Advice for novices

bigdolly

2nd Lieutenant
Messages
1,155
Every newbie must to know that trading is not a get rich quick game. It needs a lot of hard work and even then the success is not 100% sure. Also they must not risk what they can`t afford to lose.
 

JimmyRozza

Corporal
Messages
90
I would also agree with what others have said XAUUSD is not an instrument for beginners using leverage. It can move like a steam train, often in the opposite direction to what you think.
 

Malaksen

Private, 1st Class
Messages
44
Perhaps, the most important thing that a newbie should know before starting trading is the fact that trading forex is quite the same as any other profession which requires certain skills and knowledge. Forex is not a source of easy money. THere is no easy money left in the world, actually, so in order to be a succes in forex you've got to work hard and always improve your skills, otherwise you'll blow up your budget. More than that, you shouldn't underestimate your psychology as it plays crucial role in a decision making process. Traders make money only after a thorough analysis of the market and setting up accurate and concrete goals.
 
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