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    Thread: How can a complete beginner earn money from forex?

    1. #1
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      Default How can a complete beginner earn money from forex?

      Most beginners who are completely new to forex always wants to know how they can earn money from the forex market. This may not be a challenging question at all to most experienced traders. Many beginners will be delighted to know from the experienced traders.



      The question is already fully explored with many answer.
      http://forum.mt5.com/showthread.php?...1#post12757456
      Last edited by PhantomTrader79; 05-13-2018 at 08:06 AM.
      POSSIBILITIES ARE INFINITE IN THE FOREX MARKET, YOU CAN ACCOMPLISH ANYTHING !


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      Most of beginner want to start trading with real accounts but they are not realize of less knowledge and practicing in the demo trading. This is the main reason why many beginner face loss in the first their trading experiencies.
      No need to hurry to make a profit, that moment will come to us if we prepare in advance what is needed.

      We must understand that success requires knowledge, experience and the last thing we rarely realize is about time.
      Spend more time to keep learning and practicing until we have good trading skills.
      If we have good trading skills, trust me, profit will come to us easily.


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      Default

      Quote Originally Posted by fanatic View Post
      Most beginners who are completely new to forex always wants to know how they can earn money from the forex market. This may not be a challenging question at all to most experienced traders. Many beginners will be delighted to know from the experienced traders.
      A new beginner in Forex trading popularly called Newbies obviously has no knowledge about the Forex business and as such cannot earn on their own. Such a Newbie can choose a ForexCopy system or choose a PAMM system and then invest in it, That is the only way that they can make Money on a shorter run in Forex.

      But for a complete beginner to actually make their own profits consistently, They would have to make sure that they focus and learn for a long time. Practicing, Trading especially in the Demo account, Learning from Forex forums, are the ways that they can succeed in this business. This is not easy, It would need a lot of patience on the side of a trader Newbie. FOREX IS A LONG TERM BUSINESS.


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      Beginner should first learn about Forex, demo practice, try to get good experience, get good skills, get proper knowledge about world economy, proper analysis, follow good money management, control emotions, avoid greed, patience, discipline and properly follow all Forex rules before start real trading then you may success other wise not.
      Wish you best of luck. Thank you.


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      How can a complete beginner earn money from forex?
      This cannot be done or this can be done if the aspiring trader is lucky.

      It is not difficult to press buy/sell and later have the lucky possibility to close it later in profit. But to do so over and over, creating profits on average and on a consistent basis is not something that a new trader can or even will do. To even create something to withdraw my best suggestion is to open a demo account and trade journal, post about the journey and what happens. Doing this enables the bonus account to be traded with later, there the trader can withdraw profits as they are generated and the new trader does not have to worry about the overall profit. Just as a posted in a similar thread here on another question.

      The Symbiosis mashed up Trading Journal
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      Quote Originally Posted by fanatic View Post
      Most beginners who are completely new to forex always wants to know how they can earn money from the forex market. This may not be a challenging question at all to most experienced traders. Many beginners will be delighted to know from the experienced traders.
      In the forex market, we buy or sell currencies, in order to earn money (profit / profit) from price changes. From this point of view, forex trading activity is actually similar to the general financial market transactions, such as stocks. Therefore, if you already have experience in stock, you should not have difficulty in trading forex. Although, you also can still trade forex even though there is no experience at all in other investments.

      For example if we do 'buy' pair EUR / USD, meaning we buy Euro currency by selling US Dollar at the same time. In this case, we expect the Euro to strengthen to be higher in the future than it is now. And if that expectation really materializes, then the EUR / USD price chart will move up, and we can earn money from forex trading.

      Conversely, if we do 'sell' pair EUR / USD, meaning we sell the Euro currency by buying US Dollars at the same time. That's what we do when we expect the US dollar will strengthen than the euro in the future. If that happens, then the EUR / USD price chart will move down, and we can still earn money from forex trading even if the Euro exchange rate decreases.


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      It's possible for a beginner to trade profitably (earn) in/ on the Forex market, there is enough in the pool ( nearly $2 trillion worldwide currency exchange market) available to make everyone happy if the right principles are followed or diligently observed. However the odds may go against anyone if there is no adequate knowledge, good preparation, adequate planning and self control and discipline to follow the laid down plan to achieve a realistic goals or objectives. This suggests that self-education and caution are recommended. There are few approaches (but not limited) that may help a beginner to improve all odds of making a profit.
      Acquisition of Knowledge and Preparation
      Because the Forex market is highly leveraged -- as much as 2000 to 1 – one can be tempted to conclude that it has the same appeal as buying a lottery ticket: some small chance of making a killing. This, however, isn't trading; it's gambling, with the odds long against you.
      A better way of entering the Forex market is to learn all the rudiments or the basics of the market. Lays hands on enough materials (soft and hard copies) which have to do with fundamentals and technical analysis, forex trading strategies, Risks involved in forex and the management of it. Most of these are obtainable on the internet or even by visiting the site of forex brokers you can get educational materials even videos and webinars.
      After all these or while they are on then carefully prepare and begin with a practice account. This is helpful and risk-free. While you're trading in your practice account, read the most frequently recommended Forex trading books,make observations and create a trading journal where you have all the records of successes and failures for future references .These will help when it comes to live trading.
      The reality that forex is highly leveraged should makie a beginner to becareful when funding ,he should invest what he can afford to lose.
      Diversifying and Limiting Risks
      Two strategies that belong in every trader's arsenal are:
      -Diversification: Traders who execute many small trades, particularly in different markets where the correlation between markets is low, have a better chance of making a profit. Putting all your money in one big trade is always a bad idea.It is not a good way to manage risks
      -Familiarize yourself with ways guaranteeing a profit on an already profitable order, such as a trailing stop, and of limiting losses using stop and limit orders. These strategies and more are covered in the recommended books. Novice traders often make the mistake of concentrating on how to win; it's even more important to understand how to limit your losses.
      Patience
      Traders mostly, particularly beginners, are prone to getting nervous if a trade does not go their way immediately, or if the trade goes into a little profit they get itchy to pull the plug and walk away with a small profit that could have been a significant profit with little downside risk . Always bear it in mind that you are going to win some trades and lose others. The bottom line is to take satisfaction in the accumulation of a few more wins than losses. Over time, that could make trader rich!


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      The short answer is that no beginner will ever earn money in this business, in long term. period.

      But if we discuss why I think so, the reasons are pretty simple. When I started trading, I went quickly into the real money account, I started with 10 dollars and went all the way up to 200 but that all fun and great ride ended after 1,5 months when I just took too big risk, chased the market move when it was doing opposite and ended up losing all. At that point it was frustrating.

      So when you are a complete beginner, you have absolutely no idea how the market moves, why it moves and that is the main reason why no one will make money from market like that. With luck and gambling the great results will last maybe a month but sooner or later market will create a trap for you and you will be a victim.

      So as a beginner, dont think about making money yet. Work on knowledge, experience everything, do real money trading with small money, see how it goes, dont risk everything in one trade but keep the risk low, and then you will gain a lot of experience with that and then you are most likely to become good trader and see great results.


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      i suggest beginners to trade with low leverage and small lots , like that you will grow slowly (but if you lose , your loss are minimal) and to follow their positions and not let it on ALL THE DAY without any check
      i used to trade like that, and it's a way to get more experiences and knowledge. believe me, in Forex you can growth your money in few months but with PATIENCE, and why not to start with demo account where you can learn without taking any risks
      go ahead , if others can do it so you can do it too


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    19. #10
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      A beginner should learn from basic knowledge to advance knowledge. They really need knowledge at the first place. After that, they can try to improvise their skill in demo account. They need to train and develop good confidence in trading. Once they are skillful, they can trade in real account which is more challenging than demo account.


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