First steps of newbie traders
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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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    Newbies should mainly learn to make good strategies and work according to them. It may take time to have a good working strategy. I change my strategy several times, and if the strategy didn't make a good profit in my trades I will always developed new strategy but once the strategy are making good profit I still try to improved it as time pass by.

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  3. #3
    Trader rinaji's Avatar
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    Knowing forex and our work, choose a good broker, taking a demo account for the practice, having discipline and patience. Yes all of that is the first step to do by the new traders. Peoples should make it seriously, they should prepare it before start to learn and trade. But I just see most of peoples don't have this good prepare. Why? Because they don't have alot of knowledges on don't know hoe and where to start? Maybe it will be diffetent for those who start this business with the help of the goof mentor or teacher.

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    Registered user Quid's Avatar
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    Choose the right broker is better if the traders want to make profit and have a little market plan there is place too for trading and making profit in market.Forex has many chances if the traders then make their decision to trade in low spread broker or high spread broker they should have compromised them.Traders can not trade and wait on the market until the traders know their trading methodology is right or not with low spreas broker.

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  5. #5
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    Quote Originally Posted by Abhishekwala View Post
    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.
    Many informations are spread out in the internet. The newbie in forex trading can choose the wrong information about the forex trading. I notice that in internet, many article and forum and also the facebook saying the bad about forex trading. Many people in the internet said that forex trading is just gambling in getting money.

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  6. #6
    Trader lawners1791's Avatar
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    Quote Originally Posted by Abhishekwala View Post
    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.
    yes the demo works on helping trader to gains of the better on confidence with the return of confirmation as working with the choice of selection with the trading system and strategy to run with the manage. to work of the further to enter of the real risks of trading plan with the future.

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  7. #7
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    From my best of knowledge, the first step is learning, there is the demo account but before you could make use of the demo account, I think you will need to have some basic knowledge and learn on how you can trade adequately before you can make money in forex trading. Newbies I must tell them they should not be so eager to start making money from forex trading.

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  8. #8
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    Quote Originally Posted by Abhishekwala View Post
    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.
    Well said a newbie trader already have hard time finding success in Forex trading. And if he is stuck with a bad broker then there are very high chances of him getting big losses. We are all luck to find a great broker like Roboforex which makes every efforts to ensure that its traders get the best quality of services in the industry. It also runs so many campaigns and spends so much money to educate its traders and help them to enhance their trading skills and have better trading performance.

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  9. #9
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    I want o get more emphasize on choosing the suitable broker to work with . i think that if we have a good ratio of success in the trading and making good profits but with bad broker we do and get no thing of course so the broker propaganda is essential to us to begin with . also having a good experience in the trading .

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  10. #10
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    yes these are the very basic steps for a new trader which he should follow so he can can successful in this business .. nd a new trader should get benefited from such threads because they are really informative..

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