the confusing world of trading

[orni308]

And if u r newbie in FX then do not forgot to set sl levels to minimize your losses.
Have u chosed strategy u'll trade by? if you already chosed then try it in demo account.

Not only stop loss there are lot of things that a new trader has to take care of both personal and related to trading.

 

[EURUSD]

Not only stop loss there are lot of things that a new trader has to take care of both personal and related to trading.

Stop Loss is important thing to prevent big losses in single transaction but traders need to evaluate when Stop Loss point is reached many times especially if it was happening many times in a row. You could evaluate the mistake in open position or your setting to place Stop Loss. Some traders prefer to trade without Stop Loss, it is okay, but traders need to know the usage of stop loss as risk management. It means the usage is preventing big loss so if traders didn't like to use it then they should find out way how to limit loss without Stop Loss.

 

[Purekiller]

And I'll give you some advice - take your time and don't be afraid that something will go wrong! Because it was, it is and it will be. The market is always full of surprises and I'll tell you frankly that it's not always pleasant. So just try to minimize the risks and make a qualitative analysis of your failures.

 

[Vo32ss]

If you're not sure what you should use, try different approaches. In fact, it is difficult to advise something for nothing, because each of us has different temperaments and attitude to work, so it's better to decide for yourself and do not rely heavily on any advice ...

 

[Sazzad28]

Hi,
If you are a newbie on forex trading then you need to know some tips and forex rules.

• Knowledge is very important, because without knowledge you can not do anything. Knowledge is power.
• Know the trading market properly, if you want to work with forex then you should understand trading market. Where you will doing work.
• Practice more and more, i think you know that, practice makes a man perfect. So, if you practice with trading then you can be a successful trader.
• You should know the daily weather report. Because trading buy and sell related to natural weather. I think you know it. Example COVID-19.
• You need to know the world economical situation. Because the main fact on the trading is economy.
• Build a connection with friendly and good brokers.
• You need to know your limits.
• Need a perfect plan for trading. If you work with perfect plan and target then you can gain your goal.
• Need to know some techniques for your trading.
• Control your emotion.

So, if a new trader follow this tips for trading i think he will never confuse.

Thank you..

 

[Faelar]

I think that's what's good about trading, that there are a lot of options and work formats and you can choose exactly what suits you.
So you don't have to be upset about this diversity, it's really your chance to get settled and find something that will bring you a stable income.

 

[Alisha Zuber]

Yes, off-course Forex is a trading platform which is also confusing, that's why its often said Forex is not easy, you need to work hard on your skills and knowledge to get good profit out of it as trader or broker.

 

[Painskin]

Being a newbie in trading world it's always hard, the most important thing is not to try everything at once. Try to learn and learn something new gradually, so you will remember more, and in the future you will be able to freely use the gained knowledge and combining it. I would also advise you to read a lot about platforms, mechanisms, systems of other brokers and other topics. Do not be afraid to lose a small amount of money, without it, you will not get the necessary experience. It's also always a good idea to ask for advice on forums, too, do not forget about it.

 

[Rick Beesley]

Go for a broker with the strongest regulation. Even then, be aware that if a dispute arises, you'll still face an uphill battle to recover your funds.

Only put in money you can afford to lose.

If any forex company employee ever tells you to borrow money to fund an account, open a thread on that in the Scam Alerts Folder.

"ONLY PUT MONEY YOU CAN AFFORD TO LOSE". I love it. You need to make a t-shirt with that print.

 

[Mneri]

First you need to figure out what minimum deposit amount you can afford, what you expect to get from trading, what system you will have and so on. And then under these requests, you have to choose a broker. It's not the other way around. So first, decide on the requests and requirements.