What's one practical tip you have for beginners?

Your posts always make sense, whatever thread. Thank you for them. :wink:

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Ultimately RISK MANAGEMENT is the only thing we can control.

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First thing I lock in? Emotional control and risk management, no point trading if your head ain’t right.

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I agree, risk management and controlling the emotions is the first thing any trader should look into.

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Small details will make a difference! Try to remain objective as much as you can, don’t try to involve hope. Don’t place trades just from fear, hope.

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If you’re just starting out, keep it simple and focus on learning first. It’s easy to get overwhelmed by all the strategies, indicators, and market noise. Pick one approach, test it, and understand why it works before jumping to the next thing.

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100%! Trading needs logic, not emotions.

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You share that belief with every experienced or successful trader I’ve ever known.

And with everyone who’s ever worked for a broker, obviously.

It was a good thread, when it started. It could have helped people.

Unfortunately the fact that 4 of the last 5 posts above this one were made by bots has devalued it hugely, and turned it into yet another “normal Babypips thread”. Always a shame, when that happens. So easily correctable, you’d think? But apparently not. The forum deserves better.

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90 Year Old Millionaire Trader Shares His Biggest Mistakes

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Watch Me Trade $10 to $15 000 In Exactly 3 Hours Using This Strategy For Growing Small Forex Account

:point_up: One of my greatest errors was consuming material like this and thinking I could achieve the same results. Regardless if it’s true or not, I needed to understand that I am not him and he is not me. I had to develop my own strategy and carve out my own niche.

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Develop your own strategy, trust your intuition
DONT demo trade, use real money, but trade really small amounts
And trade, trade, trade
Trading rewards the experienced and takes money from the inexperienced
So get experience, as quickly and as much as you can by trading real money
Trial and error till you find something that works
You will lose money, it’s okay, because you will learn from the pain

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Oh, and this worked for me. Start with a really small account, like $100
Try to build it with small trades. If you haven’t blown the account after a month, then add another $100
Keep adding $100 monthly
Or even better, add $100 every time you grow the account by 10%
Raise your lot sizes as your account grows
The experience I gained from doing this was immeasurable, worth far more than any friggin demo account
You will blow an account, maybe many, but you only lost $100 and you will gain a treasure load of practical experience, confidence and discipline
And who knows, maybe you’ll grow the account into something really significant

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Not even after a streak of a million wins think your next trade will certainly hit TP, this can make you quit trading!

Great tip. Mine would be: Stick to risk management—protecting your capital is just as important as making profits!

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Not quite.

You also lost the opportunity to learn anything much, because “starting hugely underfunded” prevented that. :unamused:

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Start young and try every strategy and every variable of that and each strategy until ( 15 years later ) you are about 80 percent right .
A good memory is a must avoid alcohol like the plague

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It’s funny: you almost never see people in forums mentioning this at all, but it’s so obviously true! :sunglasses:

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Don’t learn to trade alone - interact with people! :slight_smile:

Keep a detailed Journal AND…Reread it often

I got a hold of some social media influencer FX accounts to see how they make money doing 1:3 type of trades… every one of them actually averages 0.6-0.8:1… Very different than they preach.

My biggest tip: Question everything.

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