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Thread: An advice for new comers

  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. #2401
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    The best thing for a forex newbie is to follow the right process to learn. This newbie will realize that its not so easy in this market but they should never give up but put in good time to build a profitable system for themselves. Newcomers here should take the demo account seriously because this is such account that will bring about the right success with time. Newbies should take their time to learn and they should realize how to get better with the right development.

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  3. #2402
    Trader sniper007's Avatar
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    When I was new to the market, I always did had my mind mostly on the amount of money that I would make from the market. I think that affected me in such a negative way and I think that I will like to also get to advice the new traders that they shouldn't trade in such a way. Cherish learning more and with time, earnings will come.

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  4. #2403
    Trader juniorpeters's Avatar
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    indicator is a very good strategy to use and trade the market but when you don't learn from someone who is more experienced it becomes a problem for you and you will see it as useless.i thought the same thing but later on i found out that i have been missing out a lot of trades and now i can't trade the market or make analysis without using indicator to get that done.

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  5. #2404
    Trader Senorita's Avatar
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    Quote Originally Posted by sniper007 View Post
    When I was new to the market, I always did had my mind mostly on the amount of money that I would make from the market. I think that affected me in such a negative way and I think that I will like to also get to advice the new traders that they shouldn't trade in such a way. Cherish learning more and with time, earnings will come.
    When you engage yourself on the amount of money to be made. You will be easily blinded on putting effort to build a strong strategy that can help you to realize those targets. I think a newbie focus should not be about the money but to learn and understand how they can develop better in trading. Because of the much emphasis on earning big money, you find newbies cutting corners to make profits and this easily backfires.

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  6. #2405
    Trader Sixteen's Avatar
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    What happens to newbies who don't find it necessary to learn is huge loss. Here the need for newbies to manage their loss is very important and they should seek learning to develop their knowledge and possible experience that would help them to trade right. New comers must all see the chance to build what works and seek on the opportunity to realize their goals in forex. It won't be easy for a newbie and it will be good if a newbie can have a decide to manage risk and seek on the very opportunity to build a long lasting trade for themselves.

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  7. #2406
    Trader cutiekc's Avatar
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    Quote Originally Posted by Sixteen View Post
    What happens to newbies who don't find it necessary to learn is huge loss. Here the need for newbies to manage their loss is very important and they should seek learning to develop their knowledge and possible experience that would help them to trade right. New comers must all see the chance to build what works and seek on the opportunity to realize their goals in forex. It won't be easy for a newbie and it will be good if a newbie can have a decide to manage risk and seek on the very opportunity to build a long lasting trade for themselves.
    One of the common mistakes that the newbies also do is that once they have had some consistent wining for like two times, they get so over confident, therefore trading outiside of their trading plan and then making a whole lot of mistakes as well. I mean, this are things we should always get to avoid. The new traders should know that no matter what the result of their trade could be, they ought to always stick to the plan.

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  8. #2407
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    Before you can plan for your trading in live, you can practice your trading strategies on demo trading account. By judging or practicing some methods or approaches with demo trading account a foreign currency exchange trader can get proper understanding with the risk factors related with those approaches. After that he can try to hedge his position with the proper adoption and right utilization of risk management tools in real manner.

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