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  1. #1
    Trader jamey's Avatar
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    An advice for new comers

    When I was new trader, just came in forex market. I thought that, indicator can bring profit for me. I search many kind of indicators and use them but no indicator gave me profit. I just waste my two years for find a better indicator but finally I realize that indicator is nothing. Then I start learn price action from many websites and trade in a naked chart. I advice all new comer trader, don't waste your time for finding colorful indicators. Learn price action from first.

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  2. #11
    Trader techboy's Avatar
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    Quote Originally Posted by splash View Post
    I so much agree with this, newbies should ensure learning some good trading approach and price action is the best to me, but then before they can make good money from forex trading they ought to be patient, thus after learning price action, they could as well make use of any good indicator, in as much as they have accepted loss and know that there is no holy grail and no fast way of making money.,
    Most newbies really rush their way to trade in this market without the proper training and preparation, most of them think that its an easy way to make money from trading, but its the opposite happen because they dont possess the necessary skills to make good trading strategy, for newbies it is very important to learn everything first about the basics of the market and then try in demo for a few months until you are already comfortable to trade in real account.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  3. #12
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    Quote Originally Posted by techboy View Post
    Most newbies really rush their way to trade in this market without the proper training and preparation, most of them think that its an easy way to make money from trading, but its the opposite happen because they dont possess the necessary skills to make good trading strategy, for newbies it is very important to learn everything first about the basics of the market and then try in demo for a few months until you are already comfortable to trade in real account.
    when the newbie rush in , they will rush out back, this is the rule of trading. there is nothing wrong in making your learning before making your trading. they need to build their trading strategy when doing their learning, this can be used for the demo practices until they are satisfied with the money they make.

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  4. #13
    Trader techboy's Avatar
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    Quote Originally Posted by silverlady View Post
    when the newbie rush in , they will rush out back, this is the rule of trading. there is nothing wrong in making your learning before making your trading. they need to build their trading strategy when doing their learning, this can be used for the demo practices until they are satisfied with the money they make.
    True, building a good and reliable strategy is a must for every trader, practice it in demo account for a while before testing in real market conditions, but most newbies in this market never ever attempt to find or create a good strategy, most of them just open a real trading account and try trading right away without the necessary preparation.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  5. #14
    Trader azrifx's Avatar
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    for new trader, no rush in making profit in forex market. gain your knowledge about forex market, find your own strategies and keep practising with demo account untul you ready to risk your money in real account. forex is not easy but can be profitable if your knew the right way to make it. there is no such quick money in this business, be patient and take your time to study the risk.

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  6. #15
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    Quote Originally Posted by azrifx View Post
    for new trader, no rush in making profit in forex market. gain your knowledge about forex market, find your own strategies and keep practising with demo account untul you ready to risk your money in real account.
    I think we share the same view on how the business should be done and that the newbie traders has to learn the business through the demo account, that is the best tips and advise, any trader that would want to succeed on the business should start with the demo account practice and learn his or her ways around the market.

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  7. #16
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    Quote Originally Posted by jamey View Post
    When I was new trader, just came in forex market. I thought that, indicator can bring profit for me. I search many kind of indicators and use them but no indicator gave me profit. I just waste my two years for find a better indicator but finally I realize that indicator is nothing. Then I start learn price action from many websites and trade in a naked chart. I advice all new comer trader, don't waste your time for finding colorful indicators. Learn price action from first.
    Few months ago we had a contest here in this forum on trading indicators. Luckily I was one of the contestant and found relatively good results with indicator. Even with the help of that indicator I tried an EA too. So I don't totally believe indicators are nothing so as the EA's. Of course price action is one of the better way to analyze market. But in recent weeks we have seen price actions didn't hold good to bring good results. Actually we can be successful if we give ourselves some times to learn it well and keep our patience in trading. And I think it is the best advice for a newcomer.

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  8. #17
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    Quote Originally Posted by nkhan2810 View Post
    Few months ago we had a contest here in this forum on trading indicators. Luckily I was one of the contestant and found relatively good results with indicator. Even with the help of that indicator I tried an EA too. So I don't totally believe indicators are nothing so as the EA's. Of course price action is one of the better way to analyze market. But in recent weeks we have seen price actions didn't hold good to bring good results. Actually we can be successful if we give ourselves some times to learn it well and keep our patience in trading. And I think it is the best advice for a newcomer.
    I understand you alot about what you have said, to me the candles haven't been giving to me good trading signals, but then something that I am sure about is that I love the price action so much, I trade support and resistance breakout and since I also see forex trading as other business, I am quite okay not having any trades opened for a week or more. Because I know better opportunity will come forward.

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  9. #18
    Trader siham.msd's Avatar
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    If we adopt this thing then we get maximum profit. Forex trading important tips are A lot is small , invest small capital, good planning, best strategy, passion, use of right indicator’s, basic’s of forex is must needed to sustain your self to long term in forex trading and get more profit.

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  10. #19
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    Quote Originally Posted by siham.msd View Post
    If we adopt this thing then we get maximum profit. Forex trading important tips are A lot is small , invest small capital, good planning, best strategy, passion, use of right indicator’s, basic’s of forex is must needed to sustain your self to long term in forex trading and get more profit.
    You are spot on, but then to add more to that, hope your definition for best strategy is not that strategy that makes 100 percent profits, because there is non trading strategy and also you did not add money management. It is important and without money management there is no way any trading strategy will be able to work that fine in forex trading.

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  11. #20
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    Quote Originally Posted by splash View Post
    You are spot on, but then to add more to that, hope your definition for best strategy is not that strategy that makes 100 percent profits, because there is non trading strategy and also you did not add money management. It is important and without money management there is no way any trading strategy will be able to work that fine in forex trading.
    i do not think so, the best strategy might work best for traders, not giving the 100 percent that is not possible in trading of forex. the addition of the management and other useful working skills of trader will increase the chance of the strategy they are using, and nothing can be too simple to make money.

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