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Forex Mistakes That Newbies Make


princewahaj

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Maybe many newbie they only thinking about earning without making good preparation in demo account, althpugh using small capital but if always waste money hence will loss huge money if calculated, so I think will become good preparation if newbie spent time in demo account  until they really understand how to trade in this arena

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  • 5 years later...

I think that before entering the market, you need to study all the information about the market, trading, brokers. It was hard for me as newbie to choose the right broker. I searched a lot of sites in order to find something good. I also spent a lot of time looking for a broker and accidentally found this site Finarm, which has a whole bunch of different companies listed. It's pretty convenient and can give you some insights.

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On 1/27/2022 at 1:02 AM, Vaabum said:

In order not to make mistakes during the first steps in trading, you need to work on a demo account. At least, when I started working with a broker from ExpertOption, I did it that way.

I have been doing my Forex Trading with FXOpen Markets from the last 10 Years and they are very Reliable and Trustable International Forex Brokers :D

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On 2/9/2022 at 3:43 PM, Vaabum said:

For a beginner, it is important to take the time to learn. At least when I started using the ExpertOption broker for work, I used a demo account for training.

I agree that learning should be the very first step, and practicing on a demo account is a good following action. I think the most frequent mistake newbies make is going into trading uneducated and make avoidable losses with real money.

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Newcomers to the foreign exchange market often treat Forex trading like a game of chance. Opening a trade in the right direction is not the same as placing a winning bet. By using his intuition, a trader can make a quick profit. The only thing that guarantees a steady income on the exchange is your own trading strategy.

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1 hour ago, Vaabum said:

In order not to make such mistakes for a beginner, it is worth paying enough attention to training. When I started working with a broker from ExpertOption, I started with a demo account.

We all tend to make some or the other mistakes in our trades and we have to correct them.

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