Hello I’m Deborah. I am here to master the market and double my account! lets get this bread!!!
Welcome to the community. Excited to see you getting started.
Welcome to the trading world. Its good to see your excitement. Just a couple of tips which would help you to begin from the correct note
1. Always understand the market: For a newbie markets can behave like a giant puzzle. So the first and foremost thing is to understand the complete picture. Educate yourself with all the basic terminologies like, spreads, candlesticks, pips, buy, sell, instruments, forex pairs, stocks etc. Then work on the the factors who contribute to change in the markets. You can use economic calendars to understand their significance.
2. Select a good broker: No matter how much perfect you are with your knowledge, a bad broker will never let you succeed. So always search for a regulated ecn broker. The trading environment might be limited as compared to a unregulated broker, but your profits will be entirely yours as their would be no manipulation.
3. Never Skip demo trading: Playing around with demo before actually entering the live market with your hard earned money is very important. You should first explore the market movements, its habits, patterns, reaction etc on a demo set up and then test them on live. Most importantly, trading on demo will give you an idea where you stand and whether you should proceed with live or continue to practice more.
4. Never ever let greediness over power your actions: We understand you are trading to gain loads and loads of profits, but just like roses comes with thorns, profits comes with losses. You cannot always gain from every trade, you should accept the fact that losses will be a part of your trading journey. No one can build up their account in one day, it requires continues work and only with experience you gain confidence.
I hope these tips will help you to formulate a correct strategy to begin your trading journey.
Hi and good luck
Thank you so much, appreciate it!
Hello and Welcome. Wish you have an amazing trading journey
Hi, Welcome to the community.
Keep your spirits high and Good luck.