5 Tips for forex beginner

Sheldon56

Banned
Apr 18, 2020
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Good It's really important in forex trading. Every beginners need to follow these tips before invest in forex trading.
Agreed. These are some important tips. Another crucial thing to follow is not to over trade at all. That's another thing to be careful about.
 

Zalea

Newbie
Sep 15, 2020
28
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5 Forex trading list for beginners

1. Money Management
2. Always use a top loss
3.Be realistic
4 . Interact with other traders
5.Keep your emotion under control
 
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e_abrams

Trader
Dec 11, 2020
280
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Don't revenge trade. That tends to be one of the biggest mistakes newbies make. They lose and they desperately want to get their money back and just dig themselves ever deeper.
 

Zeenat shein

Banned
Apr 11, 2020
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Know the Markets. We cannot overstate the importance of educating yourself on the forex market.
Make a Plan and Stick to It.
Practice.
Forecast the “Weather Conditions” of the Market.
Know Your Limits.
 

danielbro

Trader
Nov 26, 2020
60
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For me, I would say:
  1. Learn, learn and learn so that you can get better in time
  2. Always use stop loss to avoid dealing with nasty losses
  3. Don't let the emotions get the best of you while you trade
  4. Money Management to maximize the profits and
  5. Risk Management to minimize the losses
 
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Reactions: Fritz Fabiano

e_abrams

Trader
Dec 11, 2020
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I would add having a trading plan among those, it's especially important for a newbie because it gives them structure to fall back on when necessary.
 

Fritz Fabiano

Newbie
Jan 7, 2021
23
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For me, I would say:
  1. Learn, learn and learn so that you can get better in time
  2. Always use stop loss to avoid dealing with nasty losses
  3. Don't let the emotions get the best of you while you trade
  4. Money Management to maximize the profits and
  5. Risk Management to minimize the losses

  • Do have sufficient knowledge of Forex market.
  • The market keeps changing so do a continued research of it and make strategies accordingly.
  • Learn about risk management and money management.
  • Maintain trading journal.
  • Keep your emotions out.
Great list! Couldnt agree more about proper plan one.
 

Profl_

Newbie
Feb 18, 2021
3
0
1
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For me beginners must work on:
Having a trading plan, gaining knowledge, working on their emotions, demo practice and quite important, risk management.
 

e_abrams

Trader
Dec 11, 2020
280
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I agree. A lot of people seem to be going into trading thinking they'd make a lot of money overnight but reality couldn't be further from that.