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Your Best Tip to Forex Newbie


omar.elalfy

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Yeah, Forex is not suitable for people who wants quick profits. Cause it takes time to gain and earn profit here. One should have the capability, the knowledge. Learn little things from the forum, webinars, that a broker will provide. Motivate yourself. Accept opinions even bad comments. Its a part of being a newbie.

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yeah sometimes you would need to do a lot of planning in forex before you would be able to earn well. not unless you have good amount of investment and you have been able to plan your trading for a long time that you have lots of experience. you would not be able to earn well in forex. but you can lose money fast in forex. that is very much certain. no need to learn any thing if you just want to lose money. but to earn money fast takes a lot of learning .

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Like I've said before, when you enter forex, you dont just invest money capital. Its not done with just investing. You must give or even invest youself to it too. Cause forex gives fast profit, but comes with more hardwork and time.

 

I think you also invest your time there, you need to analyze market and it takes some hours or even more than we ever imagine, and even like scalpers they analyze market in long time and also they need to take fast execution to make more profit from each action they take. The best way i think only by trade and trade.

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We have to realize about the risk on the forex trading. This is the real thing for us to know. So, for new trader, they can not think only for the profit and profit without thinking how big the risk. Because if we are serious, and when we go to trade, we will see so many obstacles in the forex trading.

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I don't have a best tip but I guess this is the best that I can share. Always practice forex trading in demo account even if you are trading in real account. I know many who started to trade in real account they stop trading in demo account. They stop practicing as they feel theirs nothing more to learn in forex trading. But theirs really a lot of things to learn in forex trading. Its in here in which we can earn money or loss money.

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Winning or losing is a must accepted situation. Cause going into forex trading is a big risk, you dont have the assurance to always earn profit. Me too, I dont have best tip for newbies, cause I'm not entering forex yet, but based from what I'm learning here in forum, trading in demo account is a must. For you will get background, and learn some experience on it.

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Learning how to accept losses and profits made will be the way to have a truly trader. It's like accepting the challenge that it's difficult to predict the market and make a good analysis on it from the gathered facts. I don't think that it will be easy to achieve by those novice traders to have acceptance of losses but as time goes by they will able to do it.

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Yeah, as time goes by, Forex trader learn allot including losses. And that loss will be acceptable, and can be use as inspiration to be a good trader for him to gain good profits, to achieve your goal in Forex. Anyway, almost everyday, a trader has a goal, whether its learning, enhancing the skills, building good strategy and last but not the least, earning consistent profit.

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Yeah, as time goes by, Forex trader learn allot including losses. And that loss will be acceptable, and can be use as inspiration to be a good trader for him to gain good profits, to achieve your goal in Forex. Anyway, almost everyday, a trader has a goal, whether its learning, enhancing the skills, building good strategy and last but not the least, earning consistent profit.

 

Well i see many of the newbie traders will be just in rush to gain more and more money with forex . the main reason for them to enter forex is that but in fact when they really get started with forex , they will know the risk in this business . so i can suggest them to have a good practice before they started with real accounts , that can give them a very good foundation to sustain in this business .

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I think Forex newbie must undergo with Demo account first, cause the only difference between Demo Account and Real account is just money, which Demo account uses virtual. They should practice in it first, cause trading in it give them experience to be use in real account.

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  • 2 weeks later...

Yes, just go on for very first to gain knowledge by reading and searching for the important information. And also to have here started with the demo after the basic knowledge acquired. Then, sooner we will attempt for our trial in the real and to make sure that our strategy and skills are ready and see if this will result in a success for our practice.

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The best tip that I can think of right now is that we can really make some good earning in here without any problem at all. I'm really happy and excited to make some good earning in here right now. I do hope that in the long run we can say we can really make good income in here without any problem at all. I'm happy that I do see myself become a good trader. How I wish though I can have big capital to speak with.

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  • 2 weeks later...

For newbies out there, I would advice to trade only with a tight Stop Loss and a Take Profit in place. Doing this can help you survive from volatile currency movement which occurs at times which will avoid your account to get fully broke or avoid you from bigger losses which you could never have afforded to loose.

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  • 3 weeks later...

Right now I always say the same thing over and over again if its about tips for newbies and that is trade in demo account and practice and make sure that you become goood trader in demo account before you try to become a good trader in real account. I'm sure in two to three days time we can see ourself becoming a successful trader.

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My best tip to newbie is to use demo forex account before going in real account. But at first he has to learn about knowledge. Without any knowledge he cant use demo account. He can gain real experience of trading from a demo account. so i will suggest newbie to use demo account.

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  • 2 months later...

My best tips will be to learn as much as you can since that will lead you to make better trading decisions and allow you to analyze the market better based on fundamentals and technical analysis. Now, without that you will take a loss a lot so do not gamble with your money or trade blindly like some do and you will lose for sure. You will also learn to manage loss like using stop loss and using low capital and low leverages to trade with and trade only at the right time where there is a real trend to make a profit. 

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  • 3 months later...

Which has a Forex adviser might make your time and energy inside studying Forex reduced a great deal. Because if you are preparing with studying Forex via will try in addition to error next expect you'll achieve that for as much as 3months in addition to preceding. So the advisable thing is to fulfill one that can hold the hands, in addition to show you the particular setting involving Forex. Thus preserving your time and energy in addition to pulling you closer to being profitable via Foreign currency trading.

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A newbie should take his time well enough to study the pairs and know that which he can effectively trade on. There are a lot of pairs in the market and those that seems more favourable than others, depending on the session the trader is trading on. It doesn't really only lie in trading on exotic pairs or the popular pairs but the one the trader can analyze much more easier.

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  • 1 year later...
Demo accounts are very good for the introduction of trading, both systems; trading discipline or money management. But a trader must know that a demo account is very different from a live account (will be better to informed the advantage and disadvantage  before suggesting the use of a demo account for new traders), after the introduction, use the real account will become the best advice to better train the ability to trade, you should use a micro account first before using more money before we actually were able to manage risk with a micro account.
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  • 2 weeks later...

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