Any forex trading tips for beginners? Please drop tips for we newbies. Thanks
Don’t trade with so much selfishness!!
If you're trading with ft9ja, ensure to trade concerning their trading rules. Try and be consistent while trading because hard work yield result(profit). Don't trade thinking it's by luck, instead trade strategically.
After doing all these things. In these markets once you place that trade and you start seeing your equity go up and down it can scatter all these good advices here so I'll add......BE PATIENT!!!!!
Get a great mentor
In addition to what the pros have given, I'll say cut your losses and let your profits run. Don’t be tempted to take profit as soon as it appears, or be afraid of making a loss. Follow your trading strategy, and implement risk-management conditions to remove emotion from your trading.
Again, I'll say you have to Understand the markets for both currencies: have an understanding of both currencies you are trading as part of the currency pair. Be aware of the main macro-environmental forces that could affect the markets you’re exposed to.
Choose the best trading partner for you: a reliable trading platform, customer service and consistent spreads are some of the important factors which help to determine your overall trading experience. In a nutshell, choose Ft9ja to avoid stress
For me, I'll say Stick to your trading plan: following a trading plan will help you to take emotion out of your trades, and predetermine your entry and exit strategies. This structured way to trade markets can help to keep trades consistent and emotions at bay.
Hmmm I'll advice the beginners to Test, evaluate and try again. Trading is about evaluation after each trade, in order to analyse what worked and what didn’t. When trading as a beginner, you will need time to develop a good trading mentality and understand that your trading psychology is a work in progress.