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Thread: Newbie success mindset.

  1. #1
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    Newbie success mindset.

    It is an obvious fact that newbies loss a lot and this could be seen as caused by the fact that they don't get the mindset right. As I would want to point out some important thing and process of learning for newbies which could help them improve and succeed with time.

    First is your MINDSET, if you are a newbie and you have the mindset that you would make a kill in forex trading in a short time, well, you are heading to experience the worst. How you program your mindset towards achieving your goals in forex trading will determine the end result. Therefore, a candid advice would be, to see it as a business, which you have to learn, build and then see the reward in years to come.

    Secondly is what you learn, well, there are a lot of things out there online, paid and free, some works and some don't work. Irrespective of how profitable it is been said to be, be wise enough to have it demo traded for at least 6-8 months before coming to conclusion if it is good or not, don't have the mindset of having a strategy start working for you shortly after you start using it.

    In conclusion, always see forex as a business which has to be learned, mastered and built and reward comes after some several months.

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  2. #11
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    You know I do agree with this , because you could see some that thinks they can make it big in forex trading in a short time, those comes into the business and they trade without even a good money and risk management, they end up losing their money all therefore blowing their trading account because the mindset of seeing forex as a huge lucrative business made them take so much risk as they trade.

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  3. #12
    Trader YoyO_o's Avatar
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    most of new traders have a very small percentage of success. that's because they are still lack of experience and knowledge, most of them are still trade without a good trading plan and there are still a lot of mistakes. but don't worry, with a good practice every day, all of us will get better in trading. profit will come automatically after we can make a good trading plan and lowest the risk in trading.

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  4. #13
    Trader famousfx's Avatar
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    As a new trader in the forex market most of our assumption or mindset is to cash in money all the day, but at the same time like the other business we do that are not online, shall we question ourselves, do we cash in money daily, so any time when there are issues to settle we need to accept, more so this business is so profitable with good mind set and patience

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  5. #14
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    Quote Originally Posted by famousfx View Post
    As a new trader in the forex market most of our assumption or mindset is to cash in money all the day, but at the same time like the other business we do that are not online, shall we question ourselves, do we cash in money daily, so any time when there are issues to settle we need to accept, more so this business is so profitable with good mind set and patience
    which has been the reason why a lot of traders has been in loses, of course it will be a good thing to make money from the market, but we have to make sure that we are making use of the good trading strategy and learning approach, because getting that precise goal needs a good mindset, such that should see the forex as a business and which will take some time to be profitable.

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  6. #15
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    This is most important thing in forex to set our mind that we can get success in this business. If we think we can do it and we can earn in this business and make effort to earn and beat this market. In this way we can get success in this business but if our mind is negative and we think that we never get money from this business then e never get success in this business. Our mindset is really important for success in this business.

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  7. #16
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    Our mind is always tell us what we need to do next in our trading. We need enter or not into a trade and what risk we can take into our every trade. when we are newbie in forex then our mind set is not work like forex market because this market is so sharp and we need a sharp mind and need knowledge and experience to best it which we cannot have when we are new in this business.

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  8. #17
    Trader Killer_Queen's Avatar
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    Quote Originally Posted by Ragnar View Post
    In conclusion, always see forex as a business which has to be learned, mastered and built and reward comes after some several months.
    when i was real beginners, i did not know about all of this good advice and i kept blind trading with all pairs in my trading platform without even knowing all of their characteristics first. trading without a single experience is like walking with closed eyes. we do not know where to go but blindly walk in dark if we force ourself without proper learning first. in the opposite, if we do what exactly most people advice, we will act better and safe from bigger losing.

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  9. #18
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    Quote Originally Posted by bulat View Post
    This is most important thing in forex to set our mind that we can get success in this business. If we think we can do it and we can earn in this business and make effort to earn and beat this market. In this way we can get success in this business but if our mind is negative and we think that we never get money from this business then e never get success in this business. Our mindset is really important for success in this business.
    This is true because the ability to control our emotions and mindset will really set a good trading condition for us. Because when you have not in mind to become rich all of a sudden you will try as much as possible to make sure that you build a strong strategy that will really see you to the success stage and profitable stage.

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  10. #19
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    This is so true because the mindset of a trader will determine how far they go. And when a trader thinks of luck is possible in the business they will have poor trading results. but having the right mindset and seeing this business as a pure business which can make us money if we have the good skills and money risk management we will succeed.

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  11. #20
    Trader Senorita's Avatar
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    It's a great dream for a newbie to see himself achieve success in forex in a very little time. Every newbie looks forward to gain properly for himself and it is this market that they look properly to hope on and earn success in this business. It's the mindset of a newbie to achieve success but they must not look to rush it but be patient to learn how far they can develop and make profitable trading which will give us better trading results.

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