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what can be our suggestions for newbies who wants to start forex trading !


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73 replies to this topic

#1
Levie

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share here your suggestions that can help newbies who want to have effective trading experience. lest help them to have idea on how the market flow.


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#2
Anne Morris

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I can’t say about others but my suggestion is going to be simple and that’s to gain knowledge and experience, it’s something that will automatically help us working nicely and will lead to rewards. I have learned a lot from Baby Pips which for me is the best site for learning and there is no rocket science in knowing that. Now, it’s important that we understand learning is just not enough, we need to learn to apply what we have learned and only then it will mean anything. I get great help from OctaFX when it comes to execution and that’s with their demo contest where apart from chance to create and apply methods, I can also win serious prizes.


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#3
radex78

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My suggestion for newbie if they already start in real account after passed on demo account with good confident, first they thinking about how to saving and don't thinking how to boosting, it's mean they should trade with strict risk management to making more opportunity making new order if they trade with strict risk management


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#4
bearhugs

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To start as newbie, one must learn well about forex market. Study as much as you can for each concepts of Forex trading. Also working on demo helps more to newbie. Until you are happy with your demo trading, one should not start real trading. 


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#5
radex78

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To start as newbie, one must learn well about forex market. Study as much as you can for each concepts of Forex trading. Also working on demo helps more to newbie. Until you are happy with your demo trading, one should not start real trading. 

So many source we can learn from reading ebook, or might you can learn on babypips on school of psychology, but I think beside learn theory also they need practice in demo account, because market condition remain same with real market itself, they can bacltesting skill in demo with free from losing money because only use virtual money


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#6
sidejob

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First and the most important one is don't trade in real account YET. Trade in demo account first, spend at leaasat 6 months it would be good if one year. Trade there at least once in a week. This could boost your understanding about forex as you learn from other forex's blog. If you are loss check what is the main cause, and then find how to solve that issue.


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#7
myregister

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Never give up, lowering your expectations but not so low, focusing on trading than daydreaming, keep your risk management as tight as possible not more than 5% of your total capacity on your account, next never let emotions to overcome you. The two biggest enemy are fear and greed.


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#8
radex78

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Yes, I think suggest newbie to not give up is good advice because maybe so many newbie they faced with quick desperation because facing with many obstacle in forex, maybe many newbie they joined and leaving forex because one failure, but if trader that have good mental and having positive mindset if forex is ot easy way to get rich at short time, hence they wll never give up and keep leanring


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#9
Levie

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Never give up, lowering your expectations but not so low, focusing on trading than daydreaming, keep your risk management as tight as possible not more than 5% of your total capacity on your account, next never let emotions to overcome you. The two biggest enemy are fear and greed.

I agree with you , newbies well say, all traders must not give up. we might encounter some difficulties when trading which is really part trading, better be strong enough to face all of it, after all success takes a long time before we can achieve it, have patience and maybe in no time, you'll be one of the successful trader of forex trading.


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#10
Norm O'Neill

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I will suggest just one thing to anyone and that’s to be confident and relaxed, it’s never going to work for us if we’re taking too much tension all the time, I believe Forex is a business that works great if we let it work well, but if we keep changing things then no matter how great the plan is, we will find things going against us. I get great support from my broker OctaFX since they have epic conditions with low spreads from 0.2 pips to high leverage up to 1.500 while there is also massive 50% bonus on deposit which is trade able too, so this is how I get confidence and support, it has helped me massively so far in my career.


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#11
Levie

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yes we need to be relax so we can perform good here in forex trading. And makes sure that we have knowledge on how the market flows. Forex is a risky business. everything might happen, so be prepared on how will you deal with it.


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#12
myregister

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@levie but it is hard to live up to it. Dream is always be dream if we don't make it reality and if you don't act just becuase of you feel forex is not for you then it will vanish forever.  It’s never going to work for us if we easily quit, forex with its variable already give us better view about forex as hard business but lucrative at the same time.


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#13
radex78

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@levie but it is hard to live up to it. Dream is always be dream if we don't make it reality and if you don't act just becuase of you feel forex is not for you then it will vanish forever.  It’s never going to work for us if we easily quit, forex with its variable already give us better view about forex as hard business but lucrative at the same time.

Keep spirit ilearning, failure might only as delay succeed for trader, still many hope and opportunity on future, forex is relaiable busienss as ource of income if any trader seriously in learning, indeed making money in forex is can't stable, sometime loss still inevitable adnd as trader also need they have good mindset about forex if this is not easy way to get rich at short time


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#14
myregister

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Keep spirit ilearning, failure might only as delay succeed for trader, still many hope and opportunity on future, forex is relaiable busienss as ource of income if any trader seriously in learning, indeed making money in forex is can't stable, sometime loss still inevitable adnd as trader also need they have good mindset about forex if this is not easy way to get rich at short time

Yes, i don't know what i have to say but it is true that forex is a reliable business and could be a good source of income but still a risky business, so my best advice for newbie is that you should control your risk, focus on realistic earning and it is better you get less profit than less loss for the sake of bigger profit which we don't know can achieve or not.


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#15
radex78

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Yes, i don't know what i have to say but it is true that forex is a reliable business and could be a good source of income but still a risky business, so my best advice for newbie is that you should control your risk, focus on realistic earning and it is better you get less profit than less loss for the sake of bigger profit which we don't know can achieve or not.

Forex is not quick way to get rich at short time, if newbie they have mindset they can making quick profit and earn money from forex might only in lucky thet can, but for long run forex actually required good learning to finding profitable system and strategy, and to achieved this level as trader need high dedication and never give up


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#16
myregister

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You hit the point here, many newbies tend to think that forex is such business where they can get big profit in just small period of time. This is abnormal for me, and my small 2 cents for newbie is don't ever think like that, you may think forex is reliable business where later you may able to depend on but this is still not quick rich program.


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#17
radex78

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You hit the point here, many newbies tend to think that forex is such business where they can get big profit in just small period of time. This is abnormal for me, and my small 2 cents for newbie is don't ever think like that, you may think forex is reliable business where later you may able to depend on but this is still not quick rich program.

Maybe so many newbie they want to making quick profit without deep learning, actually forex trading is difficult business to making profit, although price movement oinly on two edge, if not down trend hence will up trend but in fact to analyze the trend market properly is not easy task, forex is risky business and not easy to making profit consistently


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#18
skyrock

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Newbie need a good forex tutor to get started because in forex trading the major thing which any forex trader need is the knowledge to move on without the knowledge its very impossible for any trader to make it
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#19
myregister

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Once again greedy, don't be ever greedy when trade into foreign exchange. Well having a dream to be rich or successfull isn't a sin but realize that is not easy it may take years, you may have to "bleed" first, you may lose your account. If you want to start forex trading expect for the worst and keep learning with these you are able to overcome all the obstacles.


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#20
radex78

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Will better I think if newbie they practice using demo account for learning process, because many trader can't maintain account more than six month hence will good if they willing to spent practice in demo at least six month although might many beginner they rush to start in real accoiunt because they want making real money


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