What is the most important thing a beginer should learn ??

[Inquisitor]

What is the most important thing a beginner should learn ??

Protection of capital is the only thing that is essential to learn and all else is of secondary importance. Anything associated with trading that can adversely affect this needs to be worked on and minimized in my view.

 

[Farm Yard Forex]

100% agree! Confusing capital protection with trying to not have losing trades is common and not the same thing as one is attainable and the other total fiction. Capital preservation needs to be at the forefront of any trader's mind when entering the market. A focus on what you stand to lose is a must.

 

[Melodiousmelody]

· Learn emotional control because being too greedy or hopeful can ruin your trading career.

Yeah right!
Emotions play a huge role while trading and that's why it's important to learn how to control your emotions while placing trades.

 

[sharabela]

The first thing a beginner should learn is trading is the 2nd riskiest business in the world after coal mining. He should also know that 90% traders lose their money in this market. With these two learning, he should also be aware of the fact that Forex market can be a great source of making money.

 

[PipjappBevy]

I think all new traders must avoid ‘overtrading’, which of course comes from the emotional turmoil that traders go through. A trader overtrades because of sudden profits or losses, and in both cases, there is a good chance that the trader would lose money.

 

[ElliotM]

Risk and time management, those are really important, Economics and Statistics, Math and you should have a lot of luck

 

[K.Stanley]

Controlling your emotions at the earliest stage would be the best course of action, that way, you do not have to handle the difficulties in trading in later stage.

 

[LuckyMac]

Take it slowly and learn piece by piece. Learn a strategy first with demo and backtesting then once done go onto psychology dont try and do things too quickly and all at once

 

[Flink]

The beginning of anything is tough and forex trading won’t be any different. The first few weeks or months in forex trading are about survival. If you are able to manage your losses, then you can take a step ahead and start thinking about making profits. Initially, you should risk a small amount and concentrate on one trade at a time. In case, you are on a losing streak, take a break, clear your mind, redesign your strategies and then, return to trading.

 

[K.Stanley]

Simple yet very crucial tip. Emotions can play spoilsport in trading, so I completely agree with you on the fact that beginners should learn to control their emotions at an early stage to have a better future in trading.

Absolutely true

 

[peto]

You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done
Every trader knows
That the secret to survivin'
Is knowin' what to throw away
And knowin' what to keep
'Cause every hand's a winner
And every hand's a loser
And the best that you can hope for
Is to die in your sleep"

Thanks to Kenny Rogers

 

[J Livermore]

You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done
Every trader knows
That the secret to survivin'
Is knowin' what to throw away
And knowin' what to keep
'Cause every hand's a winner
And every hand's a loser
And the best that you can hope for
Is to die in your sleep"

Thanks to Kenny Rogers

Hi peto,


How’s your trading coming along? It’s been awhile since we posted.

Have any of the ideas I suggested a few months back been of any help?

I’m hoping you’ve had some profits in your trading.


Take care.

 

[peto]

Hi peto,


How’s your trading coming along? It’s been awhile since we posted.

Have any of the ideas I suggested a few months back been of any help?

I’m hoping you’ve had some profits in your trading.


Take care.

I suspect the best I can hope for is to die in my sleep, JL. Gone back to the demo platform for now as it is better for my bank balance.

 

[J Livermore]

I suspect the best I can hope for is to die in my sleep, JL. Gone back to the demo platform for now as it is better for my bank balance.

Sorry to hear about your trading losses. If you don’t mind me asking, were the losses because of what happened previously or did you encounter new difficulties?

I hope you are trading small amounts of money and not something that would affect your lifestyle.