Hey Beginner, Come on Start Forex Trading business correctly - Page 2
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Thread: Hey Beginner, Come on Start Forex Trading business correctly

  1. #1
    Trader cowek ireng's Avatar
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    Hey Beginner, Come on Start Forex Trading business correctly

    Forex trading business is One of the a booming business types who are still relatively new among the business people online. This business comes first as an alternative investment option debutante stock, option, Future and so on. This business has slowly evolved into a business choice that if I may say is "ultimate choice". a business that goes with the futures contract trading scheme is growing because of the magnitude of return can be generated from here. many traders who began flocking to run this business. Unfortunately, 100% of the traders (according to some opinions) is only around ten percent could continue to run the business on a consistent basis and can generate revenue from it. as for the remaining ninety percent fall due to the experienced loss in the middle of the road. This phenomenon is pretty sad for a business that could potentially make us wealthy.

    So For you beginner trader Its need for attention to start Forex trading as correctly with :
    1. Learn about business that would you choose first

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    forex trading business is a business of buying and selling, or exchanging foreign currency between one currency with another currency of different countries. This business is run with the concept of trading futures contracts, where we will be bound to a contract with the broker as one organizer of forex trading
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    2. Always consider between the advantages and disadvantages the forex business

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    Forex trading business has a very high probability of being able to make us rich or poor. It is all as a result of the existence of these futures contracts trading system. There are a myriad of return but there are also a myriad of risk. on the other hand this business is a business that is valued most "practical" and most "liquid" so that we can choose this business for the long-term, even though there are still many "pros and cons" of the presence of this business.
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    3. Select an effective business strategy

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    With regard to higher risks that will confront us, then we need an effective strategies to be successful in this business. There are many trading system which we can read in this superb forum ranging from about trading system formula, trading psychology article, etc about the trading strategy. If we keep doing forex trading without any strategy, so it is just we plunge into the battlefield without any sort of weapon and protector, its so small possibility we win unless we are "lucky".
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    4. manage your finances well

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    This business is very concerned with our finances, so we need to be clever for administrating our finances. make sure we do not use the money from borrow, but use the money to "free" so we are also ready to lose not just ready to win.
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    with some of the items above, I think All beginner will be able to start this business properly. something that begins with the right, great chance to expire will be fun. Hopefully we can achieve success in this business,

    greeting traders
    Good Lucks

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  2. #11
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    Hukam,
    controlling emotion always become hot topic for every traders, newbies or experts, because this point always become the problem for all of us, need a time to know how to control and change it with the better one, need a serious attention for it,
    and the emotion always comes up in every situation, make sure that we are not under the emotion before decide something

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  3. #12
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    Well said dear yeah it is a real fact that forex business is getting popularity day by day new people are joining this business to get maximum profit. Now it is a considered as a full time business many of my friends are doing Forex trading as full time business and they are totally dependent on Forex trading they have no other source of earning only forex is a way of earning for them.

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  4. #13
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    Quote Originally Posted by newentry View Post
    Hukam,
    controlling emotion always become hot topic for every traders, newbies or experts, because this point always become the problem for all of us, need a time to know how to control and change it with the better one, need a serious attention for it,
    and the emotion always comes up in every situation, make sure that we are not under the emotion before decide something
    True mate, this is the most discussed topic, that a trader become emotional during trades and then face loses, sometimes revenge, sudden loses, greed and impatience cause loses, all of these things should be known by a trader and how to control it, this is the second step towards success.

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  5. #14
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    To start trading in the forex market is not the main thing, but to be careful in trading and doing trading very well. All the tarders working in this market know one thing or the other that are good for successful trading, but the habits they have in the market is the one that doe snot help them to do thing right. I think that psychology is what trader should check first.

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  6. #15
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    There are many things to check in forex but its very true that we have to start with basic things like we have to know about our trading niche, and have to make a good trading strategy for ourself and that's right that we have to do trade with a good mindset also. Forex trading is not only a limited business we have to learn about many things step by step

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  7. #16
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    It is a good advice for the beginners to know what they are doing, the market trading is never a hard thing, but one should be careful of the way they are working with it, most especially in the case that the trader is making good signal to work for himself. Things are not really in the manner of surety at the beginning, so forex traders should be extra careful.

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  8. #17
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    You're right I'm having a great hard time on dealing with my emotion.
    Basically you open a trade and you can't wait to close in more profit, and you then worry if the trade will retrace just like any other trade.
    You will then close it without any hesitate, but when times goes you just end up trading all in red.
    And that bring a possibly on risking more of your money.

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  9. #18
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    I think that we as beginners may give the most important to this money management and the risk management . this thought which give you the power to be a live for a long time inside the market , and it is more important than profit it self . fore as along we are in side the market we are willing to find more chances than those which came by chance

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  10. #19
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    yes. i am agree with it. every day a lot of new trader have been joining here and most of them are getting fail and leaving this trade forever. often it is said that about 90% new traders are getting fail in this trade. but i think, we can not blame the forex trade forex trade for it. because most of the new traders start their trades without having sufficient knowledge and experience.

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  11. #20
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    We need a lot of knowledge and trading experience to get success in forex its not very easy at all but its not impossible too. Yes for sure we all can become a good trader by learning properly and we can't blame this business for loosing our money there could be many reason behind our failure like less knowledge, less experience, bad discipline, wrong trading psychology etc

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