First steps of newbie traders - Page 15
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Thread: First steps of newbie traders

  1. #1
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    First steps of newbie traders

    Knowing Forex and our work Before starting any business a person should explore about its possibilities and the benefits and risk involved. It is not just Forex that is risky all business have this element called risk. So a good planning can help a person from a good start to a successful continuation. A trader should learn all the basics about the Forex market. Its earning potential and the risk involved. The losses possibilities should also be known with attention.


    Choosing the right Broker
    It is very important that a beginner should choose a right broker. if a beginner moves with a wrong broker then he can face so many failures in his beginning trading days that he will become victim of frustration and depression. Already our beginning trading is filled with hardships and hurdles and a bad broker can make it big failure. I and all my forum friends and all Roboforex traders are very lucky to find a great broker like Roboforex.



    The demo account
    We all know that demo account is very useful especially for the beginner traders. But some beginners think it boring and some think it waste of time. The main reason for this thinking is demo account cannot give a person real money earnings. But beginners should never forget that demo account can give them knowledge and make them familiar to this market. This knowledge saves traders from many losses and also help them in earning profits when they move towards real account.



    Having discipline and patience
    beginners run the risk of getting lured by the high earning potential in Forex. Most beginners face heavy losing because they work with the concept of fast and easy earning. Beginners should understand the importance of patiece and discipline and a good trading psychology.

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  2. #141
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    I think at first the new trade should learn the basic of forex trade and then continue their practice on the demo.after leraning the basic of forex then they can more learn about forex from various web site of forex forum and can collect various strategies and practice them on their demo at least 3 or 5 months before going to real account

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  3. #142
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    [lang=de]Wonderful suggestion and post for newbies. I am sure newbies will be able to acquire many knowledge and idea from this post. I personally liked that post a lot. Newbies often face many problem regarding trading. If they read all the posts of this forum and ask question then they won't have any kind of hesitation about forex market. This forum is perfect place for them to remove their fear and ignorance.[/lang]

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  4. #143
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    To turn into a Forex trader, you don't require anything more than an Internet association and a brilliant gadget. Regardless of whether you need to exchange from your office or from a bistro while on an extended get-away, you can do it. To add to that, Forex has low trading capital requirements compared to other money related markets and pursuing a trading platform doesn't take quite a while. What's more, in light of the fact that no one needs to risk their entire reserve funds immediately, least stores are commonly extremely low and you can begin contributing more as you addition experience and certainty.

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  5. #144
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    Good information. In general, I agree with it, but it is difficult for newvies to find a good broker.

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  6. #145
    Trader J_C_Anderson's Avatar
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    For sure, choosing a good broker is a quite difficult task, especially for newbie trader who lacks knowledge and understanding of financial markets. So, the best solution would be to try to find all information available about various brokers to anaylize it and make your own independent decision based on the most important aspects, such as trading feed an conditions or the list of instruments available. It would be also helpful to find detailed comparisons of trading platforms summarizing all necessary information in one place that makes all this process easier and faster. It is also important to check the feedbacks and reiews posted by real traders on various trading forums to find out about the issues faced by the traders working with that or those broker. So, if you are looking for the broker to work with, you should study carefully all the information available to be able to choose the most sutiable and reliable broker.

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