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    Thread: What should the newbies do to succeed? (part 2)

    1. #121
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      Default What should the newbies do to succeed?

      If you a newbie and want to be a successful trader then there is no other way except learning well. And gain your knowledge more about this Forex trading. Else you might be able to earn profit but that not for any long time. For long time success you need to learn well and also you need to do practice in some demo account regularly for at least three or more months.


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      Newbies have a lot to do in their ambition to excel in this Forex trading business but it is saddening that most newbies just take this business as some kind of plaything through which they can easily make some quick money without any serious work.

      Newbies should make it a point of duty to come and participate in this forum because that is where they will gain the right insight knowledge on how to tackle their Forex trading business.
      BE WEALTHY IF U WANNA BE !
      BE WRETCHED IF U CHOOSE TO BE !!

      THE CHOICE IS YOURS !!!


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      Newbies should keep in Mind that Greed is the biggest enemy of anyone in Forex Trading business. if you want to get real and long term success then you need to develop your skills to control Greed during trading. every Newbie should spend some months in Demo account for this purpose because practice can make us perfect.
      if you ignore this thing then you will always struggle for success and money in this business even after spend years in market.


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      There are Many things a new beginners has to do in other to be successful in the forex trading market, the first thing they really need to do is attaining the best knowledge of Forex and right after that u think they need to then move on to practicing of what they have learnt, and also they then need a Good trading techniques and the forex tools and then a good trading capital


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      I think that those rules are very important for newbies trader. I just want to add one more thing which is overconfidence. I have lost so many trades for my overconfidence . this thing really trying to kill my trading career. I really trying hard to avoid overconfidence. I am working on it now.


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      Newbies will have to study about this trading. Many books connected with this trading are available in websites. Then they have to exercise this trading experimentally. If they are able to succeed in such kind of trading, they can participate in the trading of real account. In real sense, success lies in extensive practice. They need hard work excluding this trading is a game.


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      Newbies need to be patient in trading the forex. This is because many newbies make profit for the start yet they loose it because they think that is how it continues so they increase the lot size.
      The new traders also find it difficult to know when to exit a trade since the experience is not there yet, so making consistent profits for newbies is difficult.


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      For new forex trader to achieve success i think for sure they must learn discipline. With having strong discipline in money management will be really helpful for new forex trader to survive in long term. While new forex trader can manage trading activity in long term then new forex trader can learn step by step to have good understanding with new forex knowledge.


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      the newbie to succeed needs first to be patient,also he should not look for making big or quick moneyand if he avoids this goal at the beginning then he will be in the first step of success, because his first goal will be learning and practice and so he will do his best to know how to trade and then he will get success gradually


    11. #130
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      Quote Originally Posted by min2786 View Post
      Original thread: What should the newbies follow for being succeed?
      What should the newbies follow for being succeed? (2)


      new trader should know this business very well. how the trader can make profit. it can be known by the trader so that he can take the decision wisely. in this case, trader have to study this business and practice more and more. he should give up his greed and not try to open big trade.
      Every new trader should learn and practice demo account more and more time for gain proper knowledge and experience for this business. without proper knowledge and experience anyone cant get success in this business. forex is a risky and profitable business so when new trader can gain knowledge, skill, strategy, money management and time analysis then there can gain success in this business.


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