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The top 3 things newbie must know

I have my list of the top three things a newbie must know. You can add to the list as well. First, all newbie must have several months of demo trading cause without that you will fail for sure when you open a real account. Second open a real account with a well known, trusted, regulated broker that most traders use. Third, Always use low capital, low leverage, and sl as a newbie to prevent huge losses. What is your list?
 
Also, a newbie should have at the back of his mind that at that stage when he is still learning, earning big should be the last option. Building a working strategy should be paramount and no matter how little he makes, the most important thing to him should be that he was able to make some profit without copying anyone.
 
I have my list of the top three things a newbie must know. You can add to the list as well. First, all newbie must have several months of demo trading cause without that you will fail for sure when you open a real account. Second open a real account with a well known, trusted, regulated broker that most traders use. Third, Always use low capital, low leverage, and sl as a newbie to prevent huge losses. What is your list?

Am also agree with you.you just give some valuable points here thanks for the same and i think that Prevent the huge losses we should to prepare a technical chart and also calculate a solid analysis before the trade and its not only for newbie for all traders
 
Each newbie should know that:
1. There is no general place for Forex trading. Forex is realized through brokerage companies. So it is very important from the beginning to choose a reliable company.
2. He has an opportunity to trade with several times more volume than his actual deposit. Leverage gives such an opportunity and it's important to know that the lower the leverage is the less the risk will be.
3. Forex is not a roulette game when someone wins a lot and the rest ones lose because some principles lie in currency price fluctuations.
 
That it is a business of probabilities, you either win, or you lose. As a newbie, you even lose more than you gain and if you do not take time, you get discouraged. That patience is the key.
 
Also, a newbie should have at the back of his mind that at that stage when he is still learning, earning big should be the last option. Building a working strategy should be paramount and no matter how little he makes, the most important thing to him should be that he was able to make some profit without copying anyone.
I like to copy people on zulu and etoro so I'm not opposed to it as long as they're able to profit from it, there is nothing wrong with copying people. I mean some stay at home mom would love to be able to copy people from home. Also, trade during the best timing or open market timing will lead to more profit. Also avoid off market hours or slow market hours like Friday or at the end of the trading day.
 
I have my list of the top three things a newbie must know. You can add to the list as well. First, all newbie must have several months of demo trading cause without that you will fail for sure when you open a real account. Second open a real account with a well known, trusted, regulated broker that most traders use. Third, Always use low capital, low leverage, and sl as a newbie to prevent huge losses. What is your list?

Low capital? you want to earn big amount of money with it? nope, for me newbie should us normal amount of capital, what i mean here as normal is as low as $100.

Also for leverage i disagree with you, you want to use 1:30 leverage? or even don't use any leverage(1:1), for me the best leverage is 1:100 and 1:200. or if you join a broker that regulated by CFTC 1:50 is the best leverage you can got.

You also forget TP for newbie it is a must for them to set it aside from SL.
 
I have my list of the top three things a newbie must know. You can add to the list as well. First, all newbie must have several months of demo trading cause without that you will fail for sure when you open a real account. Second open a real account with a well known, trusted, regulated broker that most traders use. Third, Always use low capital, low leverage, and sl as a newbie to prevent huge losses. What is your list?

Thanks, good experiance for newbie. thanks for share, what you said is very useful.
 
Low capital? you want to earn big amount of money with it? nope, for me newbie should us normal amount of capital, what i mean here as normal is as low as $100.

Also for leverage i disagree with you, you want to use 1:30 leverage? or even don't use any leverage(1:1), for me the best leverage is 1:100 and 1:200. or if you join a broker that regulated by CFTC 1:50 is the best leverage you can got.

You also forget TP for newbie it is a must for them to set it aside from SL.

Take profit is so hard to use since you will not know as a newbie what is the best number to use and if they're in front of the computer, its better to just keep an eye on it and then exit at the best time when they feel like profit is decent. No need to use tp unless you're setting it and going to work or going out but tp is very hard to use for newbie. Sl is easy to set though. I mean capital that is not too high like using $500 or more per trade is not advisable for newbie since they have little control over the market and so $100 and below is ideal.
 
A newbie should initially do some research work in selecting a broker. This would go a long way in shaping his forex trading career. It is always better to select a 5-digit broker instead of a 4-digit broker. This is because, in the future, if the trader wishes to build EA, it would be quite easy. The second important thing would be opening a demo account with the selected broker. Practice should be done till a trader starts making consistent profit with low draw down. A firm strategy should be developed and put to test under all conditions. Only then should a beginner venture into live trading. These are must follow criteria as per professional traders.
 
newbie must know the value of different currency and he has to make a perfect policy for trading. along with that he must be prepared for difficulties.
 
Newbie must learn to control losses and money and those are important principles. Old but always a priority. I think in forex we must learn how to control our emotions, our money and our trades. We must keep up wit news at all time and we must not get hasty or greedy as those can cause us to lose. We must also use a very trusted brokers who allow fast liquidity as well.
 
Newbies must understand the need for risk management. It is always the pillar to remain in Forex when the issue of not losing much comes in. It should be a trader's watchword and at any point in trade, remember there is need for him to do so. Risk management come in varieties of ways and the most important is that he practices it to know more about it.
 
I'm sure that a newbie trader will have to know many things. When a newbie trader wants to make money in forex, he or she will read so many things about forex before trading and it is this time that he or she will learn how to manage his or her risks very well.
 
this is really the greatest advice i read it here specially getting training with demo account and trading with strong money management and please i beg your pardon to add one thing it is the trader must test the strategy which he will trade with it in his real account
 
I have my list of the top three things a newbie must know. You can add to the list as well. First, all newbie must have several months of demo trading cause without that you will fail for sure when you open a real account. Second open a real account with a well known, trusted, regulated broker that most traders use. Third, Always use low capital, low leverage, and sl as a newbie to prevent huge losses. What is your list?

Well, my 3 points are:

1) Learning fundamental & technical.
2) Proper money management knowledge.
3) Practicing until you are consistent enough.
 
I think these are some of the must for the newbie:
1. Proper knowledge in forex market
2. Money and Risk Management
3. Knowing how to control their emotions
 
Every newbie should make a good trading strategy to become successful in this risky market.
A strategy becomes successful when we use it correctly in the correct market. Not every strategy works for everyone. One has to do a lot of trail and error to find the right strategy for him. It requires a lot of study and research.
 
For successful trading one needs to be skilled in candlestick, technical analysis and trading psychology. You have develop skills to read the market. It takes time. Have patience and learn.
 
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