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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. #11
    Trader lawners1791's Avatar
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    Quote Originally Posted by Abhishekwala View Post
    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
    those helps as trader works with the different options with the choice of system to run with the trading along on occupying use with the customs of personal profile with the basics on ideal preference to refer ones with the decision on expanding the use on rules with the strategics on predefined of terms.

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  3. #12
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    New traders should always been and be a good in trading,when we have to trade the same working principles are all known to understand that when we trade forex gains a lot of good market and be sure that when we trade forex we make good intentions of ruining the best global trading circles and these are what make us tinkle and make it better working chances.

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  4. #13
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    Quote Originally Posted by Kariuki View Post
    New traders should always been and be a good in trading,when we have to trade the same working principles are all known to understand that when we trade forex gains a lot of good market and be sure that when we trade forex we make good intentions of ruining the best global trading circles and these are what make us tinkle and make it better working chances.
    they need to get more experiences and this is the way to prepare themselves before make money with money, and so why they need to invest the time as the firsrt thing that should be done to get the understanding about this business, demo account and then real account are the steps for them

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  5. #14
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    Before any newbies should worry about making use of so many trading strategy, just know that it would be better that you make use of your own trading strategy and avoid jumping from one strategy to the other one.

    Newbies should know that forex trading is a business that will become easier with time, therefore to succeed in such a business they really need to be more experienced.

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  6. #15
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    Quote Originally Posted by splash View Post
    Before any newbies should worry about making use of so many trading strategy, just know that it would be better that you make use of your own trading strategy and avoid jumping from one strategy to the other one.

    Newbies should know that forex trading is a business that will become easier with time, therefore to succeed in such a business they really need to be more experienced.
    [lang=id]newbies need to get the correct understanding about this business from the first time, this is very important to noted by them that forex trading is full of skill and not enough with just bring dreams and big ambitions only,
    because, many people came to this business thought that forex was the faster way for making money[/lang]

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  7. #16
    Trader dkarev's Avatar
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    the first step for any trader is to dedicate time to learning and this is the most important time of any trader carrier if we can be dedicated to learning then we stand to chance to earn from the market because forex is based on knowledge and understanding before any trader can earn in this business and this is why the best thing any newbies can do is to spend time to learning how the market work.

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  8. #17
    Trader lawners1791's Avatar
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    the better preparedness on entering with the proper on plan as those ad with the derails on limit as expending use of risks and resources that those to gives of chance to complete with the constant of times as moving of higher shifts to manage the better plan with the chance on delivering the better results on consequence.

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  9. #18
    Trader jamey's Avatar
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    New trader should just learning. Most of the new trader think that they will earn huge money after join forex market but after join they can understand the forex market is so hard place for survive. So they should trade in demo account at first at least for six months with one good strategy. They should keep their trading history for see own achievement. When they can understand they should go to real trade, they may go. Don't run behind the money, just become expert trader and money will run behind you.

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  10. #19
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    first step for newbies is getting knowledge, after getting knowledge we can practice , so I think the most first step is knowledge, if we have good knowledge then can understand the tools and can understand all market movement, so I think first get knowledge then practice on the base of knowledge, after this more and more practice makes a trader perfect here

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  11. #20
    Trader cutiekc's Avatar
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    One good advice to issue out to the newbie traders is that they should ensure learning, you see, it is the best way to succeed in forex trading business. So mnay have done the business and they gave up. The reason is nothing but that they never took it serious, they were so in a hurry to start taking in money even when it is obvious that they have not knowledge or trading skills to back them up.

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