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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. #21
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    Knowledge is the main thing that we all need in forex trading market so its very clear that all newbies have to learn well and wisely since their starting, they can utilize their demo trading and their knowledge wisely and can create a good trading system for them there. They have to start the real trading only if they good confidence and experience about this market. Playing game is not recommended for newbie in forex.

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  3. #22
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    All this steps are very good one, the new trader has to observe them one by one. Also, the demo trading is a very crucial one when the trader has to consider a stable way of trading, this is what would really help them to build the expertise in the market, they should never take it with levity. Also, the choosing of the broker is challenging for many traders, some are not so lucky in that adventure.

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  4. #23
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    Quote Originally Posted by cozard007 View Post
    All this steps are very good one, the new trader has to observe them one by one. Also, the demo trading is a very crucial one when the trader has to consider a stable way of trading, this is what would really help them to build the expertise in the market, they should never take it with levity. Also, the choosing of the broker is challenging for many traders, some are not so lucky in that adventure.
    [lang=id]there are some steps that should be understood by the traders and especially the newbies, they need to take it from the first step and master them with well, and also try to make them as the habit, good habit that will keep them always on the tracks, and always try to implement them at their practicing and trading[/lang]

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  5. #24
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    First steps for this business traders need lot of study and hardworking and practicing demo account seriously,forex is a risky platform without study about trading forex success never be possible us,a good study helps traders to make perfect for this business,so new comer need lot of practice about this business.

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  6. #25
    Trader lawners1791's Avatar
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    the decision to work of the customs of risks level on manage with the plan those had in basics of the commons as trader having of ideal preference on possessing technical competencies on referring chance on committing with the decision on running of distinct with the plan as targeting returns with the consequence.

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  7. #26
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    Knowing the basics should be the step any trader that wants to be a successful trader has to follow. Then the next should be knowing how to make good use of his trading strategy, it matters much to start from the basic due to when we actually start there, thus you would get to understand your trading strategy more in details.

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  8. #27
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    Quote Originally Posted by Gourab5000 View Post
    First steps for this business traders need lot of study and hardworking and practicing demo account seriously,forex is a risky platform without study about trading forex success never be possible us,a good study helps traders to make perfect for this business,so new comer need lot of practice about this business.
    [lang=id]yes, these are the commons steps that should be taken and followed by the new traders, but almost of them forgot to learn how to control the emotion from the beginning, how to support the effort with good commitment and also how to prepare themselves with the strong mental, here are some points that should be brought at the same time from the first step. i knew about it from my experiences that i was wrong from the beginning, if i knew about this before, so i can save my time to work at forex trading business, and now , i still struggle to fix everything for better trading[/lang]

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  9. #28
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    Quote Originally Posted by samprazaan View Post
    [lang=id]there are some steps that should be understood by the traders and especially the newbies, they need to take it from the first step and master them with well, and also try to make them as the habit, good habit that will keep them always on the tracks, and always try to implement them at their practicing and trading[/lang]
    Yes we all need good habits use in our trading but for a newbie its very important to do that because most of time he or she ignore those habits. They are very excited about this business all the time and they want to try a lot of things in starting. The temptation of money also force them to do trade with very high risk trading. I have rarely seen that newbies are learning step by step in forex, most of them put themselves in danger due to greed, emotion etc.

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  10. #29
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    Quote Originally Posted by Abhishekwala View Post
    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.
    yes good broker should had with the details on offers for the beginner trader to work along with the customs as having with the personal preference on competing challenge to run of the application of system and strategy to gains with the decision on entering market of the fx business plan of the finance.

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  11. #30
    Trader Hukam's Avatar
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    Quote Originally Posted by Gourab5000 View Post
    First steps for this business traders need lot of study and hardworking and practicing demo account seriously,forex is a risky platform without study about trading forex success never be possible us,a good study helps traders to make perfect for this business,so new comer need lot of practice about this business.
    Oh yeah that's one of the basic rule of this market, thread creator have explained it in a very simple way with four steps first of all you have to read about the forex theory from there you can get the basic idea about it, then you have to choose a good broker in next step and you can go with robo forex broker, the third step will be to follow demo learning, and in fourth step you have to learn with proper discipline there, its a very large process but these four steps are enough for a newbie.

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