Newbie success mindset.
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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. #2
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    the newbie needs to have a good mind to be able to take the right decision of trading, the trader of good mind will be able to analyze the market well and will be able to choose the proper positions of trading, and so this will make trading more effective and more profitable, the newbie should always try to be in fresh mind to trade successfully.

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  3. #3
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    Quote Originally Posted by Ragnar View Post
    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.
    You really made a whole lot of sense with this. Because most of the newbies comes into the market and they want to earn in fast process, thus they then engage in taking higher risk. Thus to make money from the market does not work that way. The mindset has to be right and forex should be seen as business and not as a gamble program to make accidental money.

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    Trader Batavia's Avatar
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    In the first for newbie should to know about risk and awareness is very important because some of newbie is thinking very easy to make money in forex and it's like a money machine and that mindset it's wrong, because if we want to make a good profit we have to a good skills and for getting a good skills have to learn much and have to have a much experience. So if want to success must to have experience.

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  5. #5
    Trader layigold's Avatar
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    Your mindset towards forex trading matters a lot because that is what influences you attitude and action in trading . Some people have the mindset of becoming a millionaire overnight through forex because that is the way see forex perhaps based on what they have read online or what they have been told by someone else. Forex must not be seen as means of getting rich quickly and to trade it profitably , there is need for acquisition of knowledge , skills and experience.

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    Quote Originally Posted by layigold View Post
    Your mindset towards forex trading matters a lot because that is what influences you attitude and action in trading . Some people have the mindset of becoming a millionaire overnight through forex because that is the way see forex perhaps based on what they have read online or what they have been told by someone else. Forex must not be seen as means of getting rich quickly and to trade it profitably , there is need for acquisition of knowledge , skills and experience.
    That is true, because when we come to the market with the wrong mindset of want to make fast amount of money then we will make mistakes and then loss our money. We need to have the right mindset, which will quite help project our mind on the right direction and make us see forex as real business and not gamble.

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  7. #7
    Trader Senorita's Avatar
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    Quote Originally Posted by Batavia View Post
    In the first for newbie should to know about risk and awareness is very important because some of newbie is thinking very easy to make money in forex and it's like a money machine and that mindset it's wrong, because if we want to make a good profit we have to a good skills and for getting a good skills have to learn much and have to have a much experience. So if want to success must to have experience.
    Where a lot if newbies get it all wrong is the ability to come into this business with the mindset of getting rich in a short time with forex. This is not a perfect means to make sharp money and I don't think that this is the best choice for us to earn in forex. While we put interest to learn in forex we should know how to improve and how to make great choice to develop well enough with forex.

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  8. #8
    Trader layigold's Avatar
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    Mindset could be termed as a set of assumptions, methods or notations held by someone that is so established which creates a powerful influence on your attitudes and approaches to some issues . Your mindset about forex trading is very important and that is what determines how you approach forex itself . What are the things you hold in mind about forex ? Your answer to this questions determines your approach towards trading and tells on your performance and results

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  9. #9
    Trader musiliu's Avatar
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    like most newbie, I also thought I would make a lot of money in a very short time from forex, I thought that within few months, I will be very successful, I even do regard those that have been trading for years without significant success as peoples who don't know what they are doing, I only realised that I am wrong when I am yet to achieve success after spending a year, so trading is not a get rich quick scheme, you will need to spend a lot of time learning

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    Always have realistic DREAMS!

  10. #10
    Trader layigold's Avatar
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    The newbie mindset for success is taking higher risk in order to make big money without thinking of the other side of their actions and that is why so many of them lose their accounts so fast . To be successful in forex trading , you do not need to take higher risks. It is better you keep the risk so low and target little profit that is very consistent than to be looking for a net breaking profit

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