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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. #511
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    Many traders lose their hard earn money into the forex market because they don't take the time to learn and get a good understanding about the forex market before trading, they just want to get rich over night that's why they fail in this trade, before trading forex as a newbie you need to take the time to learn from the demo account and get to understand this business perfectly well first.

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  3. #512
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    Being confident to ourself is the first thing we must concern right before anything. It is because no matter how good a strategy or analysis we have, if we do not feel good to do and implement it in the real trade, they will not work well and can not run their useful functions. We must believe that what we do is correct and sure things will run well when we combine our confidence with our good analysis, it will gives us satisfaction results. Try to learn simple things first, do not hesitate to ourself.

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  4. #513
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    every beginner who want to make in forex trading should follow this tip:
    1. get a tutor to lecture you on the basics
    2. practice with a demo account.
    3. join a forum like this to learn more
    4. gather more confident to start trading with and also have a plan ans strategy
    5. start trading with real account.

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  5. #514
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    Quote Originally Posted by SeutaAgi View Post
    every beginner who want to make in forex trading should follow this tip:
    1. get a tutor to lecture you on the basics
    2. practice with a demo account.
    3. join a forum like this to learn more
    4. gather more confident to start trading with and also have a plan ans strategy
    5. start trading with real account.
    Yes it amounts to saying learning well is important before you start trading here. Some new traders try to make it easy by trading with guesses or on luck. There is nothing as luck in forex, so forget that it exists. When you hope for success in Forex business, go with your knowledge and analysis and planning..

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  6. #515
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    The one thing one needs to do is to learn and master the business. Onces we are able to get that done then we can become a successful trader in the business. Newbies do spend time looking for the holy grail on how they can make money online

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  7. #516
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    Quote Originally Posted by Bhave4U View Post
    Yes it amounts to saying learning well is important before you start trading here. Some new traders try to make it easy by trading with guesses or on luck. There is nothing as luck in forex, so forget that it exists. When you hope for success in Forex business, go with your knowledge and analysis and planning..
    There is a long way to move for beginners. but the basic understanding must be very strong about the Forex market. The most important thing is beginners must not become greedy and try to earn huge money quickly with Forex. forex is a business place and here if i become greedy then i will make mistake which will be very bad for me.

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  8. #517
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    your four points are very essential for any new trader who will like to succeed in the forex business, but i do not think that there is anything called holy grail in forex business as far as i know, i am very much aware that there are so many good trading instruction and trading systems that looks good here for traders but there are so many imperfection in the market each time we enter into it that always prove that we are very far from having the perfect trading system.

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  9. #518
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    well the important tips i think that every new trader to adopt is:
    1. create a unique plan to trade with
    2. have a trading strategy
    3. do not trade more than one currency.
    4. use a fix cent account for trading.

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  10. #519
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    One of the things that you as a trader needs to know and understanding the business is one of the main thing here. So to the beginners, you should know that one of the tips you as a beginner should know or do is learning the business from scratch and also know how the business i really going about.

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  11. #520
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    [lang=ar]Very important tips for each tyro especially recent advice, which is (to get away from signal providers) this advice is very important. Actually among the reasons why the rolling exposure to loss in Forex is to rely on a third party who is not has no experience in Forex and wants to win from behind to provide signals.[/lang]

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