Tips for Beginners
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Thread: Tips for Beginners

  1. #1
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    Tips for Beginners

    Tips for Beginners


    1. You should know yourself well so you can learn your way of trading!

    There are a lot of different ways and methods of trading, you should choose the way that suits your character. If you are a patient person, for example, think of a short-term plan instead of a long-term plan, so you don't find yourself needing to close the deal before its time. If you are an active person and you usually wake up early, make sure you use a strategy that doesn't make you awake during the night hours. Fatigue may reduce your ability to make the right decisions. Think about yourself while thinking about your strategies – understanding your personality well will work for you in the long run.

    2. Find a suitable forex broker

    Find all brokers and look carefully at their services, speed of execution, trading platforms and everything they offer. Do a list of questions and start comparing brokers, that will make you feel confident in your decision. What are the pros and cons of each broker? What kind of platforms do they offer? Does the platform correspond to the trading method you chose? How's the customer service? Where is her main headquarters? These questions will help you find a forex broker that meets your trading needs.

    3. Continuity is the basis..

    There are two types of schools of thought in market analysis and forecasting future trends. Those who use technical analysis claim that the market is semi-consistent and has logic in its movements. Those who use basic analysis focus on the news rather than the market. In fact, there is no perfect way for traders to use both. But decide which methodology will be your basic way and stick to it and keep going.

    4. Take good care of the time frame!

    Most forex traders spend a lot of time looking at the charts of the forex market. There are many different types of graphs but they are all showing the same thing. It is important to draw attention to the time frame of the graph that you decide to use. The good rule to follow is to use a longer time trend analysis and a shorter time frame until you decide to enter and exit the market.

    5. The right decision is always based on the correct knowledge.

    To make sure you are making the right decisions, you need to calculate your winnings and losses from time to time. Take a look at your trading record.-How many deals do you have? How many lost deals? Then calculate the total amount traded in all your deals. This is a good idea especially if you are still at the beginning of a way to learn forex. Check all the Times your system has your login signals and write everything in a notebook! This will help you make valid decisions in the future.

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  2. #2
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    I must say that finding a suitable broker should be done after we have done good enough in the demo account( We don't need a specific good broker when demo trading). The looking for the good broker and having the enough amount to trade are the secondary thing that has to be done, the primary has to do with knowing the market and then knowing our selves and the method that suits us the more.

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  3. #3
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    you created best thread i like that for beginners traders should know all things of forex market hey should know about all knowledge of broker all basic things which should know to a new trader, also all ways of learning where from a trader will find learning is compulsory

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  4. #4
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    The beginner traders has to take time to learn, there is no fast process to being successful, you have got to learn, know that fast money all over with some sort of trading strategy is never possible, but a way of losing more, there is nothing that comes simple, so when we think of fast money making, know that we are setting the trap for us to loss.

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  5. #5
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    Quote Originally Posted by +greenpip View Post
    The beginner traders has to take time to learn, there is no fast process to being successful, you have got to learn, know that fast money all over with some sort of trading strategy is never possible, but a way of losing more, there is nothing that comes simple, so when we think of fast money making, know that we are setting the trap for us to loss.
    They should forget about looking for fast methods of making money, because that is what they are fond of doing, they want to make fast money, they lack the patient to actually take forex trading with serious mindset. The new traders should consult the traders who are more experienced than they are and learn the good trading methods from them that is how they can succeed.

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  6. #6
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    Nice post for newbie trader. I would like to request you to post any article on how to find a good broker to trade in.

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  7. #7
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    The opposite of learning is ignorance. When a foreign currency exchange trader wants to trade without acquiring proper trading knowledge can’t be able to ensure a comfortable trading life. Due to lack of ignorance a trader is not able to justify the prospects of all available trading options in front of him. A forex trader needs to gather trading skills before they start trading with their hard earned money to survive in this market.

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  8. #8
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    Quote Originally Posted by Buffon View Post
    Tips for Beginners


    1. You should know yourself well so you can learn your way of trading!

    There are a lot of different ways and methods of trading, you should choose the way that suits your character. If you are a patient person, for example, think of a short-term plan instead of a long-term plan, so you don't find yourself needing to close the deal before its time. If you are an active person and you usually wake up early, make sure you use a strategy that doesn't make you awake during the night hours. Fatigue may reduce your ability to make the right decisions. Think about yourself while thinking about your strategies – understanding your personality well will work for you in the long run.

    2. Find a suitable forex broker

    Find all brokers and look carefully at their services, speed of execution, trading platforms and everything they offer. Do a list of questions and start comparing brokers, that will make you feel confident in your decision. What are the pros and cons of each broker? What kind of platforms do they offer? Does the platform correspond to the trading method you chose? How's the customer service? Where is her main headquarters? These questions will help you find a forex broker that meets your trading needs.

    3. Continuity is the basis..

    There are two types of schools of thought in market analysis and forecasting future trends. Those who use technical analysis claim that the market is semi-consistent and has logic in its movements. Those who use basic analysis focus on the news rather than the market. In fact, there is no perfect way for traders to use both. But decide which methodology will be your basic way and stick to it and keep going.

    4. Take good care of the time frame!

    Most forex traders spend a lot of time looking at the charts of the forex market. There are many different types of graphs but they are all showing the same thing. It is important to draw attention to the time frame of the graph that you decide to use. The good rule to follow is to use a longer time trend analysis and a shorter time frame until you decide to enter and exit the market.

    5. The right decision is always based on the correct knowledge.

    To make sure you are making the right decisions, you need to calculate your winnings and losses from time to time. Take a look at your trading record.-How many deals do you have? How many lost deals? Then calculate the total amount traded in all your deals. This is a good idea especially if you are still at the beginning of a way to learn forex. Check all the Times your system has your login signals and write everything in a notebook! This will help you make valid decisions in the future.

    in my opinion, the main thing for beginners to do is learn the basics of forex first. The basics of forex are broad in scope, including knowledge, indicators, strategies, risk management and money management, trading plan and so on.
    then practice the strategies he learned gradually and repeatedly, can use a demo account or cent.
    after it feels quite new then choose a broker that matches the style or trading strategy.
    don't forget to make a trading plan and journal

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