Advice for novices

kin78

Recruit
Messages
10
The best advice I could any new trader is to not pay for a single course or mentorship before doing their research -FPA is a good place to start. Lots of good free resources to take advantage of.
 

bigdolly

2nd Lieutenant
Messages
1,194
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.
 

sebking1986

Recruit
Messages
382
You need to understand as a new trader that the aim should be trading well. Money follows good trading. Not a single good trade but good long term trading. Asking how can I make money ironically results in the opposite happening.
 

bigdolly

2nd Lieutenant
Messages
1,194
You need to understand as a new trader that the aim should be trading well. Money follows good trading. Not a single good trade but good long term trading. Asking how can I make money ironically results in the opposite happening.
Yeah focus on profit goals distracts you from sharpening your trading edge, when you hunt for profit you enter vicious cycle when losses force you to seek trades that may revenge market.
 

Waryangez

Private
Messages
16
Know that you won’t be able to make money on the first day of trading and neither is it going to be easy. You have to become a student and take part in this ever continuous learning process. Start small and mark up your way from there.
 
Messages
2
The first thing you need to know is basic economic concepts. Like demand and supply and all this stuff. Later on you should learn trading pecularities and choose the financial instrument for trading. Basically, most traders choose EURUSD because it is one of the most liquid and volatile currency pairs. So, you've got to know how this instrument behaves in different market conditions and how to make use of such a behaviour. One of the most crucial thing is money and risk management. This will secure your budget from the absolute loss whatever happens on the market.
 
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