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question- what are the things that a trader should never do?

Discussion in 'Beginners Bootcamp' started by jkm, Feb 12, 2015.

  1. jkm

    jkm Private

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    What are the things that a trader should never do?
     
  2. Pharaoh

    Pharaoh Colonel

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    This could be a long list. Here's a few to get you started.

    1. Never open an account without carefully investigating the broker.

    2. Never let a broker employee place a trade in your account or accept a trade recommendation from a broker employee without independently confirming the trade setup.

    3. Never trade without a stoploss in place.
     
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  3. jkm

    jkm Private

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    Thankyou Pharaoh....these are helpful.
     
  4. FxMaster

    FxMaster Lt. Colonel

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    Let me add few points...........

    Don’t start trading with real money. I mean first learn how to trade on demo till you get confidence on your self and then jump in to live trading.

    Never deposit big amount at start up, check the broker with small deposit.

    Always read reviews and complaints about the broker before you open account with them.

    Best Of Luck :)
     
  5. victoriajensen

    victoriajensen Private, 1st Class

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    Don't start trading on Monday before checking the economic callendar for the entire week - getting surprised by high volatility caused by a big economic event you had no idea about can be very unpleasant.
     
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  6. downtrend

    downtrend Sergeant

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    A beginner should NOT start trading directly using real money. He should trade first on demo for at least 3 - 4 months. Only then he will become able to understand some what about the working of the market.
     
  7. iMusingKiMi

    iMusingKiMi Sergeant

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    Newbie Trader
    Never trade in DEMO when you 1st approach and new to the market.

    Rookie Trader
    Never think you know everything, because it is endless learning in trading.

    Advance Trader
    Never keep too many system in your head.

    Pro Trader
    I don't know:D
     
  8. NicholasM

    NicholasM Corporal

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    Pro trader? Well, the Forex market has "No Pro". But there are few traders out there who just keep on turning profits. Nonetheless, I think a pro trader should never compromise his/her expertise by being over-confident. Anything can happen in the world of Forex, and the more we think we are in absolute control, the more we are likely to let our guard down.
     
  9. OlafYom

    OlafYom Banned spammer for FreshForex

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    Yeah, but still...trading on demo is quite different from trading with real money. When you trade on demo you don't use your money, so you don't have to control your emotions because you don't miss anything if you meet with losses.
     
  10. nahiyar

    nahiyar Private, 1st Class

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    yes it happened we are more relax while trading on demo account . In real trading we face emotional situation. A trader should never apply results of demo on real his performance will totally different when h will trade with his own amount.
     

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