Forex beginners

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  1. #11
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    Forex beginners
    Quote Originally Posted by Lea View Post
    I couldn't agree more, and you have to pay close attention to the market as you scalp.
    It's also very advisable to use stop lose and take profit, especially the stop lose as the market can go against you.

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    Quote Originally Posted by Nich View Post
    It's also very advisable to use stop lose and take profit, especially the stop lose as the market can go against you.
    True, and also very important to trade with a broker with fast execution else you are in for trouble. I haven't had any issues on this with forexchief though but I know how it feels like when your execution stalls from previous experience.

  3. #13
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    I think forex is an ideal market for beginners because it allows to place short and long-term trades, try news, swing trading, momentum, etc. It exhibits different qualities and respond to various events so we can try any strategy we can think of.

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    Quote Originally Posted by babushkafx View Post
    I think forex is an ideal market for beginners because it allows to place short and long-term trades, try news, swing trading, momentum, etc. It exhibits different qualities and respond to various events so we can try any strategy we can think of.
    I would say this is way too complex for a newbie, always trade with a plan and always keep your plans simple.
    Check this article, might help.
    Last edited by Lea; 11-25-2022 at 10:48 PM.

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    Quote Originally Posted by Lea View Post
    I would say this is way too complex for a newbie, always trade with a plan and always keep your plans simple.
    Check this article, might help.
    Simplicity is key, one can stick with a simple plan like having daily target, simple trading strategy and be very focused.

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    Basically we the traders in particularly the newcomers try to make money very rapidly by using high leverage and practically fall a great loss due to non-sense planning and zero risk management policy, nothing to do with high leverage at all. So, before trading with high leverage we have to know how to manage risk.

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    Quote Originally Posted by Golden Sark View Post
    Basically we the traders in particularly the newcomers try to make money very rapidly by using high leverage and practically fall a great loss due to non-sense planning and zero risk management policy, nothing to do with high leverage at all. So, before trading with high leverage we have to know how to manage risk.
    This is so part of the reason why many newbies run off the market so easily, no patience. There is no holy grail here, you must learn to grow steadily not speedily.

  8. #18
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    Quote Originally Posted by Lea View Post
    This is so part of the reason why many newbies run off the market so easily, no patience. There is no holy grail here, you must learn to grow steadily not speedily.
    Honestly most times it's not so easy being consistent especially when things are not going well even with several efforts. All I can say we shouldn't give up.

  9. #19
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    In Fx trading by and large traders think only good trading knowledge can brings success very rapidly , but practically despite of good trading knowledge thatís not possible at all to lead a comfortable trading life if you donít know how to manage your time.

  10. #20
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    in ro ham eslah kon:
    Broker is a big deal to make sure a successful trading life with certainly. so we the traders have to choose the broker which for all time make sure security of funds , lowest trading spreads , low transaction cost , easy withdrawal system without long time process, active customer services and much more that are very supportive to lead a comfortable trading life with certainly.

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