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  1. #11
    ForexExchangeGuides is offline Junior Member
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    Jul 2009
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    Post

    hi,

    forex trading is good to make money fast. but the most important is refer to expert person to guide you. another things is find out about forex trading. there are a lots of book about forex in the market.

    make some research first. that is your first step. be sure all the things is very important for newbee in forex business.

    regards,

  2. #12
    Jenforex is offline Senior Member
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    Quote Originally Posted by martha_fx View Post
    That is true. The one of the many advantages of trading in the forex market is that you are in charge of your money and how it is handle, some newbies don’t realize that you have to study the market and they are responsible for their own decisions, I think that is why so many people failed at the beginning, don’t you think?
    Hi,

    yup! you are correct in this. Initial leaning ad training are very important in successful trading career.

    Regards

  3. #13
    daniellefr is offline Senior Member
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    Quote Originally Posted by ForexExchangeGuides View Post

    forex trading is good to make money fast.
    I think this is the first mistake a trader can make - consider forex a fast making cash mashine. Forex is not a jackpot in the casino. You don't make fast and easy cash trading. It is all about securing your funds and making consistant profits.

    If you want to be successful, change "fast" to "great profits in the long run" concept.

  4. #14
    Jenforex is offline Senior Member
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    She is right! Don't think that the more indicators and patterns you use the more profitable you will be. My trading strategies are simple BUT original. I learned through time that the true gems in the market originate from simplicity. This is an important concept, don’t dismiss it.

  5. #15
    daniellefr is offline Senior Member
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    Exactly, Jen. Mixing all indicators available won't make you any closer to success. It is all about understanding and FEELING forex market. On top of following your plan, you have to be flexible to changes.

  6. #16
    ForexExchangeGuides is offline Junior Member
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    Smile

    Hi friends,

    What is your plan now? Do you have strong strategies to trade in Forex? Don't to be rush to make fast money. Plan and make research first!

    Regards,

  7. #17
    Jenforex is offline Senior Member
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    Hi there,

    Your psychological state of mind is more important than your dollars. Yes, that is correct. For example, entering a trade when you know you should not enter it and ultimately losing money on it will cause you a financial loss which hurts but can be recovered in the next trade or two. However, it will also cause you a psychological loss in the form of future fear and insecurity. This, will take more than one or two trades to recover!

    Think, analyze, and create BEFORE the trade. During the trade only follow what you though, analyzed and created before the trade. Before you enter the trade you are cool and balanced, you are thinking logically. During the trade you are under fire since money is involved. You are under pressure. What makes you think that you can make better decisions under intense fire then when you are calm and balanced? You can't. That is why you planned the trade before hand. Follow your plan!

  8. #18
    mathew is offline Junior Member
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    Mar 2010
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    1. Your psychological state of mind is more important than your dollars. Yes, that is correct. For example, entering a trade when you know you should not enter it and ultimately losing money on it will cause you a financial loss which hurts but can be recovered in the next trade or two. However, it will also cause you a psychological loss in the form of future fear and insecurity. This, will take more than one or two trades to recover!

    2. Don't ever try to pick absolute tops and bottoms. I know of traders that have an addiction with this. They always look to pick the absolute bottom or top and ride the market on the reversal. They succeed one or twice but eventually suffer a big hit. If you can't help it and you want to try and look for those huge turning points in the market at least use some sort of confirmation. Don't just guess "this is the top" or "this is the bottom".
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  9. #19
    ckfeng is offline Junior Member
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    Default gfdgd

    very good and useful Resources ,I know a lot from here
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  10. #20
    jacob is offline Junior Member
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    It has been just a few days i have started trading, and i am looking forward to inculcate all the tips that you guys have posted here for newbie forex traders like me.
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