losses so it becomes a major problems. I mean you work the entire day to make $100 and then lose it in 10 minutes is not fun. So, I think newbie should still practice in mini account for a couple of months and then risk more money.

What do you know about forex? all of your posts here only based on assumption only. Well, this business is a high risk business and not just a simple business so if you want eneter this business then accept the risk before you do that, if you want to lowering the risk simply never trade in forex or if you insist just become a part time trader.

 

[riddick09]

That's correct. It's not easy business because of the risk and yet, you will learn about that you will need many things such as your strategy and your investments. And regarding the newbie to trading in full time depends on their decisions because, not everyone will find time or prioritize this business.

 

[Cutiekc]

Yeah thats right. since a newbie is someone who have no much knowledge, they should not be a full time trader because they are likely to loss more than what they will earn, in the sense that. They ought to trade only when the market is volatile. When there are more obvious chances or making profits

 

[jackcm]

Full-time trading is not really recommended since trading like that is not effective.

Most investors don't have time to watch market on daily basis, so they plan for long-term (months or years) and will take profit after periods. Newbies should learn from them: less trading but more efficiently

 

[Daisy]

I think as a newbie they must have a job to back up their finances since they will not be able to make money right away and also thinking that they can depend on it is very dangerous. They should not trade full time. They should work and then learn how to make profit and make it a part time gig. If you sit there and depend your life on forex as a newbie you will only create a disaster for yourself when you see all is losing and many newbie do lose most of the time.

 

[Decub]

Full-time trading is not really recommended since trading like that is not effective.

Most investors don't have time to watch market on daily basis, so they plan for long-term (months or years) and will take profit after periods. Newbies should learn from them: less trading but more efficiently

Well true, there are tendencies one can easily develop boredom or find it stressful trading on a daily basis. Not only newbies but real traders alike. Having spaces between days of trade or even trading on days you feel fit an reasonably sound can make you perform at your prime than trading just because you feel there is much need to.

 

[riddick09]

I think that they will have decision if they will take full time trading or not. After all it's not the boredom we have here but it will be the time availability they have right now. And we can't really have full time all the times and need to realize it will be also in our trading strategy.

 

[budado]

Newbies must practice forex trading. It does not matter what is your strategy if you are a newbies. But I really do advice that newbies trade long term strategy first before trying to trade short term. Since short term need more trading skills as the risk is higher if you try short term strategy.

 

[gkintl]

I think that they will have decision if they will take full time trading or not. After all it's not the boredom we have here but it will be the time availability they have right now. And we can't really have full time all the times and need to realize it will be also in our trading strategy.

The decision to take trading on a part or full time basis is solely dependent on our past performance and the surplus money we have. Before taking trading on a full time basis, a trader should have surplus capital to meet at least four months expenses. Apart from this, the trader should have at least 6 months track history of profit. Only when a trader meets those two criteria, trading should be taken on a full time basis. If not, it will only result in stress and wipe down of account.

 

[Daisy]

If a newbie have problems making profit then trading full time will lead to full time loss so therefore part time trading will lead to part time losses and some part time gaining experiences. They must focus on keeping a job so that they can continue to gain more experiences while they still have a source of income. I mean things can get out of hand if you sit there and wait for profit when you can't make it as a newbie. Tell me how many newbie can depend entirely on forex to pay all of their bills. It will also depend on where they live. If you live in the West, like the US or UK, you will be bankrupt if you don't work and sit at home and wait for forex but that is not true in the East where some have little bills.

 

[Pettyeve]

I feel that a newbie should even trade more often. This will help him in no small measure to learn more and more. This type of trading is best done with the demo account which is the best place for a newbie to develop his skills.

 

[Decub]

If a newbie have problems making profit then trading full time will lead to full time loss so therefore part time trading will lead to part time losses and some part time gaining experiences. They must focus on keeping a job so that they can continue to gain more experiences while they still have a source of income. I mean things can get out of hand if you sit there and wait for profit when you can't make it as a newbie. Tell me how many newbie can depend entirely on forex to pay all of their bills. It will also depend on where they live. If you live in the West, like the US or UK, you will be bankrupt if you don't work and sit at home and wait for forex but that is not true in the East where some have little bills.

A newbie who experiences difficulty in making profits will only have no other option rather than to trade more in the demo account. He is not doing himself a favour by remaining or trying out in the real account all in a bid to make some profits because it definitely is not worth the task.

 

[Pettyeve]

But we can still note here that trading everyday does not mean earning every day. Someone may be trading on a daily basis and be losing on a daily basis too. What should matter more is learning.

 

[Daisy]

But we can still note here that trading everyday does not mean earning every day. Someone may be trading on a daily basis and be losing on a daily basis too. What should matter more is learning.

That is right. Trading daily doesn't mean earning daily. And more so a negative effect for newbie. Newbie who has less than one year of experiences can't depend on forex alone. They must couple it with a steady job and doing any kind of work is better than sitting at home and praying on the trends. I think I enjoy my job sometimes more than trading.

 

[amit.neogi]

I think newbie traders should stick to their job first to gain money for their daily living cost rather than waiting on trends for profit since its too hard for them and they might lose more than gain so they end up with no jobs and more losses so it becomes a major problems. I mean you work the entire day to make $100 and then lose it in 10 minutes is not fun. So, I think newbie should still practice in mini account for a couple of months and then risk more money.

Yes you are absolutely right in your view as a beginer we should invest a small amount and work with in a mini account and beside it we should learn about it properly and gather the knowledge about it when you well aware about it then you can play with more capital as you can .