Be consistence with your plan. Plan your trade and trade your plan. After opening your position (setting TP and SL in your trade), you should avoid to watch your monitor. Let the market running naturally.
10 Essential Tips For Novice Traders - Online Forex Trading
- Thread starter kuazlan
- Start date
- Watchers 34
As some posters above me have pointed out, there is no reason to say day trading doesn't work. Sure, if you are a newbie, don't go quitting your job and becoming a full-time trader, it requires experience and it's not for everyone. But there is nothing inherently wrong with day trading.
I've read a ton of lists that contain beginner tips and gotta say I like the ones you picked. Think you mentioned some of the most important points and I don't see these mentioned nearly as often as they should be. For example, trading on you own instead of following someone else.
There are so many things that beginning traders have to stay away from like high leverage, day trading, and high risks. You must first learn by staying low key in the market. The beginning is meant to gain experience because you have plenty of time to make profits. And the focus of gaining experience is to become consistent at making profits.
These are some excellent tips you have written in this post. Traders must rely on their own ability, be patient and be realistic. I do not agree on the note that traders should not do day trading though. If he is confident and has a solid strategy, he may do day trading too. Yes, day trading can be stressful and needs serious effort from a trader.
