A mature advise to beginners

jhoinsmath · Oct 24, 2009

You may have found that most of the new traders in fx market seems to have luckiness with them. Their first deals always bring them good profits. This luckiness, however, disappears after a short period of time. Some of they start to lose money, or even leave the market finally.

What is the reason for the so called "beginner's luck"? Why it is not long-lasting? How to gain real luckiness in fx market?

oildaytrader · Oct 24, 2009

jhoinsmath said:
You may have found that most of the new traders in fx market seems to have luckiness with them. Their first deals always bring them good profits. This luckiness, however, disappears after a short period of time. Some of they start to lose money, or even leave the market finally.

What is the reason for the so called "beginner's luck"? Why it is not long-lasting? How to gain real luckiness in fx market?

Test your strategies on backtesters provided free by metatrader.If they are profitable over 8 to 10 years on backtesting, with low drawdowns and consistency, then forward test them for at least 6 months.

If your trading strategies work consistently for six months on demo, try a small live account.

Read books and threads about forex trading and what moves forex prices.

jhoinsmath · Oct 24, 2009

are you prefer any book for beginners?

oildaytrader · Oct 24, 2009

jhoinsmath said:
are you prefer any book for beginners?

Read this thread and follow the links .

http://www.trade2win.com/boards/forex-news-analysis/76816-gbp-fundamental-technical-anylysis.html

There is also a thread on Aud/jpy worth reading .

http://www.trade2win.com/boards/forex-discussion/76330-audjpy-ready-pop.html

http://www.scotiafx.com/Chart_Feed/fxout.pdf

A mature advise to beginners

jhoinsmath

Newbie

oildaytrader

Senior member

jhoinsmath

Newbie

oildaytrader

Senior member

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