flybiz08

Wow! This video is precise and rich and I can tell that not only the new traders need this but also the experienced and professional traders. It will also be nice if we can see more and more of this video from time time. Thanks a lot.

That's right. Baby pips has a whole lot to offer and if a newbie wants to really understand forex in a simple and friendly manner with illustrations, then babaypips is just for you. Forexfactory can also contribute to a new traders skills.

It is because the money in there is not real. Since a trader can afford to take trades without paying with real money if trading mistakes occur, the trader is more inclined to perform better. Again, since the trader cannot actually withdraw the wins, there might be no need to be greedy chasing pips around.

You can also decide to choose a broker by getting direct and live reviews from traders who you know that ae trading with the broker in question. One thing is for sure, I do not think that there is a broker that does not have a bad review anyway.

I think the live mentor will be in the interest of the new fores trader because the interaction in this case is more conducive and the trader can actually view charts with full explanation and without internet hitches. Also, the live mentor can be easily reached than the online mentor where a trader has to send emails.

My trading experience has been wonderful but I cannot for sure say that it is the best out there. During my trading years up till now, money has been made and money has been lost. I stand tall because at the end of each passing month, forex pays me to my satisfaction.

I have read about this thread in some other forex forum. Well, I do not know of any forex broker with that name and the one I know is now defunct and its name is MFGlobal. There is also a HYIP program that goes with that name.

$1000 a day is possible if the forex trader has the necessary skills to make this king of money daily. One should also consider the nature of the forex market in that some days might be better than others and some days there might even be nothing from the markets.

Demo accounts are good for both new traders and experienced or professional traders. The usefulness of the demo accounts to the demo account is to help the newbie develop a trading system without losing real money at the end of the day. New traders should endeavor to trade on the demo accounts for nothing less than 6 months.

The stop loss should be placed ideally at psychological levels, just below a strong support if a trader were buying and just above a strong resistance if a trader were selling. It is not a golden rule that all traders will use the same stop loss levels. It is at the discretion of the trader.

Me too. I blew my account up a number of times before I appreciated the importance of placing a stop loss while trading. It is also important to know that most new traders are faced with this account blowing issue. A proper risk management technique can help a trader prevent this from happening.

Why should anyone depend on long term support to go long? Then if I were trading on the 1 hour time frame, then do I use a long term support? Again the number of pips to risk here will be too much.

Emotions should have no place in the career of a forex trader because emotions can cause a trader to be reckless in trading and the result is potential losses. Using a proper money management will help a trader put emotions under proper control.

Forex experts advocate that a forex newbie sticks to the higher timeframes like the daily charts and above. In all truth and honesty, if a trader does not have a consistent trading system, the if a loss is taken on the daily charts, the the trader would have wasted a lot of time waiting on one trade.

A newbie that depends on robots for trading is going nowhere as far as forex trading is concerned unless the newbie is in forex to make a couple of dollar amounting below say $200. For serious trading, the newbie has to learn how to trade.

Why would you want to sell your forex trading account? It does not make any sense since forex account opening is free in all forex brokers that I know. Are you sure that you know the consequences it will have on the buyer. Paramount above all is the inability for the buyer to withdraw funds directly.

By ridiculous amounts, I wonder what you mean. Stop losses are important to forex trading and any trader who does not imbibe that culture of using stop losses is only bound or headed for one thing and that is failure in trading.

I agree with you because spreads are the main income for the brokerage firms. Again, it is important to understand what type of broker we are talking about. If we were dealing with a broker that is a market maker, then spreads are not the only source of income but also your money as the market makers tend to take the other side of your trades.

Not all brokers offer these swap free account as you put it. It is those brokers that try to attract vlients who have religious iclination against swaps that such accounts were created for. I personally do not like these swap free accounts because a trader will not earn the huge positive swaps on exotics.

I dfo not believe that the PAMM system of account management can take a trader places. By this, I mean that if a trader really wants to make it in forex by starting from the retail end of forex and then ending at the institutional level, then it'd be better for the trader to learn how to trade by himself.

As much as some forex traders would want to refuse to believe in unrealistic forex returns, most traders believe otherwise. Forex has the ability to produce gains that are unbelievable if a trader knows what forex is all about and the make it even better, forex can make that happen in a very short time. That's why forex has been very attractive to investors who want quick money.

It is the trading strategy that will make that decision and if the trader is wise, the trader will wait patiently until that decision is made. If a trader cannot bve patient, then there's the possibility of taking trades that may have a high losing potential. Let thee strategy lead the way.

Greed will not take a trader to the promised land as far as forex trading is concerned. It is necessary for a trader to follow and implement an already laid down trading strategy that tells the trader when to take trades and when not to. Aside this, greed should not overcome a trader to take trades in order to make quick money.

It is losses that that spur that inner desire to make it in forex trading. Forex at a glance for every newbie is an easy opportunity to make money but in the end, the new trader will understand that it is not easy to let the wins overcome the losses. Taking losses is also one way to motivate a trader.

Forex is not an easy investment and time, money and more importantly skills are required to make it big in the forex market. Starting with the demo accounts is important and then coming up with a consistent and profitable system is also important.