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Newbie mindset for forex trading

Edward Peterson

Active Member
Most new traders take trading very lightly. Actually they have been told in most cases that trading is very easy work. There is profit and profit. Everyone is making money. When price will go high you have to sell and vice versa. They ignore the bitter reality of trading. If they were told that for trading first you have to be skilled enough, the things could have been much better.
 
As a newbie, you can learn the technique by creating a demo account. It will help you to find out the problem what you are facing while trading. It also helps to reduce your losses and create an opportunity to increase your profit. I also started my trading career through a demo account of TP Global FX. Really it helped me to understand my fault in trading.
 
Demo is your friend :) im still on a demo account, tried live and got burned so now back to the drawing board, work on my approach and my mind set, then i will go back to my live account to try again, will not stop till i get my strategy to work
 
Demo is your friend :) im still on a demo account, tried live and got burned so now back to the drawing board, work on my approach and my mind set, then i will go back to my live account to try again, will not stop till i get my strategy to work
There are various types of Forex brokers and among them the – STP, ECN and market maker brokers are very popular in this Forex market. Various types of facilities they provide for the clients. But I prefer the ECN trading broker most and that’s why ForexOne the reliable, stable and low ECN provided broker I select for my trading since they have the –narrow spread from 0.4 pips and instant execution.
 
Trading is a stressful activity. The main factors that increase anxiety are uncertainty, risk, and fear of losing money. In addition to "professional" stressors, the trader is also affected by General fears that also arise on financial grounds: family problems, anxiety about the future.

Thus, the trader is under the influence of two types of stress:
 
1 which occurs in specific alarming situations, such as when the market moves sharply

2️ permanent (permanent, chronic).
This condition leads to breakdowns, panic. Profits fall, as the trader often "lose their nerve", which leads to an early exit from a profitable deal. Money becomes less, stress increases-it turns out a vicious circle.

How to get out of it?
 
General recommendations for stress relief

The most important recommendation that any psychologist will give is not to be a workaholic and allow yourself to be distracted from business. Don't let your brain think about stock issues all the time. Relax more often, choosing useful forms of rest:
 
you have to put in the work. do a beginners bootcamp that is available on most tier 1 broker sites. and have some strategies that you can test on a demo account first
 
I would recomend them education, experience themselves in a demo account for a long time and then trade in real with tiny lots.
 
Without a proper understanding of the meaning of having a positive expectancy in the market, a newbie should never trade. Watching chart in demo account doesn't provide anything.
Step 1 Learn TA and FA,
Step 2 Find a system you think that it will work for you,
Step 3 do back test with at least 300 samples
Step 4 post-analyze your test result; if fails Step 2,
Step 5 forward testing with small amount of money ( demo account is another option, but I prefer with the real one )
Step 6 Post analyze FT; if fails Step 2,
Step 7 If everything looks good, start with 25% or 50% of your total money until you see that you can generate consistent profits
Step 8 Enjoy the life
 
newbie like me depending too much on signals....planning to trade properly within this year!
 
You have to take the time to practice. I study and look at the charts daily. Do demo and ask questions.
 
Money Management Is The Key At the end of The Day Nje. Don't Be Fooled By Big Lot Size Traders, Don't follow The Masses Buh Follow the trend. And Use A 1 : 50 Leverage.
 

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