General advises and experiences sharing for forex traders

[FAUZEY_FX]

My advises for new comers in this business, they should learn basic knowledge first. Don't jump to advance knowledge because they will feel dizzy learning advance knowledge before finishing basic knowledge. You can get a good mentor that will guide you.

 

[Shing1985]

I think more of the knowledge would be required for this war of making money with the Forex trading. Patience will come to you by the practice. But taking the first step would be the most important part that we should be well experienced. From the experience you will be able to come across with more profits and benefits.

 

[maby84]

I am quite new to forex but I think that the main advice you should follow at first is to put your mind to it by understanding the various aspects involved such as trends, the need to establish a plan, the need to be careful as well as the importance of being regular in your activities as a trader as this will help you gain experience and more insight. Start with a demo acount and then when you feel rather at ease move on to small real life trades.

 

[FAUZEY_FX]

I am quite new to forex but I think that the main advice you should follow at first is to put your mind to it by understanding the various aspects involved such as trends, the need to establish a plan, the need to be careful as well as the importance of being regular in your activities as a trader as this will help you gain experience and more insight. Start with a demo acount and then when you feel rather at ease move on to small real life trades.

welcome to this business, I am sure you can survive with good advises from senior traders

 

[Shing1985]

Money is the best motivation factor. There is nothing more motivating than money when it comes to completing your task or job. People are flocking to the forex market to become forex traders because of the money. All of us are in this business to make money. Whenever it seems like all hope is lost, look at the opportunity, fortune, and riches you can make through trading forex market and you will be motivated to try harder instead of giving up.

 

[46du114t1f]

Yes materially, it is money that motivates to trading.

But spiritually, trading is almost a way of life.

You have to be disciplined and stay committed in trading.

Trading also teaches you to be yourself.

Choose a timeframe that suits you personality. Take only the risk that you are afforded of.

Then stick to your trading plan.

Accept your own mistakes and weaknesses as a human.

Losing a trade does not mean that you cannot become a trader at all. In business there are time of losses and profits.

Lastly, becoming a chairman of a company is a bonus.

 

[Shing1985]

Risk is necessary to trade in the Forex market, but we must never let emotion control our decisions. If the risk is positive, adequate market analysis and study can be conducted. You cannot expect good results if you trade emotionally. For trading on the Forex market, we must take the risk, but we must manage the money as well as the capital. A business must be willing to take risks, of course at a manageable level. Traders who have more risk than their capital can have their balance go to zero at any time. There will be no more opportunity to trade once the capital is exhausted.

 

[Shing1985]

In Forex, money management, stop loss, and different strategies are discussed, but we forget to mention another important topic, which is Mother Trading Psychology, learning different Forex techniques, and our Trading Psychology and Development. All you need is to order more greedily when trading, not to order even after receiving the opportunity due to low self-confidence, these are all part of trading psychology.

 

[sunar14]

Trading psychology concerns emotional responses of a trade to profit or loss and their impact on trading decisions. As it is well-known fact that trades made under the sway of emotions are biased and lead to mistakes our goal is to find ways how to avoid being involved emotionally intro trading.

 

[Electric Rainbow]

Trading psychology basically refers to the emotions as well as a mental state that would be helpful in dictating success or failure in trading securities.