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Good day, dear guests and readers of our site. Today we will analyze the advice of experienced traders, which can be useful for novice Forex adherents.

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Again, do not take my words at face value, because my words are just a reflection of my subjective opinion. I just recommend that you take these tips into account and draw your own conclusions.

But what conclusions you draw - it's up to you to decide. But, I hope the presented material will be useful to you!

BE PATIENT IN A PROFITABLE POSITION AND IMPATIENT IN A LOSSING POSITION

If to speak plain language, the old rule works in this council, which says that profits should be allowed to grow, and losses should be cut. In practice, traders often act differently.

At the sight of a small profit, they quickly cover the deal, but when they suffer losses, they stubbornly delay the stop in the hope that the market will reverse. Regarding the early closing of a profitable transaction ... There is a saying that says that a bird in the hand is better than a crane in the sky, that is, morality and advice from the successful at the same time - do not be greedy.

And you know, sometimes you get really lucky, and the price reverses sharply. The trader is satisfied, it seems to be an oil painting, but, in fact, it is even worse. This gives the trader the wrong feeling that he was right! In general, this approach is wrong, and one day it will lead to big losses.

And here, in fact, is the rephrased advice of successful traders ... If the transaction is unprofitable, then it is unprofitable and you just have to put up with it. Don't forget that losses are part of trading!

DON'T COMPlicate TRADING

Many people think that trading is very difficult, and only sophisticated trading methods work here. It seems that only a doctor of mathematical sciences, or some seasoned economist, can become successful here.

But no, to be successful in the market, you do not need to have a specialized education, because from a technical point of view, the market is not as complicated as it might seem at first glance.

The main difficulty of trading is in psychology. And I will offer you to be inspired by an article in which main character: , he has psychology in the first place in trading. Trading is a business, first of all a business, and the relevant laws work here. This is not an everyday job, in this area everything is different. This is a special game, and you either accept the rules of this game or not - everything is very simple.

Your trading should not be complicated, it should be simple, understandable and logical. No need to use extremely complex methods of analysis, use what you like.

CONCLUSIONS

These are the tips of successful traders! I think that novice traders will not immediately take them seriously or understand. But, I assure you, with experience everything will come. Trading is the place where experience matters a lot. Here you need to constantly improve, work on yourself in order to get the desired result.

According to experts, in 2018 the value of many cryptocurrencies may double, and the demand for them will increase several times. So, according to a recent study by the venture capital company Blockchain Capital, about 30% of millennials aged 18 to 34 are more likely to invest in bitcoin than in traditional ones. securities. If you are one of the potential investors in crypto, then we advise you to read the 50 tips shared by trader Chris Dunn, who has been investing in cryptocurrencies for the past five years.

Everyone considers themselves a genius in a bull market. However, real traders not only survive, but also thrive in bear market conditions and high volatility in cryptocurrencies.

Don't be a blind bull. ALL markets are cyclical. Do not be afraid of pullbacks and market crashes - at these moments you can get the most profit.

There is a huge difference between trading and investing in cryptocurrencies.

Completely think through your trading plan before you enter the game.

Entry points are certainly important, however risk and money management is where you will lose or make the biggest profits.

Beware of gurus and experts offering instant money schemes.

Make a plan and follow it, ignoring the rest of the noise.

Do not assume that if you have managed to make a lot of money in crypto, then you can just as well enter other financial markets. Over 95% of traders stock exchanges LOSE money. Believe me, this is a contractual game and it is being manipulated. Stick to what works for you.

The best way to intraday trade cryptocurrencies - THERE IS NO ONE!

The best way to make money in any market is to invest in early stages into projects that you think have great potential before the general population realizes it. Invest knowing that you can lose 100% of your capital. Such an investor is called a business angel.

The market is not under your control. The only things you can control are the entry and exit points and the volume of trades.

One player in the market can completely break "great technical analysis".

You should not blindly follow the signals, especially if they come from people you don't know on social networks or instant messengers.

All financial network marketing projects are pyramid schemes, period.

If you've made a huge life-changing amount of money, do NOTHING for the next 30 days.

Trading is not about entering at the low, but exiting at the high, but about catching the right direction of the trend.

Don't turn a small trading loss into a huge investment loss.

Don't put daily targets profitability, better focus on long-term performance indicators in achieving your goals.

First understand how to survive, and only then - how to succeed.

The best indicators in charts are price movement and volume. You can use others, but there is no guarantee that they will make you a more successful trader.

Trends can go far beyond what seems rational.

Don't try to find the market high. Until the market shows you that the trend is over.

Do not trade in anticipation of big and important news - it is impossible to predict the reaction of the market.

In most cases, the key issue for a trader is his or her ego, or the need to always be right.

You can lose half of your investment and still make a profit if you manage your risks properly.

The best entrepreneurs and leaders usually make poor traders and investors.

The people who are most likely to be successful in investing tend to work in professions related to high level risks, such as piloting, firefighting, or the police.

Beware of bands like the plague they are.

You MUST step on all the rakes. Don't judge yourself harshly when this happens, but try not to repeat your mistakes again.

Do not treat crypto exchanges like banks where you have an account. You will not be a coin holder until you have a private key.

The crypto market operates 24 hours a day, seven days a week, 365 days a year. It's impossible to catch every trend, so if you miss one, don't worry, there will ALWAYS be another.

Do not invest in a coin that you have not studied thoroughly.

You can seize the moment and make money trading Shitcoin ( A coin that has a low capitalization and unclear prospects. -DeCenter), but it is not worth investing in it in the long term.

Beware of coins with low trading volume and market capitalization. They are easy to manipulate.

Don't trade with the money you need to live. It's called "speculative capital" for a reason.

Pretend you're a hunter - save your ammo for the big game.

With very high volatility in cryptocurrencies, many exchanges go down, especially if the price reaches a certain milestone, so it makes sense to place buy orders EARLY.

Trading and investing will make you feel fear, greed, insecurity and doubt.

The hardest thing about trading is doing nothing. However, in some cases this is the surest step.

Just because the market is in a "bubble" does not mean that it will die. Bitcoin, for example, went through half a dozen big bubbles and rose in price each time.

Manage your trades so that you have no regrets, no matter how the market behaves.

Get used to thinking like a nihilist and an opposite investor. If you are one of those who constantly need to prove their point of view and get the approval of others, then investing and trading is not for you.

The smaller the timeframe of a chart, the less reliable its charts are. The larger the timeframe, the more variables affect the price movement and the more difficult it is to predict its value. Personally, I prefer the daily chart for trading setups and the hourly charts for entries.

Under some conditions, the markets provide an excellent opportunity to form many setups, but under other conditions, it is sometimes worth letting everything go on the brakes and completely move away from a particular market.

More than 90% of the quotes of all cryptocurrencies will eventually slide to zero. Keep this in mind when investing.

The psychological aspect of trading is the most difficult to master, this skill is not appreciated by anyone, but it will play a key role in big wins and losses.

The three key problems that traders face are over-trading, pre-entry hesitation, and early exits before reaching their goals.

You can earn a decent amount of money in a single trade or in a year of diligent trading. Don't expect every day to end on a positive note. Play the long game, be patient and wait for better days.

Do not trust anyone in trading except yourself. Manage your investments yourself even at high risks or don't participate at all.

Take all news as such - just news. Publications need views and high click-through rates. They do not care about your interests and they have no goal to help you earn.

So you novice trader and want to succeed in Forex. I will take the liberty of giving you some advice from my personal experience(I have been trading forex for over 6 years)

Secure yourself a stable income before you start trading

This advice is the best help for a novice trader. Practice shows that if the unemployed come to the Forex market, they lose their money very quickly. Let me explain why this is happening. An unemployed person needs to receive a certain amount at the end of the month to pay for housing and communal services, food expenses, etc. The profession of a trader does not imply a stable income every month - very strong fluctuations in profitability are possible.

Let's look at a real situation that occurs all the time.

For the first month, the trader received a loss of 10%, for the second month he made a profit of 30%. In total, we get a profit of 20% for 2 months. The average return will be 10% per month.

Now imagine the state of an unemployed person who loses 10% of the deposit per month and at the same time he needs to withdraw profit (which is not) to pay for his current expenses! What will he do? He will take risks beyond measure, will break his trading rules just to make a profit. All this ends very sadly.

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find out
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Conclusion:

If you are unemployed (or a student) be sure to find yourself a job, at least part-time. What would not twitch and calmly engage in trading.

Train on a demo (demo) account

For beginner Forex traders It is very important to practice on a demo account for at least a few weeks before switching to real money trading. It may seem tedious and not very interesting… A demo account is necessary for honing your trading skills and mastering the functionality of the trading terminal. Once you feel confident, move on to real trading.

You will be interested to read.
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Read books, articles, blogs

In any business, in order to succeed, it is necessary to have a good THEORETICAL base.

Read everything you can get your hands on. There is a lot of literature on Forex trading and at first it will not be easy to understand everything. Lots of dubious books. Only by accumulating your personal baggage of knowledge, you will learn to distinguish worthwhile things from information rubbish.

Read about
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Avoid Forex forums and social networks

The advice may seem strange, but if you think a little, then everything becomes clear. Beginner Traders Forum This is a scam and a waste of time. What do people do on Forex forums? They are:

- communicate

- PR

- swear (find out the relationship)

A forum, as such, is not intended to provide new knowledge. On the forum, of course, you can find useful information, but you will have to look for it in a bunch of flood, flame and showdown. I know people who spend almost half their lives on forums. They have many thousands of messages. Among them, I almost never met successful traders.

There is one more subtlety. Professionals prefer to keep their blogs instead of chatting on forums. I can't speak for everyone, I can speak for myself.

When I tried to raise interesting topics on the forums, share trading strategies, lay out deals, a bunch of envious people or just bad people almost always ran up and started to ruin good undertakings. One negative comment can ruin your mood for the whole day.

Unlike a forum - a blog - I am my own boss. Very easy to get organized.

Read about and make money on it.
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Divide your trading capital into several parts

Another common novice trader's mistake– when opening a trading deposit, a trader transfers all his money there. I myself once fell victim to this mistake. The fact is that a trader, most often, loses his first trading deposit. This is absolutely normal. If everything novice traders only won, then who would then work in factories and offices ???

In order to earn a stable income, you must become a professional trader, and you have to pay money for this (pay a teacher or Forex itself, because Forex is also a teacher).

It is necessary to divide your trading capital into parts in order to have money in any situation to continue trading.

Traders are of two types - those who have money to continue trading (which means there is a chance of earning), and those who do not have this money (no chance of earning).

Recommend article
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When opening a trade, it is important to determine the loss fixation point in advance

I remember how one of my students was indignant after this phrase. He said that he “came to Forex to earn”, and not to lose money.

I explained to him - in order to make money, you need to have this very money on a trading deposit. In order to have money on the trading deposit, it is important to ensure that no transaction becomes fatal for us. That is, it is important to ensure that we do not go bankrupt due to one transaction that “went the wrong way.” That is, we must fix losses in time, moreover, we must know in advance the fixation point of possible losses and place our stop losses there. If the price goes up, then everything is fine. If it goes “not there”, we fix the loss. Yes, it is unpleasant, but it is better to lose part of the deposit and keep the opportunity to make transactions in the future than to lose everything in one single transaction!!!

You may be interested.
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Watch the market. Try to find patterns in price movements

Very important advice to a novice trader. Most beginners are desperately trying to guess “where the price will go”. Don't try to guess, DO OBSERVE the price. Over time, you will see that price movements follow certain patterns. The price over and over again draws certain figures (price patterns). It is especially good to watch the price when you have no open trades. The fact is that with open trading positions, you are interested in the price movement in the direction you need. That is, it is difficult to remain open-minded. But when you do not have open deals and you look at the market calmly and without prejudice.

It will be useful for you to read the article.
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Do not try to guess the top or bottom catch the middle of a trading trend

Many newbie traders trying to catch the top or bottom of the market. The logic is clear - if we buy at the very bottom of the market, then we will take the entire price movement. If we buy (sell) in the middle of a price movement, we will take only a small part of it.

The truth of FOREX trading is that it is almost impossible to catch the top (bottom) of the market. And whoever tries to catch extremes quickly goes bankrupt. At least if I could catch the tops and bottoms of the market, I would have become the best trader in the world long ago.

Traders usually make money in the middle of a formed move. That is, a bet is made on the fact that the movement that has begun will develop in the same direction (at least for some time). This question is beyond the scope of the article, but I will definitely consider it later.

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Read part two beginner trader (2 hours)
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All the best and thank you for your attention, regards Arthur.
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P.S. Perhaps you will be interested
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1. accept the opportunityown funds as an inevitable fact. The basic rule in currency trading is that profits exceed losses. Toevery novice trader must understand that losing trades are an integral part of trading and no one is immune from losses in the foreign exchange market.

2. Participatein bidding only with a clearly defined plan. When starting trading, you should determine how much of your own money you are willing to risk and how much profit you expect. This will be your risk/return ratio. Successful traders never enter a trade without a clear idea of ​​their goal.

3. Don't be afraidforeign exchange market. Many novice traders are overly concerned about the uncertainty and risks involved in forex market. Those who can overcome themselves are rewarded with a significant increase in their capital.

4. Responsibility for decisions made. Successful traders never abdicate personal responsibility. Only you enter the market and the responsibility for the transactions, both profitable and unprofitable, lies only with you.

5. Don't letgreed overcome you. When trading begins to take shape successfully, traders often forget about previously set goals, hoping for a further successful continuation. However, the market is highly volatile and trends can end quickly. As soon as the target price is reached, immediately take profits or increase the stop price to avoid losses.

6. Impact of news on trading. An increase in trading volume caused by some high-profile event leads to price movement sufficient for traders to use short-term and rapid change on the market. Inexperienced traders often strive for one trade per day, which promises them significant profits.

7. Don't be deluded. If a open position loses, then do not stay in the market in the hope that the trend will turn in the direction you need. Leave the market immediately.

8. Turn off emotions. The reason for the loss is often over-emotionality. Turn off emotions when conducting transactions. Steadily follow the set plan and do not forget to put stops.

9. The trend is your friend.Trade in the direction of the trend and your profits will rise.

1. Do not hurry .Beginning traders often open several trades and then find themselves unable to keep track of them all. In Forex, you can make a profit, both when the exchange rate rises and falls. You can successfully earn only on one pair of currencies. Therefore, focus first on one currency pair, and master the rest gradually.

2. Remember the stop order. A common cause of losses is improper money management (see Money Management). To prevent huge losses, be sure to use a stop order.

3. Trading system. Every trader has their own trading system which he tailor-made for himself. Some traders prefer the day trading system, others are attracted more long periods. The main thing is not to deviate from the planned trading plan. Several unsuccessful trades may not always indicate that your system is unprofitable.

4. Profit fixation. A common mistake novice traders make is early closing of profitable positions. Don't deviate from your trading plan. This will allow you not to lose potential profits.

5. Don't convertprofitable positions into unprofitable ones. Watch the market closely. Once positive values ​​are reached, set a stop at the market entry level. This will protect the funds. Then move the stop behind the trend so that the positions remain profitable for you.

6. Frequent entries.There is nothing wrong with frequent entries into the market, however, if used ineptly, you can quickly go bankrupt. The essence of the strategy is that the trader, with a negative value of the position, increases its size, assuming that the market will return to its previous state and all positions will be closed with a profit. However, if the exchange rate goes far from the previous level, then the losses will be huge, so it's better to just buy and hold.

7. advance planning. Do not enter the forex market just because of a sharp rise or fall in prices. Plan in advance how you will trade. Have a clear idea of ​​the entry point, profit-taking order quotes, and when to stop.

8. Don't lose capital. Earned money must be able to save. Close unprofitable positions quickly and hold profitable ones.

9. momentum and trend. Novice traders often do not even suspect that with the advent of new trend momentum grows. New traders create strong momentum when they join as the trend grows. total mass on the market. Trade when the momentum is in your favor. It will push your trades in the right direction and you will reach the profit-taking point even faster than expected.

10. Don't spend too much timeunprofitable positions. Having noticed that an open position is unprofitable, the most correct decision would be to close it and move on to a new one, thus minimizing losses. There are a lot of profitable transactions in the foreign exchange market, so it is not advisable to waste time on unprofitable positions. By adhering to the recommendations written above, you will quickly feel an improvement in your work in the foreign exchange market. Now you can safely start real trading.

Tip 1. You should start trading with one currency pair. Traditionally, the EUR/USD currency pair is considered the most predictable and stable. Trading on other more volatile currencies allows you to earn more, but the probability of losses also increases.

Tip 2. Before you start looking for an entry point, study the historical data of the selected currency pair for at least six months. It may be possible to identify some patterns. From now on, start developing your own trading strategy.

Tip 3. Any professional trader or Forex analyst will tell you that only your own trading strategy will allow you to make a profit. Try to create your own trading plan, upgrade your strategy by constantly testing it on a practice account. As soon as the trading system starts to bring a stable profit, you can confidently start using it on a live account.

Tip 4. Control yourself. Patience is one of essential qualities successful trader. Beginners who have opened a trading account for the first time want to rush into battle. But the right moment to enter the market may appear only in a few days, and chaotic trading by this time will already empty the deposit. Everyone is attracted to intraday trading, but at the first stage it is better to open multi-day positions.

Discipline is just as important as patience. Only discipline allows a trader to move along a predetermined path. In no case should you change the rules of your trading strategy on the fly, otherwise trading will simply become unsystematic.

Tip 5 . Do not trust trading analysts and Forex forecasts. Most analysts have never tried themselves as traders, the bulk of their earnings are paid forecasts. Learn to take responsibility for all trading decisions only on yourself. Remember that the analyst will not return your loss in case of failure.

Tip 6 . Do not overhold losing positions. Practice shows that novice traders are ready to hold a losing position literally until the deposit is zeroed. But they close profitable deals on the plus side of just a few points. Learn to easily close unprofitable positions and just as easily wait for profitable ones to gain a maximum. Always use stop and limit orders, this will avoid losses during short-term jumps.

Tip 7 . Keep trading records. Describe all your transactions in a special trading diary. In addition to the factual information about transactions, write down your thoughts in it. This will help you when working on bugs. If you clearly know the reason for your mistake, and know how to avoid it in the future, such a mistake becomes an invaluable experience.

Tip 8 . Do not use a significant part of your capital in trading. If the money is big, you will be very afraid of losing it. And, as you know, who is afraid of losing, then loses. At the first stage, the amount that can be earned is not so important, the development of trading efficiency is more important.

Tip 9 . Don't give in to emotions. An experienced trader treats losses as well as gains. Remember that a one-time gain or a one-time loss will not change anything, the result at the end of the month, quarter, year is more important.

Tip 10 . Constantly develop three areas of knowledge: fundamental analysis, technical analysis and market psychology. It is these three components that arm the trader during the conduct of hostilities at the front financial markets. Constantly develop, read as much literature as possible, but do not forget about practice.

And again, hello, dear readers. In this article, I would like to consider with you some forex tips that will definitely help you in further studying such a difficult area as trading. I hope you find them useful and that you listen to them!

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The first useful advice forex. Do not trade against the movement of the market! Everywhere and always the market has a priority direction of movement. Any trader, before opening deals, needs to understand where the market is heading at the current time. The rule of thumb here is that the trend is your friend, and especially beginner traders should only trade in the direction of the dominant trend.

In fact, we should buy at the bottom and sell at the peak of the market. But, speaking specifically about beginners, the ability to find market peaks and troughs is far from the highest priority issue.

First of all, it is important for beginners to learn to understand in which direction the market is directed.

To put it simply, it is very difficult to enter exactly at the peak or trough, and even experienced traders do not always cope with this task.

In general, if a beginner clearly begins to understand the direction of the market, then this is already a huge step towards success. After all, he will only have to learn to identify the moments when there is an opportunity to competently join the market along the trend. I think you will be interested to know the others that I have published before.

The third advice on forex. It is worth opening deals only when there are all conditions for this! As part of trading, it is very important to have a clear understanding of when it makes sense to open a trade and when to close it.

I believe that even those tips that were voiced earlier are not as important as this one! If you are watching the market, and you do not have any prerequisites for, due to your system, then you do not need to climb into the market!

It often happens that a trader wants to be in the market so much that he simply forgets about his plan, that is, he begins to look for opportunities to enter where there are none.

You need to open any deal only if you indicated it! Be sure to double-check whether all the conditions really converge so that you can open this or that transaction.

Fourth Forex Tip. Profits should rise and losses should fall. It just so happens that a beginner who has seen the minimum profit immediately seeks to close the trading position. But as soon as the deal goes at a loss, he can sit for hours and wait for the price to move in his direction.

This approach in the long run represents only a drain, because the total profit will be less than the loss, even if the number of profitable trades is large. Judge logically, let's say a trader made 10 profitable trades in a row with a profit for every 10 points. Thus, the total profit was 100 points.

But then a signal appeared, and the trader lost 120 points in one trade. That is, there are much more profitable trades, but the result is still negative. It turns out that only one losing trade covers the entire profit from 10 positive trades. In the long term, this is a definite drain!

I’ll even tell you this, there are traders who even make money with the vast majority of losing trades, but the average profit on their trade is 5 times higher than potential losses. Thus, even with a minimum number of profitable trades, they still remain in the black!

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Of course, now on the Internet you can find a huge amount of information, but only its quantity does not mean quality at all!

First of all, you need to decide what information is valuable to you. If you greedily absorb all the information that is available on the Internet, then there will be very little sense from this!

No need to initially fill your head with all sorts of rubbish, because it will really bother you. Judge for yourself from the fact that you will have some kind of incomprehensible mess in your head - this will not make it easier

Sixth Forex Tip. You need to be calm. The ability not to lose one's head under stressful conditions is an important factor in the context of achieving success. If you lose control of your emotions, then it will not end well.

Even if you are overwhelmed with joy, it will still prevent you from assessing the situation soberly, which can only lead to losses. What is the risk?

The fact is that in such conditions, it will seem to you that you have mastered the market, and it obeys only you! I can say for sure that you will pay dearly for such arrogance!

But if suddenly you get a loss, then you don’t need to immediately tear and throw everything in your path! Falling into aggression, a person immediately tries to win back all previously received losses in a swoop.

In this case, he will enter the market with a huge lot, and at the same time without the necessary conditions for this. The logical outcome of such actions will be only catastrophic losses! How to treat read the link.

In conclusion, I would like to note that if you listen to these tips, then you will really learn a lot of useful things for yourself! Sometimes it makes sense to listen to sound advice, but again, always filter all the information!