What should newbies stop doing in order to succeed in forex? [We now have our forum giveaway winners!] 🎉

Im doing that now =(

Thanks for this I laughed out loud, but I tried this, it didn’t work for me, not on demo site anyway.

This is true, i always thought trading on more pairs means making more money, i was so eager to create fortune just in a day, but later I learned that its not possible at all without experience. I was an idiot…

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Thanks a lot for your nice pieces of advice

This is very insightful. I’m a total n00b but I shall take this lesson to heart, thank you.

Wish I had a dime for every time I read some version of “Hi guys! I’m new… Soooo, could someone tell me a strategy that’ll get me a bazillion pips?”

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This is it in a nutshell

yes be strong single minded,persevere, find your path, don’t take notice of people on here.

What they should not do is think
“How long is it going to take to make money at trading?”

The route to financial freedom is a path we all walk and the path is different for all of us. You may take the wrong sidetrack for a while, but get back on the path!!!Talk to other traders, and immerse yourself in their challenges. Your challenges will be very similar.

Think of this as a challenge and a journey where you will learn much about yourself as well as about trading!! Patience with yourself and definately with your partner!!! :wink:

I am not writing this to be considered for a prize!!! or anything. Just only my thoughts!

Most of all you do not need luck!!

May the pips be with you!

Crash101

Jahruhay,

Good to see. This is the way. Cycles and phases, Support and resistance, price action and psychology. You are well on your way to becoming proffitable!!.. You have seen the light!!

Awesome!!!

A lot of wisdom here. For what it’s worth, I hope you keep posting. I believe this site would be diminished if you didn’t.

newbie here , so what is NFP?

Non Farm Payrolls

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that’s a handful , definitely way over my head.

Stick to the plan/risk management

Stop over trading

Be patient

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The best thing I can suggest to newbies is to stop running behind money in the forex market because if you keep doing that, you may not be able to actually make any money. You must try to control your emotions and don’t let them play an important role in your trades. Analyse the market properly before you take any step.

May I ask you how?

Newbies should always strive for new knowledge and practice a lot. These are the main features of successful traders I guess. If you want to reach success in tradingm then you should dedicate enough time to trading and practice a lot. I believe that practicing matters much more rather than learning theory. Theory is just a real foundation for traders, but the main knowledge comes with practice. I whs all beginners would know these rules in order to defend themselves from various unpleasant situations. So, if you are rookie, remember these rules and always try to follow them in order to gain money and experience.

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Great post, I appreciate the
wisdom!!

Trading in the forex market can trigger different overwhelming emotions like greed, anger, anxiety, or even fear. Failing to keep your emotions under control, you won’t be able to make good trading decisions, leading to losses. And as Warren Buffett once said: “If you cannot control your emotions, you can’t control your money.” It’s better to start with a “Demo” or “CENT” account in order to develop good forex risk management habits.

Listed below are some helpful details about the Forex CENT account from Babypips. Which Forex account is best for Low Capital Investment? - Beginner Questions - BabyPips.com Forum