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Your Best Tip to Forex Newbie


omar.elalfy

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In most cases SL is good but not in few cases. Have you ever feel that when the price is reaching your SL or even pass it more and then few minutes later the price is tend to turn back and even reach the point where your TP was? That happening to me few times. Well to reach TP back requires few hours or even 24 hours but this reversal is what makes me rethink about SL once again.

Indeed stop loss is like as dilemma for trader, which sometime after price hit stop loss but eventually price move back to early track and might hit target profit, but without stop loss also will worried if the trend against order hence floating loss will more higher, in my opinion with stop loss we will learn how to determine best place to put order according risk management

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Just remember forex trading is not a "get-rich-fast" program. It is hugely painstaking and requires patience as well as judgement. I think a newbie has to be a little meticulous when dealing with actual trading, or you may run the risk of losing all the money in your account. 

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Ive been thinking about give forex trading a shot. If I understand this right its bying and selling valuta. And then hopefully bying when its cheap and sell when its a gain. But the demo accounts where can we find them? They are for free? When I do the google on demo accounts the ones I get is for a month free then you need start paying and I would love to have more time to learn before I start it off.

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Ive been thinking about give forex trading a shot. If I understand this right its bying and selling valuta. And then hopefully bying when its cheap and sell when its a gain. But the demo accounts where can we find them? They are for free? When I do the google on demo accounts the ones I get is for a month free then you need start paying and I would love to have more time to learn before I start it off.

Most of brokers' demo accounts are free, you just need to register to them and make demo account to train your trading skills. Nowadays, it's a simulation account where you can do trading forex on demo account that based on real quotations.

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@levie: Your visualization of how to make profit in forex is totally right, and demo account is free if you ever trade before you should know about it, it is easy to get and as easy as when you create an email account, you can even create more than one account in demo account. If a broker ask you for payment then that broker is not.

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Most of brokers' demo accounts are free, you just need to register to them and make demo account to train your trading skills. Nowadays, it's a simulation account where you can do trading forex on demo account that based on real quotations.

Yes indeed demo account  is free, almost broker offer demo account to test skill trading, and as trader they must install platform to start practice in demo account, and also they can register account demo from mt4 platform with following instruction

 

And with demo account they can backtesting system trading and strategy trading with free of risk, if they can seriously in leanring hence also will useful later if already jump to real account

 

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for many newbie should use a demo account for the demo account then we will be able to be able to get good trading skills. so we'll start trading real money account with either, for that we have to use a demo account to the maximum. and start trading real money account with a small capital first

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My best tips for newbies, as i am also using these are learned from other experience and get their suggestions and tips, this can be done very easily from different forums including this, and than try your skills first in demo account before entering in real account. 

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SL and TP are kinds of forex discipline that newbies should consider. Unless if they could cut their profit/loss in that time, they need this to prevent any big loss that could be happen.

Yes, this is very important to manage risk in trading, use stop loss and taking profit, and might will better also with use risk reward ratio, and many advice for beginner from expert is only spent risk maximum 5% each plan trading to making more opportunity made new transaction

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Everyone will say something like that, by use our common sense first we should try demo account and later switch to real account, if you only trade through demo account you cannot earn and if you trade only in real account you may get chance to obtain profit but i am sure the price is expensive since trial and error in real account cost you real money.

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Trader require experience in order to obtain the best results. Now I try to maximize trading in TICKMILL, where the broker is giving me the benefit with low spreads, as reflected in the demo account contest is held weekly

 

 

The more you trade, the more experience you will gain. And make sure to evaluate your trading journal in the end of your trading session to learn something new and avoid the same mistake.

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The more you trade, the more experience you will gain. And make sure to evaluate your trading journal in the end of your trading session to learn something new and avoid the same mistake.

 

yes, in this forex trading experience is important because with a lot of experience will allow us to trade with the maximum. For that, we should be able to continue to improve the experience by using either a demo account or with a demo contest and we can learn from the experience with good

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yes, in this forex trading experience is important because with a lot of experience will allow us to trade with the maximum. For that, we should be able to continue to improve the experience by using either a demo account or with a demo contest and we can learn from the experience with good

So you both is discussing about demo account? Well, for newbie they should use it to their maximum power. The reason behind this all is not rocket scientific. Some people explained it before in few pages back if you want to see why newbie should use it, the next tip is focus, control your emotions and stick your brain with your current safe risk management.

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If any newbie likely they already start in real account, first to thinking is about how to manage the risk with strict risk management, don't thinking will easy making profit and saving account with low risk in trades will giving many opportunity to maklng new transactrion, many trader fail beause they fgeedy at first time and being emotion

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So it is all about greediness isn't it? Well there are 4 emotions which i see right now as the reason why many traders easily lose and they should learn how to avoid or control it, aside from emotions traders also need to learn about profitable strategy, because without profitable strategy you won't make profit at all

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So it is all about greediness isn't it? Well there are 4 emotions which i see right now as the reason why many traders easily lose and they should learn how to avoid or control it, aside from emotions traders also need to learn about profitable strategy, because without profitable strategy you won't make profit at all

 

Greediness, unable to control our emotions, lack of discipline and lack of trading mental is the most dangerous things we might want to avoid when it comes to trading on forex market.

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  • 1 year later...

Greediness, unable to control our emotions, lack of discipline and lack of trading mental is the most dangerous things we might want to avoid when it comes to trading on forex market.

We have to understand for good trading management, where we maintain good emotional control, and keep to discipline, this business should be more careful every time we will make a decision. And maybe it would be better for traders to always improve the ability of good trading where we want to facilitate in trading on the run

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We have to understand for good trading management, where we maintain good emotional control, and keep to discipline, this business should be more careful every time we will make a decision. And maybe it would be better for traders to always improve the ability of good trading where we want to facilitate in trading on the run

Making decision when trading is not easy, it takes process. Trader should learn first about forex, characteristic of market forex. We can use forex analysis like I get in FXB Trading. 

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  • 2 weeks later...

Making decision when trading is not easy, it takes process. Trader should learn first about forex, characteristic of market forex. We can use forex analysis like

Everything we have to think about first, where we understand in the market that runs for our analysis, and also with us always to continue in the level of good trading ability with to be able to facilitate in reaching its profit consistently

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Everything we have to think about first, where we understand in the market that runs for our analysis, and also with us always to continue in the level of good trading ability with to be able to facilitate in reaching its profit consistently

As a trader, we need to be able to understand about forex trading. Without it, we can not trade well in forex. We can  learn about forex trading with demo account first like I did with FXB Trading.

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Greediness, unable to control our emotions, lack of discipline and lack of trading mental is the most dangerous things we might want to avoid when it comes to trading on forex market.

Agree with you. We should not bring our emotions in a trade. But also we can not put it aside right from the start. We have to go experience them and realize how they are affecting our trades. Then we can work on learn to keep them aside.

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Agree with you. We should not bring our emotions in a trade. But also we can not put it aside right from the start. We have to go experience them and realize how they are affecting our trades. Then we can work on learn to keep them aside.

The emotion we have to manage or control well, because the emotion will destroy everything, and forex is a business that is very risky too, the trader must be in earnest in learning to improve the quality of the mindset is good, and also with the trading work good and true so that when in a plunge in real trading can make it easy to achieve its benefits

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The emotion we have to manage or control well, because the emotion will destroy everything, and forex is a business that is very risky too, the trader must be in earnest in learning to improve the quality of the mindset is good, and also with the trading work good and true so that when in a plunge in real trading can make it easy to achieve its benefits

Uncontrollable emotions surely destroy you slowly or quickly depend on how bad you are. Emotions only become harmless if you know how to deal with it. My best tip is re-evaluate each of your trading, controlling emotion is not really something that you cannot describe how to do, it is something you should coming up with yourselves.

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