Should newbie open a one month long term trade

[Lee Mark]

I see, maximum newbies follow scalping trading because it provides quick result! BY the way, if there have such an opportunity then no problem with long time trading style.

 

[Gerald Davydov]

Should newbie open a one month long term trade? Why and why not? I have opened such a trade before and I love how it increased my profit with the right pairs. Its very possible in a good economy or the right factors are there but it might even dip so low in one month too so not all is profitable in a one month trade. I don't think newbie have enough money to survive sl in one month and news might take them off the trade if they set sl too narrow. However, I don't think they know how to make money or have confidence enough to stay in one month or enough patience even. What do you think?

Yes they can open one month long trade. I fact I suggest newbies to do long term trading. Scalping and short term trading is harmful for newbie trading psychology. It makes them unrest. All day long they sit before trading terminal looking for entry. They do over trade for this habit. Watching charts is good but should be for learning purpose.

 

[Tom Latham]

Long time trading is not harmful; but don’t waste your full month only for a single trade! As a newbiew, you need to work on technical & fundamental analysis & overall; you need to build your trading system.

 

[Oscar Shumack]

Initially, you better off staying away from paid courses because paid courses are advanced in maximum of the cases and you can’t capture it.

 

[Eduardo Lucchese]

Losing money is a common phenomenon in Forex but don’t quit Forex for this reason because it’s all about foolishness. Use flourished tactics that protect you from losing over and over.

 

[Gito Dinev]

Technical analysis comes later. Because I believe fundamental analysis is the key point here!

 

[Nayek Pichai]

You should have big heart for forex trading because narrow-hearted people can’t survive in Forex for a very long time.

 

[Feticide]

Traders who are just starting out do not have to open a position for at least one month. On the other hand, if one absolutely needs to do it, then doing so will require a substantial amount of capital.

 

[BinarySumo]

No! New traders should avoid doing this, as they may not yet have the knowledge and experience to effectively manage the trade over such a long period of time. Additionally, the market can be very volatile and unpredictable, and holding a trade for a month or longer can increase the risk of significant losses.

 

[LouBega88]

It helps them stay on the line which is quite essential for earning profit. A good broker selection is highly necessary for traders.