recipe for disaster:
A newbie trading over 20 pairs simultaneously
A newbie trading over 20 pairs simultaneously
No Requirements to Be Happy 15 replies
DislikedWhy are you trading almost or over 20 (or over 20) pairs?
It takes years just to become aware of the way the majors work together and against one another, understanding some of the minors comes with that.
There is no way that if you are a newbie you know how to trade all these exotics you are taking trades on.
Gold and Silver are their own beast.
Suggestion, start a new demo, open up the margin and equity so we can seee the risk. Pick 2 to 4 pairs and trade them only.Ignored
DislikedMy advice - Learn market dynamics before you try to learn to trade - it'll make the world of difference
If it helps, read the thread in my signature
We're also opening a new trading site, hopefully today, which will help you alot
and before anybody shouts me down; no, we will not be charging for it - ever
Best
IfIgnored
DislikedA complete newcomer shouldn't be trading at all
A trainee surgeon will need to do lots of theory before being given a cadaver
Trading is no different - learn how the market works, then you can start to learn how to make it work for youIgnored
DislikedHi everyone, greetings from me - a brand new newbie.
I have been playing on my demo account for few months now, had opened my first live account for 2 weeks. I am looking forward to become a professional trader slowly (hope not painfully).
Can anybody shed some lights on the life of a professional trader for me?
Is it a happy life?
Sad life?
Chaotic life in which you are on the top of the world one day but only to become suicidal the next day?Ignored
DislikedOne thing to be aware of from the beginning - This is not going to be a quick journey to riches.
If your loved ones are not prepared to have you stuck to your screen day and night for a couple of years, learning how to read the market and master your emotions, it will be a very hard time for you in your personal life.
It will be very hard to progress without the support of those you ultimately wish to support.
So please, let them know this will take lots of time and dedication, and respect their thoughts and feelings on the matterIgnored
DislikedIt depends at which stage you are in.
At the start, yes , yoyo emotions, you are learning a lot, have a lot to learn, it is completely new, I'd say with hindsight a very happy life because you are constantly stimulated. You have the motivation ( greed?), but need the practice, the studying, ...
then later on when things are more kind of settled, well, you have to deal with the absolute boredom, specially when trading full time. This is where you understand what is really important - family first, then friends - real friends, etc...Ignored