One of the biggest challenges for new traders

[Ivo Zetticci]

One of the biggest challenges faced by new forex traders is finding a good place to start. There are thousands of forex brokers out there, but only a few reputable ones. Unfortunately, the best ones are the most expensive. So, whether you are a complete beginner or an expert already - there’s truly a solution for everyone at Eurotrader.

 

[Kingstone]

@Ivo Zetticci.. You need to make another post concerning forex trading. I am sorry but you just have to make changes. The only broker you have been saying for weeks is Eurotrader. Meanwhile, you have not given us any reason to trust this broker. You have not tried to upload your payment proofs. I wonder why you keep talking about this broker more often.

There are numerous brokers out there that one can choose from. But there are other problems one should worry about. A demo account is automatically created using Meta trader 4 or 5. The real problem is getting how to trade right.

 

[Dita Walczak]

In order to trade, I have to acquire education and I have to struggle a lot while acquiring this education. You can never succeed in trading without obstacles. So I have to learn to trade.

 

[sincerem]

Eurotrader app is a tremendous way to get started via forex market, it's been running for long now, very legit forex broker. I don't trade forex but I've gotten lots of info around the broker, it is mostly recommended for forex traders especially the beginners who are starting newly. Not all brokers are worth it, some are simply dubious, and not recommended for a novice trader to start with, to avoid losing the money carelessly. It pains in the bone when you lost your money in an acrimonious circumstances, it is distorting. That's why I make my researches to ascertain the legitimacy of a broker before going into it. Because I hate saying: had I know', such words pains in the ass. Some novice traders just start immediately to trade forex without asking questions how the market trend works, they simply wants to claim expert, shoeing superiority that they can make it off forex trading without expert's guidance. But that's a lie at the end for them, because they fall short trading forex as inexperienced. Inexperienced don't go into the forex market without being informed the basics. The basics of forex trading is needed in order to excel. If you don't have it you simply have yo learn before starting.

 

[eldavis]

Personally I don't think the major problem a beginner in forex trading face is finding the right broker cause I feel this can be sorted out with ease. A new trader can easily go to Google and search the broker to use, the person who introduced him or her to forex trading would have probably told him the broker to make use. The issue most new traders face is actually how to trade, it can be very confusing at the beginning.

 

[Chlamys]

Challenges I faced as a new trader

1) Good and free educational resources.

2) A good mentor

3) Overcoming fear, greed, and anxiety.


4) Creating a profitable strategy (still working on)

 

[Wharf]

One of the biggest challenges for new forex traders is controlling emotions while trading. Forex trading is either fruitful or disappointing, and in both cases, a trader needs to remain calm. However, new traders get excited after a series of profitable trades, invest big and lose it all. Whereas, those who haven’t had a good trade invest more to recover their money and lose it as well. So, having control over emotions is paramount for new traders. There is a concept called ‘trading psychology’, which every trader should read, understand and implement.

 

[Mataracy]

What one need to do in order to become a professional in fired trading is to acquire good knowledge of it from those who have been in the business for long and has succeeded in it.
Any body that want to succeed in doing forex must be ready to take risk because it's highly risky.

 

[Onetech]

Losing money in forex trading is a common thing. I have heard most of them said that you can lose some days and gain some days in a week that means you're not sure of winning all your trade in a week. Mind you you can blow your account within 20 minutes. Always be careful. The best forex traders I've ever seen are those taking profite within minutes.

 

[Jack Reacher]

The majority of traders lose money due to greed. There is no room for fear or greed when trading. Whatever the case, this strategy is not for the casual or for those who are hesitant to take a risk. Think fast and think about an extremely high-risk profile, where planning is vital and specific organization is the most essential when a newbie in the field wants to be successful. I trade both Futures and forex with the Eurotrader broker. I love their quick trade execution.

 

[Critomancy]

One of the biggest challenges I face trading is controlling emotions. All your trading decisions depend on your psychology. Traders should not trade with greed, fear, and anxiety. Some traders also revenge trade, which is not a good way to trade. Developing good psychology is a long-process, and it is a skill that every forex trader should have to become successful.

 

[Zonked]

Losing money in the forex market is much easier than gaining money. One should have a solid strategy in order to gain substantial amounts in the long run.

 

[destinyrim]

@Critomancy I agree that controlling emotions is the biggest challenge that every trader faces.
There are other hurdles too that newbies often face. They lack awareness and believe that forex trading is an easy and a quick way of making a good amount of money. Due to this lack of awareness , they easily fall trap to scammsters in the market.

 

[Revetment]

I believe that forex is a vast subject and there’s so much information available that deciding what is important and what is not is the main challenge that a new trader faces. Even I faced this confusion when I started.

 

[Setho]

Forex trading is actually one of the most complicated in the world and you can understandably reason with a lot of people that they are usually confused and scared of where to start from. First of all I would advise everybody to see education and this is something that you can be able to do from a lot of youtube channels out there that can be able to guide you on the right forex broker to take and also the right forex strategy that you can be able to use to make money. You should then be able to learn how to manage your emotions as well as how to do risk management.

 

[Sotherefore]

Eurotrader app is a tremendous way to get started via forex market, it's been running for long now, very legit forex broker. I don't trade forex but I've gotten lots of info around the broker, it is mostly recommended for forex traders especially the beginners who are starting newly. Not all brokers are worth it, some are simply dubious, and not recommended for a novice trader to start with, to avoid losing the money carelessly. It pains in the bone when you lost your money in an acrimonious circumstances, it is distorting. That's why I make my researches to ascertain the legitimacy of a broker before going into it. Because I hate saying: had I know', such words pains in the ass. Some novice traders just start immediately to trade forex without asking questions how the market trend works, they simply wants to claim expert, shoeing superiority that they can make it off forex trading without expert's guidance. But that's a lie at the end for them, because they fall short trading forex as inexperienced. Inexperienced don't go into the forex market without being informed the basics. The basics of forex trading is needed in order to excel. If you don't have it you simply have yo learn before starting.

It is a nice forex broker but the problem is that I don't really know if it is accepted in our country and even if we use it to trade forex how can we be able to withdraw our earnings to our local bank account or what is the means of withdrawing with the platform because I have not done any research about it but I'm just asking on behalf of people that might really be interested to join the platform.. if for example we are withdrawing our earning to PayPal account obviously this may not really be profitable to some people here since PayPal account is not accepted.

I don't really know if they can be able to do a direct bank transfer to us here because that will be the most suitable way of receiving payments since the bank will automatically convert it to our local currency and send us the amount in naira equivalent to the amount of money that is sent over there.... Even me I do not really have interest in forex for now and I don't even think I'll have interest on Forex in the future because cryptocurrency is the only way out for me now.

 

[tetramorium]

The biggest challenge for a new trader is to find a reliable broker to start with. There are a lot of forex brokers, but you have to choose the best one for your needs. Always read reviews on broker websites, ask for friends who are already trading and check forums about forex brokers in your country. This will definitely help you find the best forex broker and best trading conditions and save you a lot of time.

 

[Bookwormlux]

It is not easy for people who are finding it difficult to start forex trading . The most difficult part of everything is that we have a lot of people out there who are looking for others to treat them in the name of teaching them .


This is a major reason why you have to be careful and to make sure that we don't just focus on those people who appear to be legit because most of them are scammers.
They will appear to you as do forex trading is a very fast way of turning rich within a very short time, but you are not knowing that they are only interested in you giving them money in the name of teaching you and they will share our dated materials with you .

Forex trading is something else, and it is not easy to even differentiate a forestry that from someone who is into fraudulent activities, and that is why a lot of new traferS find it difficult to succeed because they get into the hands of such dubious individuals who scan them of their hard-earned money.

The best thing is to make sure that you avoid all this scammers by all means possible.

 

[Ivo Zetticci]

Managing risk in forex trading is the cardinal challenge for forex traders because there are traders in bulk who don’t know how to manage trading risk. They are ignorant about managing a strategy. Every single time they need to struggle to develop themselves and ignite their skills. Earning knowledge is another challenge for them too.

 

[Bookwormlux]

The challenges faced by a lot of new traders is very plenty on it would be difficult for us to continue to list all of them here.

In addition to my earlier contribution, to this topic, I think that new traders are usually faced with the issue of really finding a formula that she's working for them.

This is usually due to the fact that they come into the market with so much passion for it, that they get to read a lot of materials and then realized that they still have not figured out what is expected of them to do and succeed like other people are doing.

At the end of the day , you realize that they are very knowledgeable of different things but it still cannot just sit down and tell you what is really working and what is not working.

This is a major challenge , and it is usually due to the fact that some of them do not get a real legitimate person who is ready to mentor then and show them the way without trying to exploit their Being new.

And we know that such people really are proliferating in the market already and I
Are always was looking for who to defraud.