Best advice ever is gather knowledge, practice with patience, be discipline to have good trading plan.
Thank you for sharing your insights. You are a giver, you will receive more than you give.
Nice saying indeed.
Thanks for the advices guys.
trading in the lower timeframe is too tiring and its akin to scalpingā¦
yeah its quite tiring especially if you are trading manually,
however I have traded on H4 and D1 only and have no idea how it feels to make trades on the
lower TF.
My advice is to analyze market first before open any trade. Then make a plan to choose lot accordingly and clear it in mind how much pips will be safe for you to take profit or stop loss. I ever trade in low lot to avoid loss. After getting small profits come out of the market.
Market analysis prior to entry is a general prerequisite and so is risk management.
As stated in the first page, you should have pre-determined profit levels and its best to wait till your TP is hit.
Trading in fear isnāt the best thing as you will will easily fall into instinctive reaction.
This article should help: [Why We Close Winning Trades Early | Forex Trading Psychology](Why We Close Winning Trades Early | Forex Trading Psychology
trades-early/)
Grix
you can see that in your metatrader, make it daily so that you can see the differenceā¦
Hey guys,
As I was browsing through the Forums, I came across this and I will include it as part of what every new trader needs to know:
"" "It does take some time to study it and get used to it. I feel that your biggest problem is that you want success now, you canāt have it. The market requires you to put in some serious brain time before it will reward you, you did not become a professional rugby player the first time you picked up the ball, you had to work at it and still do every day. Trading is just like that it takes time and devotion, there are no shortcuts. Nobody ever became a millionaire by borrowing a system or attending some class. Becoming a millionaire in trading takes time, devotion, dilligence and patience. You will get knocked down a few times and will need to dust yourself off. At the end trading will reward those that appreciate it and have learned its nuances. Pick a strategy and practise, practise, practise. An old hand I know told me it would take 10,000 hours of practise to know a strategy, he was not wrong.
Stick to a strategy and start learning, every strategy can be made profitable as long as it works for you, not anyone else, just you. Start reading some books too about technical analysis, there are lots of them written about equities and they work just as well.>>""
This should answer alot.
Grix
Hi, some broker have bonus when funding account. Is it cheating? Or it is a market marker?
New traders can learn a lot from this thread alone! They are all good rules to live by and each one can fit well with anyoneās trading strategy.
wow, thanks a lot!
Iāll definitely tru to keep it all in mind when I actually start trading.
at the moment just trying to absorb as much info as I can.
The best luck to you all!
Good to see new guys reading the postā¦some of us are old dogs, but we follow the advice to the letter!