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Building a collection advices for newbies in Forex Trading
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[QUOTE="tommy0921, post: 16562, member: 8093"] Hi all, I've just started to learn to invest in Forex field for 2 weeks. This is a good way to earn money if we well understand about trading, tools, and strategies in Forex. As a newbie, I follow people instruction and [B]create a demo[/B] at [I]fxdialogue[/I] because[B] it is said[/B] that [B]the best way[/B] to learn Forex is open a demo account. I agree. A demo account helps me understand Forex better. Alike any other newbies, I still have not much experiences. Therefore, I create this thread to put advices and experiences in. Obviously sometime advices cannot be correct for 100 situation, but it helps us gain experiences. I really appreciate your advices, and experiences. Post them in, so we can make this thread become collection advices for beginners. I start first, and if there is something wrong, please notice 1. As I said above: [b]"Never start Trading without FIRST using a*DEMO Account"[/b]*.A Demo Account allows you to become familiar with trading procedures, such as placing Market, Stop and Limit orders without any risk. All dollar losses or gains in a Demo Account are imaginary but the 2. [B]Start with basic trading knowledge[/B]. There are some people invest without knowing what they are doing. It's the worst thing human have ever made. We don’t need to have MA degree, 'cause even MA will lose sometimes, but we've better knew deeply about what we will do. 3. [B]No one cares about your money as you do[/B]. Take 100% responsibility and never wait for brokers to take your responsibility. Brokers do not always show a potato as it really is. You have to know what they tell you are true or not. 4. [URL="https://www.earnforex.com/forum/f8/32-rules-every-trader-should-follow-4337/"][B]32 rules traders should follow[/B][/URL] (I want to put them in here, so people can choose what they want to see without spending too much time to find, this is our forum link, not go outside) 5. [B]Don't break your entry and exit rules[/B].*You made them for bad trades, just like the one you're stuck in right now. 6. [B]Don't try to get even[/B].*This isn't a game of catch-up. Every action you make has to stand on its own merits. Take your losses with detachment and make your next trade with absolute discipline. 7. [B]5 Ways To Identify Fake Forex Broker Reviews[/B] (see below) 8. [b]There are so many questions before starting Forex. How do I choose a broker? Should I use a demo account? What do I need to know before making my first trade?[/b] (see below) 9. [b]Types of Trading Strategies[/b] (see below) 10. [B]Why do Forex Traders Lose Money[/B] 11. [B]32 Rules Traders should follow[/B] 12. [b]Different Types of Brokers[/b] (see below) 13. [b]20 Ways To Stop Losing Money[/B] [/QUOTE]
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