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Daily Forex Tips For Newbies

Discussion in 'Beginners Bootcamp' started by FxMaster, Jul 22, 2014.

  1. abdul2012

    abdul2012 Corporal

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    Thank you for the useful links Mr salim .
    Cheers
     
  2. FxMaster

    FxMaster Lt. Colonel

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    Your Most Welcome Abdul :)

    Feel free to keep us busy if you have any question regarding forex :)
     
  3. jotekfinance

    jotekfinance Corporal

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    Like I said before, this thread is great, I refer people who ask me about it to here :)
     
  4. FxMaster

    FxMaster Lt. Colonel

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    Thanks again for your useful contribution bro, I`ll start postings tips from Monday again :)
     
  5. downtrend

    downtrend Sergeant

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    Set some check list, then only follow that list to enter any trade setup you see. Don't deviate yourself from your plan if you don't want to lose un necessary from trading.
     
  6. Bilal Jafar

    Bilal Jafar Private

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    I completely agree with the point of view that if a person is trying his hand in FX trading then it must be started with the Demo account because If you start with Live account then it would be very difficult for you avoid losses because you don't know how to execute a trade and also you are not use to of trading platform, so it needs to be started with Demo account and after testing different trading strategies, a trader can open a live account.
     
  7. downtrend

    downtrend Sergeant

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    Having a daily check list increases your chances of remaining stick to your trading plan. If you have some written daily check up list then you can easily go through that list and make your trading decisions very easily.
     
  8. FxMaster

    FxMaster Lt. Colonel

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    If you guys follow analysis and market news from pros then you can make better trade deal.
     
  9. victoriajensen

    victoriajensen Private, 1st Class

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    Another useful advice I can give is this: be very careful when trading during big economic events (for example: the US non-farm payrolls). If you don't even comfortable doing it it's best not to do it at all.
     
  10. downtrend

    downtrend Sergeant

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    I exactly thought of same today as I saw this thread title, that any trader whether newbie or old, should first check the economic calender before he decides to trade on any particular pair that day.
     

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