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5 Things Forex Newbies Usually Learn In Their First Year Of Trading

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Over the years, I got a chance to talk to many bigginner traders that joined into Market Masters Academy who were just getting their feet wet in forex trading.

I’m sharing with you a list of what they said are the most important lessons that they’ve learned so far.

I’m sure you can relate to at least one or two points:

1. Stick to the plan

A lot of traders mistake trading plans for a set of rules that may or may not be followed when executing a trade.

There is nothing binding you to follow the plan and there are times when you feel that the trade won’t “work” if you stick to it. As a result, you take trades on gut feeling, making sudden adjustments and deviating from the plan at the first sign of trouble.

What you should remember is that a good trading plan is a dynamic set of guidelines, a product of hours upon hours of analyzing, testing, and refining.

If applied consistently, your trading plan could also give you an edge. You take...

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5 Reasons You’re Missing Out on Winning Trade Setups

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For some traders, the only thing worse than losing a trade is missing out on a winning setup that they had spotted but had not taken.

I’m sure you’ve found yourself in this situation before:

A trading setup catches your eye, so you do your homework.

You read about the asset’s fundamentals, review its previous price action, and you look at key its technical levels. You even plot a general trading plan for your entries and exits!

But when it’s time to set your orderd, you suddenly doubt the whole idea. You then decide to wait.

You place your entries at unrealistic levels, or you suddenly think of additional “market conditions” that have to be met before you jump in.

Unfortunately, the market waits for no one. Price moves on without you and you find out that you had a winning trade idea all along. OUCH!

You then remember that there are actual (but hidden) costs to not taking valid setups. DOUBLE OUCH!

If the scenario above happens to you...

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Yes, Looking At Your Worst Trades Can Help You Become a Better Trader

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I know this might make you cringe but try looking at the worst trade you’ve ever had in your trade journal.

Review the trade setup that you saw. Think about what went wrong and ask yourself, “Why the heck did I ever take that trade in the first place? What was I thinking?!

More importantly, “Was I even thinking?!”

You probably just took that trade automatically based on a familiar setup. In this case, your decision was a result of your own way of thinking rather than what the market was telling you.

Your worst trade doesn’t even have to be the one where you’ve incurred your largest loss.

It can be a missed opportunity, when you hesitated to take what could’ve been your trade of the year, or when you locked in profits too early instead of letting it ride. You might’ve wimped out because of your fear of losing, even when the markets gave every indication that this next trade would be a winner.

Maybe you’ll look at your...

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How To Build a Forex Trading Strategy

Forex trading is a very interesting yet lucrative business and is definitely not for everyone, especially the faint hearted. In fact many would go as far and say that only a very select group of people are even  capable of making any money at all from the financial markets. Unfortunately for the rest of you out there, you fall into the 90/90/90 club which means that 90% of traders, lose 90% of the capital, within 90 days but then again if trading was that easy then everyone would be doing it.

 

One of the most important things to consider when trading is creating a strategy, because without a strategy it would be seen as gambling, and we all know that the house always wins. Building a strategy is one the most important, and one of the first things every trader should do before they place a trade, and we are going to go over how to build a forex trading strategy in this article.

 

There are very few people who are able to fully commit and be available to actively trade...

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How Can Trading Benefit You And Your Family

 Trading has soon become one of the most sought out online professions in the last few years, due to the easy access to the markets and the endless amount of information available for people to learn from. Due to the high liquidity, its round the clock schedule and easy accessibility, trading is a favored profession especially by those who have a financial background, and it is no wonder with the profits that can be made, if it is done right. The appeal of being your own boss with the comforts of being able to make money using just your laptop or mobile device, when it is convenient for you has given some people more than enough motivation to see trading as a professional career. But how can trading actually benefit yourself and your family, regardless of what marketing material we see on a daily basis.

 

Low Costs

Trading can have some very low costs attached to it, whether that be in the form of broker or commissions. However there aren’t any traditional...

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5 Biggest Mistakes Every Beginner Trader Makes

Nobody likes to make mistakes, but unfortunately no one is perfect and we are subject to make mistakes throughout our lives, but it is how we learn from those mistakes that determines how successful we will be in life. Trading is now different, and you WILL make mistakes and you need to be able to learn from them if you are going to be a successful trader. Below are the 5 biggest mistakes that pretty much every new trader makes when they try to conquer the world of forex trading.

 

Not Knowing When To Quit

Admitting defeat and to a losing trade is a bitter pill to swallow, but you will inevitably come across a trade that will not go your way, and how you deal with it will determine your outcome. One of the most obvious mistakes that new traders make is letting their losses spiral into even bigger ones. They can be quick to enter into another trade because they simply don’t know when to quit. The thought that often goes through their mind is that they must be right and so...

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A Comprehensive Guide to Forex Trading and Forex Training Courses

Forex trading is a massive market with billions being traded in foreign exchange every day. It is also a lucrative proposition with a lot of people regularly taking the plunge. However, contrary to the common perception that if you can speculate right you can become a millionaire overnight, Forex trading is no get-rich-quick scheme.

Regardless of whether you are a beginner just testing the waters or a seasoned pro in Forex trading, enrolling in the best Forex learning course to pick up the many intricacies of trading is essential. It will help you to know more about the trading tips and strategies that apply to online Forex and currency trading as well as ensure that you are well aware of the useful indicators and potential pitfalls.

This post will take you through the main aspects of why you should opt for Forex trading and what the top Forex trading courses like the ones at Market Masters Academy have to offer.

Why should you Trade in Forex

For beginner Forex traders, before...

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Become A Successful Trader With Forex Signals

We have seen an average number of people investing in trading nowadays. One of the most successful online tradings is the Forex market. It is can also be a scary place where you can lose all your invested money if you don’t take proper care of it. There are many methods and strategies used by traders to decrease the possibility of losing money in this market. But as a conclusion, it is important to first learn more about the Forex trading and then start investing in it. The top priority of all the traders in the Forex signals.This is considered as the basis for Forex trading without which there is no trading. Using these signals the traders make any crucial decisions related to the trading.

What are Forex signals and how can you use it to earn more profit?

Forex trading signals are provided as a service to the traders so that they can make more profit in their trading. This is considered as an easy and more comfortable way to achieve success. It is a type of trading alert...

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Increase Your Chances of Profitability with Forex Signals

"Sometimes, the best investment is to turn others' experience and knowledge to gain profits."

Traders should subscribe for Forex signals to eliminate any doubts they'd have over lack of spontaneity, decision-making skills, experience, fear of loss or guilt of letting the opportunity slip away from hands. Time is an essential piece in the puzzle. It may curtail your trading career even before it kicks off. The market is a mystery. Things get a little out of hands for those who don't have the required experience to sense a wrong deal from the right one. It comes with experience. There's no doubt about it. We offer a complete package to help the traders with any kind of experience to have a winning run in the market.

1. Forex Signals Service Could Overturn Fortunes

Buying Forex signals subscription would put an end to all doubts. What traders mistake for lack of luck is the right guidance to skip the risky bets and invest in profitable ones. Our team manages the risk factor by...

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How to Master Your Trading Psychology Skills in 7 Steps

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#1 Practice With a Paper Trading Account

Being consistent with day trading is as much about experience and practice as it is about skill and knowledge.

Maybe you don’t feel ready to throw your hard-earned cheddar in the pot just yet? Set up a paper or ‘play money’ trading account. You can practice real-time trades while minimizing the stress and emotion you’d feel if you’d invested real money.

Paper trading can help you build confidence in your decisions without the constant worry mistakes and consequences.

 

You can always reset your balance and try again. Remember to keep track of what’s working and what’s not.

Most traders want to be cool, emotionless, money-making machines. To make that happen you first need to learn how to rule your trades with logic on a day trading simulator. Then learn to use that very mindset when trading for real.

If you’re new to trading, a paper trading account can help you adjust to the...

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