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    Thread: What is the most important thing that should be followed by a new Forex trader?

    1. #41
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      Novices have to read Forex trading related books and topics those are written in the forum by wise traders. Many e-books are available in websites also. So, learning at first; then practice adequately in demo account until consistent success. There is no alternative to practice. I think; success is consequent upon hard work, experience and skill.

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      i think that a new trader should try to follow all the rules and regulations to trade in this forex market first, and then it is also important for him that he never trade directly in real account and try to join demo account first and then do proper practice of trading and get some skills first which he can use later in his real account.

    4. #43
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      Everyone has been a beginner in forex, the thing that distinguishes them until now is the endless effort. Joining a group, or being a member of a forum and following some seminars about forex is an easy way to do and many other ways.
      If you want to succeed in forex, there is no other way than to be experienced and have a high sense of discipline, and both of these we can get if we are intent and serious while studying forex.
      If You want to know your future,
      look at what you're doing at this moment..

    5. #44
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      A new comer can get clear knowledge by learning and if you are very new then you should open a practice demo account for learning practically. Firstly you need to get the basic idea about Forex and there are many website that teaches about Forex like Babypips. After you have a clear concept about Forex then you should open a real account for more practicing.

    6. #45
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      A new traders important rules is to learn well about trading before placing any trade. Essential learning is such as fundamental and technical analysis. Another issue is money management. So if any new trader follow those all steps and do some demo trading practice for at least three months then he will be able to earn profit & in time to time his trading policy will get improve.

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      A new forex trader should have a good knowledge on technical and fundamental analysis, should incorporate this knowledge into a trading plan, and stick to using it. Most times, new traders are carried away by the opinion of other traders and they tend to make trades based on other people's ideas. This is wrong, as a trader, you need to be your own boss, as no one has the same perspective as you, you need to come up with a good and profitable trading plan and you need to maintain it.

    8. #47
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      I think that the new traders should still stick to the instruction of their teacher, and also learn more by themselves. They need to work more on their trading psychology and management among all other things, because the market is a risky and a dangerous one. The new traders have to limit the risk they are taking per trade, and make sure they make the stop loss their tight friend as they trade.

    9. #48
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      Hello my dear, and i want to say a big welcome to this great business that you will never live to regret if you can follow the right people here and follow the right trading principles of the business. First let me tell you that irrespective of any negative information that you might have heard about the forex market, till date it is still one of the best business and one of the most lucrative that anyone can be involved in and i can tell you that you will enjoy your stay here provided you are discipline and know what you are here for as a trader. To your question, i will give you one simple suggestion, and this is my suggestion, get in contact with one good trader who is a success in this business and let him mentor you, or get into a very good trading group where ideas can be shared and do not forget to read and practice with the demo always.

    10. #49
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      The most important subject of the forex trade is news and impact. Before opening your trade you must have to the news and it's impact. You also have to see the market position before opening trade. If you can follow these two things then you will not get loss and must get some profit. you can get news and impact from "forex factory.com".

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    12. #50
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      One of the important things a trader really need to be very cautious about is greediness. You know the word greediness is very wide than we think. Greediness can cause so many things in the market. Being greedy can cause over trading, greediness can bring fear to a trader. And being greedy can make a trader to loose their trading account and so on

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