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Thread: Important tips for beginners (This could be your holy grail)

  1. #1
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    Important tips for beginners (This could be your holy grail)

    We all were once a beginner in the business, as I have experienced a lot, I think it will help others. Please follow this tips and thank me later.

    1. Quit looking for the perfect strategy, or the one that will make you fast money.: There is nothing like a perfect strategy. You will spend lots of time searching, that way wasting time, instead have that time been used on mastering a particular strategy.

    2. Avoid learning from different source, mostly when the source are talking about different trading strategies: learning from two different people who makes use of different strategy will get you confused and make you make lots of mistakes. That way, have just one mentor and one strategy, get to know it more better. Just like Bruce Lee said and I quote
    I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.
    This means that it becomes more effective when you mater just one trading strategy and knows it better.

    3. Avoid trying to know what your friends who are forex traders are making. Most times, when your friends are making more and you are still losing, that may fuel some spirit of competition in your, thereby making you make mistakes and even deviate from your goals and plans. That way, have in mind that forex is not a race.

    The last but not the least!!

    4. Endeavor to stay away from signal providers. I believe we are into forex because we would want to make money on the long run, that way the best way to start is to be able to believe in our selves, that way following our analysis because it is made based on the strategy we use, when you loss you learn and get better. Don't follow signals blindly, unless you are into forex just for some short term money making.

    Success trading!!!!!!!!!!!!!

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  2. #21
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    There are so many tips which have been provided to the newbie traders, the thing that I think they need the more is to apply all those tips. better still they can select a few which they can do and apply it when trading, that is how they can succeed. In addition while applying it, it could be not giving the expected result, but then we need to keep on trying and ensure to correct the mistakes so that we can get the good results.

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  3. #22
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    Above all what you have said, I think what really captured my sight is the fact that nothing is perfect in the market, this always means that the market is based on probability, and the trader has to plan ahead of his trading. This is why it is good for traders to have a strong trading strategy, then have a good managerial ways with it. They should also have a good plans and have a discipline in action as well.

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  4. #23
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    From my side some important tips for new trader is that do not use big lot when you start tared.Keep your mind cool.Try to understand the movement of the market .Do nor greed much keep your mind under control and also keep running to learn about this market.

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  5. #24
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    Quote Originally Posted by cozard007 View Post
    Above all what you have said, I think what really captured my sight is the fact that nothing is perfect in the market, this always means that the market is based on probability, and the trader has to plan ahead of his trading. This is why it is good for traders to have a strong trading strategy, then have a good managerial ways with it. They should also have a good plans and have a discipline in action as well.
    Well, everything in this business have their own flaws after all. We just can't think like anything will work out in here. There are a lot of people that might think the same thing as well but if you want to safely earns in this business then you need to always trade with safety. Sometimes, your best strategy to earn money might just backfire again at you so becareful.

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    Quote Originally Posted by sekiryutei View Post
    Well, everything in this business have their own flaws after all. We just can't think like anything will work out in here. There are a lot of people that might think the same thing as well but if you want to safely earns in this business then you need to always trade with safety. Sometimes, your best strategy to earn money might just backfire again at you so becareful.
    That's why the control of emotion is very essential. Your view is good about the strategy and there is a possibility of backfire always because there is no holy grail in forex. Many time we could be wrong about the analysis or our strategy can also give us loss some time. In this case we need a good use of money management and risk management. Management play a very crucial role in our safety trading.

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  7. #26
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    Quote Originally Posted by sharegistFX View Post
    I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.
    yes to avoid the same on similar used with the failure and mistakes of the past terms and using of those to refer of the better decision on working with the manage as initializing use of choice with the options on referring the finale of order to work with the submission with the market.

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  8. #27
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    Quote Originally Posted by Earnperfect View Post
    That's why the control of emotion is very essential. Your view is good about the strategy and there is a possibility of backfire always because there is no holy grail in forex. Many time we could be wrong about the analysis or our strategy can also give us loss some time. In this case we need a good use of money management and risk management. Management play a very crucial role in our safety trading.
    There is no holy grail in forex, this is surely a business, so, there would be challenges of trading and some psychological factors with the trader. And with the right trading approach, the trader would surely be vindicated and overcome. All that matters is good trading system and good ways to control oneself in the market. Forex traders should be using the right risk/money management as you have said too.

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  9. #28
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    I would like to suggest all the newbies that they should get the knowledge and vast demo trading experience about forex trading and then should start the real trading, it is because that forex is risky and tough business and learning and experience is the key for getting success in this business.

    So all the newbies should get the knowledge about trading from all the source and should work at least two months on demo account in order to get the experience, so follow these tips in order to become the perfect trader.

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  10. #29
    Registered user lawners1791's Avatar
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    Quote Originally Posted by sharegistFX View Post
    I believe we are into forex because we would want to make money on the long run, that way the best way to start is to be able to believe in our selves
    yes to work of the personal decision as running of system with the choice of selection as focusing of more with the manage on monitoring to improves of the higher relatives on ratio to close with the positive number on pips to collects and preparing the further to enter the new plan.

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  11. #30
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    I think that the best thing for the beginners to be able to read the news and be able to think of teh details about saying any thing of the trading tools . so all of the things we have is to find the detailed bout the market things for making the best decisions in the trading following the news very good enable the beginners of alot of things .

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