The one piece of advice that I can give to Newbie Trader is to Learn and practice using demo account to gain more knowledge in the business. You must always bear in mind that Knowledge is the key to success!
One piece of advice that you can give to a newbie trader
- Thread starter SweetPrincess
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Wow, that is one piece of good advice.. Technical analysis uses past price movement to determine where a currency maybe headed.
Agree! A demo account will familiarise you with the MT4 platform and its features, the personality of the various currency pairs, order types, techniques and strategies. It won't teach you how to handle the psychology of trading, however, developing a strategy that delivers consistent results will provide you with the confidence to stick to strategy rules during adverse trading conditions.
My advice is: don’t be a rush! I have noticed; all of the new Forex traders are too much hurry! They want to make the huge amount of money before learning, they concentrate on earning rather than learning, that’s not right.
Of course, it is! Knowledge is the power! No one can make here consistent result unless having a proper trading knowledge & skill; besides, till now demo is the 1st choice to learn Forex without any fee.
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