Advice for novices

Miss.li

Recruit
Messages
5
What do you need to know when you join forex trading? Yes, your goal is definitely to make money. But how to make money? You need to choose a product that you are familiar with or that you know.How to determine the transaction time? You need to have a professional analysis, or have a professional person to help you analyze it.I can directly say that I have experienced great ups and downs in foreign exchange trading, so I know the market very well now. The product I invest in is XAUUSD. I have analyzed the trend of gold plummeting in June. I went short, and One transaction realizes the freedom of wealth
 

bigdolly

2nd Lieutenant
Messages
1,133
Gold moves in a trend more than other assets that's why medium and long-term bets make more sense rather than scalping.
 

RahmanSL

Major
Messages
2,844
What do you need to know when you join forex trading? Yes, your goal is definitely to make money. But how to make money? You need to choose a product that you are familiar with or that you know.How to determine the transaction time? You need to have a professional analysis, or have a professional person to help you analyze it.I can directly say that I have experienced great ups and downs in foreign exchange trading, so I know the market very well now. The product I invest in is XAUUSD. I have analyzed the trend of gold plummeting in June. I went short, and One transaction realizes the freedom of wealth
Congratulation on a successful trade.
Posting a screenshot of that trade here should be inspirational to other Traders here.
 
Messages
210
I think the biggest thing is to focus on the process rather than the goal. Each step take it as a whole entity and then you will reach your goal
 

TheNewbieTrader

Recruit
Messages
95
What do you need to know when you join forex trading? Yes, your goal is definitely to make money. But how to make money? You need to choose a product that you are familiar with or that you know.How to determine the transaction time? You need to have a professional analysis, or have a professional person to help you analyze it.I can directly say that I have experienced great ups and downs in foreign exchange trading, so I know the market very well now. The product I invest in is XAUUSD. I have analyzed the trend of gold plummeting in June. I went short, and One transaction realizes the freedom of wealth
Do this x times over and you can say you are a good trader - but it seems like you may have got lucky on this occasion.
 

FxMaster

Lt. Colonel
Messages
10,376
What do you need to know when you join forex trading? Yes, your goal is definitely to make money. But how to make money? You need to choose a product that you are familiar with or that you know.How to determine the transaction time? You need to have a professional analysis, or have a professional person to help you analyze it.I can directly say that I have experienced great ups and downs in foreign exchange trading, so I know the market very well now. The product I invest in is XAUUSD. I have analyzed the trend of gold plummeting in June. I went short, and One transaction realizes the freedom of wealth
Sharing the screenshot of the trades indeed a inspirational step :)
 

JimmyRozza

Private, 1st Class
Messages
56
Spend as much time as you can learning as much as you can to start with.
Remember, money can not buy experience.
 

Kirstysingy

Recruit
Messages
42
Gold is definitely one not for newbies in my view as pip value is massively different from your standard currencies
 

fxoday

Recruit
Messages
495
Gold is one instrument with a higher volatility market, but this becomes challenging because if traders can making good trading analyses, the profit from gold maybe will be higher, choosing a broker with a low spread for Gold is help trader to make a profit.
 
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