HELP novice trader - Page 154
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Thread: HELP novice trader

  1. #1531
    I am surprised people could say that leverage is not important in forex trading , if leverage is removed from forex trading do think people like you and me we have enough to participate in this largest global financial market ? Those who belong to that school of thought need to go back to the basic for serious learning and change of mindset and orientation. The choice of leverage matters a lot in forex trading and the day I have decided to reduce my leverage to 1:200, things have really been working well with me in trading.

  2. #1532
    I think that every novice trader can try to make his own way for the trading by trying more than one strategy for making one comprehensive strategy that can be used fro many situations for the right trading . and also by following an effective approaches to be mixed together in a way shares in finding some solutions for the trading

  3. #1533
    Trader ara's Avatar
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    Dec 2013
    Quote Originally Posted by Abu George View Post
    I think that every novice trader can try to make his own way for the trading by trying more than one strategy for making one comprehensive strategy that can be used fro many situations for the right trading . and also by following an effective approaches to be mixed together in a way shares in finding some solutions for the trading
    I've different views, learning only one strategy will be more effective than learning more than one strategies especially for novice traders, they don't have much knowledge about the forex market, this will add complexity if they learn some market conditions and apply each strategy to the right market conditions.

  4. #1534
    Quote Originally Posted by chioma View Post
    To the newbies, just know it that perseverance is one thing that will be keeping your trade going. If you are good with learning and believing in your trading ability, my dear you will surely make it great in this business. Just try to be very observant of your trade, know what is happening in the market, before you can then jump into trading. Just trade wisely.
    Absolutely right , Learning and Practicing tirelessly later on will provide many benefits for any novice traders, especially in the analysis where analysis of any professional trader will not be able to avoid losses because however any best analysis definitely have at times made a mistake and it's a normal thing to happen because the movement of the market can not be predicted with 100% sure

    and again novice traders are strongly advised to use money management to be able to manage losses wisely so that Money Management remains important but the analysis itself is able to build a confident character of novice traders in training of skills.
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  5. #1535
    Today various virtual earning platforms have become well-developed where various freelancers can engage in earning methods. On the other hand, forex market is becoming or turning out as one of the reliable online platforms for the freelancer today. Any person who wants to earn money with flexible schedule can think of working in forex market. Even forex market is now exterminating scarcity of people by guarantying earning facilities on this international arena.

  6. #1536
    In Forex market generally the loss and profits are unlimited. People can earn unlimited amount of money or even can lose all the money. The traders should learn first in order to handle difficult situations. Without having the clear knowledge about how to control the critical situations a trader may never lead a successful Forex business. IF you want to become successful you have to learn each and everything important in Forex trading.

  7. #1537
    Forex trading offers outstanding profit opportunities that attract newbie traders while the ad campaigns held by brokers make them think that it is quite easy to become successful in trading. In fact, Forex trading is one of the most challenging and complicated ways to earn money. Novice traders have to study a lot before they would be able to earn sufficient sums of money.
    First of all they should start with trading basics. To be ably to make profit in long term perspective they need to be familiar with main concepts of technical and fundamental analysis (some of the traders focus on one type of the analysis, but they are both important). Nowadays it is quite easy to learn trading because there are numerous online education courses offered by the brokers or by various Forex trading gurus teaching their students to make trading desicions based on their strategies.
    It is also important for newcomers to trade on demo to obtain a set of skills necessary to be able to make profitable trades. As usual, trader should use demo account unless he would become consistently profitable trading with paper money. This approach would help him to reduce the risk of substantial financial loss.
    Newbie traders should also pay attention to psychological issues since they would have to deal with uncertainty and upredictable nature of the market. To my mind, psychology sometimes could be even more important than other skills.

  8. #1538
    Mr. All knows that 90% are losers and have no experience in Forex but what does the remaining 5% to reach the degree of professionalism and you will find that the answer is very simple, these patience to learn and trade in proper management until they reach the degree of professionalism and take a permanent place in the market.
    One of the most important things that made them professionals is their control of their feelings during trading and prudent and strict capital management.
    What is the use of the analysis that we master, but when trading we confuse the numbers we analyze with the sentiments during trading.
    For this we can know that the difference between the amateur trader and the professional is a slight difference not seen with the naked eye because it lies in the emotions the professional trader controls them in an excellent way and do not allow them to mix their cards but the amateur or the beginner forgets everything in front of the platform for this difference is the feelings to control only it is The fine thread between a professional trader and a beginner

  9. #1539
    By the way, one of the first things novice trader have to choose is a trading platform. Trading platform is a special tool used by the trader to communicate with the broker to submit orders and change them. There are a lot of platforms provided by various brokers so sometimes the choise of the particular platform is closely related to the choise of the broker. Sometimes broker offers its services through different platforms - in this case, you have a possibility to choose one to use. Actually, the most popular platforms are MT4 and its newer version MT5. They have quite simple interface so you can easily use them even if you have no previous experience in trading. MT5 has several avantages and imporvements, you can learn more about them in different comparisons. Anyway, the main principle of any platform is almost the same, the only thing that is different is user interface and, sometimes, a set of functions available. But if you are a newbie, you should not pay to much attention to the additional features since it would be enough for you to have a basic set.

  10. #1540
    One simple advice is to never let the emotions take over you. That's all I can say.

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