Stekin Posted August 15, 2015 Share Posted August 15, 2015 Advice in the best forex trading is to try to always use the SL and TP. With the SL and TP then we were able to be limiting risks, so it will allow us to trade with the maximum. It is difficult to predict the risk, so we need to be able to use SL and TpIt is also good for the traders themselves to know how to set the stop loss and take profit. This thing is usually a problem to some traders who are new into Forex because they usually find it difficult to cope with. It is not all traders that can get this right and that is the reason why understanding Forex is even more important any time. Quote Link to comment Share on other sites More sharing options...
gaban Posted August 20, 2015 Share Posted August 20, 2015 Advice for newbie is the first trade using small capital because with a small capital will allow us to trade with the maximum. In instaforex we could try to trade using small capital first, so that will allow us to trade with the maximum and comfortable Quote Link to comment Share on other sites More sharing options...
ElliotHarris Posted August 25, 2015 Share Posted August 25, 2015 training your self in demo account for at least 1 month. Learn and apply your best strategy in this demo account. Quote Link to comment Share on other sites More sharing options...
pepy Posted August 26, 2015 Share Posted August 26, 2015 1 month? I think that is not enough, 1 month considered to be short. I do recommend at least 4 months. It will see how good you are when trade, and if you prefer technical analysis try to analyze the market at least twice or thrice each week. Quote Link to comment Share on other sites More sharing options...
jamante Posted October 2, 2015 Share Posted October 2, 2015 atleast a month, but yeah i think it would take more to actually do good, i used a hotforex demo for 6 months before my first live trading. Quote Link to comment Share on other sites More sharing options...
Upul Tharanga Posted October 16, 2015 Share Posted October 16, 2015 My advice is pretty simple and that’s to believe that you can do it, if we are able to reach to this stage then we can definitely make it big and far, but if we are unable to do that than we are likely to get into struggling mode. I am extremely fortunate that I have right company in Nova FX, it not only works as fantastic brokerage house but it is also incredible guiding place for new comers due to their education section, it’s fabulous. Quote Link to comment Share on other sites More sharing options...
gaban Posted October 29, 2015 Share Posted October 29, 2015 Advice for newbie is should always use the SL and TP. For the SL and TP will allow us to minimize the risk of forex properly, so we will be able to be trading with leverage. We know that the forex risk is very high so it needs better risk management Quote Link to comment Share on other sites More sharing options...
pepy Posted October 30, 2015 Share Posted October 30, 2015 I think SL and TP is tools that many people forget for, it is one of the most useful but people think that is not worthy. Well it doesn't make you so flexible because it limits your profit and so do your loss but if you carefully planned your strategy this feature should be very useful for you. Quote Link to comment Share on other sites More sharing options...
gaban Posted November 2, 2015 Share Posted November 2, 2015 I think SL and TP is tools that many people forget for, it is one of the most useful but people think that is not worthy. Well it doesn't make you so flexible because it limits your profit and so do your loss but if you carefully planned your strategy this feature should be very useful for you. If you're not a scalper, you may forget about using SL and TP. But if you have no time to watch those candles, you better put SL and TP in order to prevent an unlimited loss and take a planned profit... Quote Link to comment Share on other sites More sharing options...
pepy Posted November 2, 2015 Share Posted November 2, 2015 That is why we should choose which is more suitable for us, scalpers doesn't need it usually. They just watch theirs for few minutes and then close the position as fast as they can and open the others and close it again. I myself still use TP and SL because as you said i don't have much time to watch candles. Quote Link to comment Share on other sites More sharing options...
myregister Posted November 3, 2015 Share Posted November 3, 2015 Same here becoming scalpers for few months is tiring to me and i have been switched to Fundamental Analysis type trading that brought me to a style where i don't have to trade everyday, and i don't have to see the candle over and over again, also in this kind of trading SL and TP are playing important part to me. Quote Link to comment Share on other sites More sharing options...
gaban Posted November 4, 2015 Share Posted November 4, 2015 That is why we should choose which is more suitable for us, scalpers doesn't need it usually. They just watch theirs for few minutes and then close the position as fast as they can and open the others and close it again. I myself still use TP and SL because as you said i don't have much time to watch candles. Yup, correct! Just try and choose one trading arts that suits to your and your time.. Quote Link to comment Share on other sites More sharing options...
myregister Posted November 6, 2015 Share Posted November 6, 2015 Scalpers are people who wanted profit in relatively short term time but in smaller amount and to subsidize this then you need more position to open, some scalpers prefer fast open close session while the others prefer to open simultaneous position and close it as fast as they can. Quote Link to comment Share on other sites More sharing options...
pepy Posted December 22, 2015 Share Posted December 22, 2015 Well the other advice that i could give to a really newcomers is think about your capital invest in big amount at least 3 digits. Also make sure spend at much 3% of your total capital. It is really easy to know just do math with your total equity and then take 3% from it and make it as your SL point or your lowest point you could handle. Quote Link to comment Share on other sites More sharing options...
gaban Posted December 23, 2015 Share Posted December 23, 2015 because ane trader target is to make profit and trying always avoid lose, so risk management is very needed for any trader to do. with a good risk management trader can minimize their chance to face with lose. Quote Link to comment Share on other sites More sharing options...
myregister Posted December 24, 2015 Share Posted December 24, 2015 @gaban: From your post, Â i can say what you want to say is newbie should looking for their own risk and their capital. Well to be honest it is a good advice but lack of some explanation about that advice. In this case Risk management the most important part of forex a trader should always looking for it, capital is the main source which must be protected at all cost. Quote Link to comment Share on other sites More sharing options...
pepy Posted December 30, 2015 Share Posted December 30, 2015 Risk management is needed and i am sure all of them know about that thing, what i want to emphasize here is that it is a common thing yet many of them don't know how to apply it. Of course it is a common sense that with a good risk management someone can lowering the risk and it is good for our long term as trader. Quote Link to comment Share on other sites More sharing options...
HumanResources Posted January 2, 2016 Share Posted January 2, 2016 but can you told me how to gain profit from scalping ? Quote Link to comment Share on other sites More sharing options...
pepy Posted January 4, 2016 Share Posted January 4, 2016 To gain profit from scalping is actually easy above the paper, i mean it is sell and buy later or vice versa. With scalping you must act fast targetting just few pips like 5 pips or 10 pips and after reach that state you can simply close your position with cut loss, but when to open a position or the right risk we should take is different to each person. Quote Link to comment Share on other sites More sharing options...
myregister Posted January 7, 2016 Share Posted January 7, 2016 Just do it, but always be wary about what could happen next. I mean risk management is the most important part in forex, even you lose it would be intelligent to lose with strict and proven risk management which means your loss overall wouldn't be so high and you can recover. Quote Link to comment Share on other sites More sharing options...
gaban Posted January 7, 2016 Share Posted January 7, 2016 but anything is back to how good the trader can do their analysis, with good analysis trader can make sure their prediction of the price movement so trader can make their chance to make profit getting higher, with bad analysis trader will getting hard to predict the price movement, and of course that will make their chance to face loss getting higher. Quote Link to comment Share on other sites More sharing options...
myregister Posted January 7, 2016 Share Posted January 7, 2016 That is right analysis still important all based on anlaysis before someone trying to take an action to open or close a position in financial market including forex. What i emphasize here is focus to trade and just do your trading without need to waste into unhealthy discussion about forex. Start do analysis, start with demo account, keep action and gain experience. Quote Link to comment Share on other sites More sharing options...
gaban Posted January 12, 2016 Share Posted January 12, 2016 Advice for newbie is trying to trade using a demo account first, because trading with a demo account that will allow us to improve the skills of trading. So that we can start trading real account with either Quote Link to comment Share on other sites More sharing options...
myregister Posted January 12, 2016 Share Posted January 12, 2016 That is a good advice and i think the most common advice i ever heard up to now. Even that is the most common one but many newbie doesn't know when to stop trade in demo account or they simply ignore to trade in demo account because they think they are good enough. This common and simple strategy has been proven to bring better experience and overall trader may control risk better and analyze more accurate. Quote Link to comment Share on other sites More sharing options...
gaban Posted January 19, 2016 Share Posted January 19, 2016 Good advice for a newbie is to never stop to be able to continue to learn and practice trading well. Forex is a business that has a high risk, with the risk that it is for us to get the maximum results then we need to be able to continue to improve the ability of good trading Quote Link to comment Share on other sites More sharing options...
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