Jump to content
Exchange Blog Cryptocurrency Blog

Verifpro


Best Change



Your best Tip for a Forex newbie


abdulla1

Recommended Posts

I guess, I would suggest that a Forex newbie must get educated to understand forex, before plunging into the actual trading itself.

 

There are lots of good resources out there to help. One of the best I have come across is makemoneycurrencytrading dot co dot uk as they run free webinars and training.

 

He will train you in their strategies as well. And they run live portfolio so you can actually see if their strategies are making profit live. They send out a daily report each day with the trades.

Link to comment
Share on other sites

  • 4 weeks later...
  • Replies 109
  • Created
  • Last Reply

Top Posters In This Topic

Before doing actual trades first play with cents accounts play for few cents or couple of dollars only, try using simple strategies going with the trend and avoid chasing the market trend exit when you feel trade goes reverse of what you thought. When you are expert enough then only deposit significant money and start trading.

Link to comment
Share on other sites

Before doing actual trades first play with cents accounts play for few cents or couple of dollars only, try using simple strategies going with the trend and avoid chasing the market trend exit when you feel trade goes reverse of what you thought. When you are expert enough then only deposit significant money and start trading.

I also think that by cent account then we will be better trained in mental terms, compared with a demo account that it is better, although we must give up a little money

Link to comment
Share on other sites

  • 2 weeks later...
  • 4 weeks later...

I am also a newbies with regards to forex. And somebody suggested me to visit babypips because they told me that this site is a good learning site for forex and many professional trader now started in this site.

indeed it is a good place for newbies to learn about forex. but i have to warn you that it is not easy to read tutorials here either even though it is just basic. it is because forex is indeed a difficult subject. even that is hard to learn though.

Link to comment
Share on other sites

  • 2 weeks later...

@indieover you are correct. forex is not easy and its also hard to know everything from forex forum but need practical knowledge which only give us our trading . from my experience i can say forum help us lots if we have asking then we get answer from forum and also some basic thing but for more knowledge we need trade continue it may be real or demo which give us live knowledge about the movement of the currency.

Link to comment
Share on other sites

@Nikhil

Actually, forex is not easy and it is not hard too. It will only need our more time to get more knowledges and more experiences.

If we learned how to trade well and we did many practices in forex trading, we will find out how to trade well but it will need time

to get good amount of profit. Just like another business, we must move step by step and there is no instant way to earn profit.

Link to comment
Share on other sites

  • 2 weeks later...

First of all Forex mean - we have to know the exact operation that have performed here. I would like to suggest you to take lot of direct forex article, forex history, also very important forex current market place position. It's different to take time, someone who has best business abilities can take best challenge within a few months. But I think without stay a complete year no one get profitable gain.

Link to comment
Share on other sites

Your forex skills is positively related to the amount of forex knowledge that you have imbibed. I haven't spent a complete year on learning forex yet so I am just trading with limited capital. I highly prioritize the process of learning over the increase of my balance. I believe in the one-year rule. It can apply to everything, not only forex.

Link to comment
Share on other sites

@winning11

Forex need time to learn so if you still don't sure you can make profits in forex just keep learning and don't give up. It can be a good business for you in future if you can learn it well. I read that some expert traders need 10 years to learn and expert in forex so the best part from them is they never give up and keep learning until what they are today...

Link to comment
Share on other sites

  • 2 weeks later...

I'm nubie too in this business so this thread is very useful to me. I heard and found in internet, many of them suggest to newbie to learn the basic part first, train the mentally and patience, also discipline with own trading strategy. Wait for the best setup first then enter the market comfortably but this part is the most difficult because I still impatience. I hardly make a profit return in every month, always end in loss every month.

Link to comment
Share on other sites

@winzpc

For newbie, they should learn about basic of forex first so they will know not only benefits to join in forex market but they will know

the risk of trading in forex too so they didn't get wrong informations about forex trading. And if they are ready with the risk, so they

could train from demo account first before entered to real account.

Link to comment
Share on other sites

Newbie in forex mostly been categorize into the 95% trader who loss the money because they haven't know really about this business. They only care that forex can make them rich easily because they have see many pro trader can make a huge gain and the advertisement in internet that show a huge profit from one trader. So I think newbie must change their point of view of this forex, they must know the process to become a great trader. The become that, they need huge effort, they must learn the basic and need a few years to understand this business work.

 

@andry777

I agree with you, newbie must learn the basic first. Basic forex is the most important like me when the first time I trade forex. I don't want to know what is forex and not care the basic like money management, trading system and mentally. That's cause me loss much money.

Link to comment
Share on other sites

  • 3 weeks later...

Before doing actual trades first play with cents accounts play for few cents or couple of dollars only, try using simple strategies going with the trend and avoid chasing the market trend exit when you feel trade goes reverse of what you thought. When you are expert enough then only deposit significant money and start trading.

I think you are right pal. At least when you invest on cents, it wouldn't be that heart breaking should you lose it. Good strategy as well to accumulate funds if everything is going right on your side. And when you're ready to gamble, then you can invest more for better chances of earning more.

Link to comment
Share on other sites

Newbies should know that actually forex investment is quite risky & it may wipe out all the assets if investors trade forex in improper way. So, besides some basic forex trading knowledge, investors should also have practical knowledge & forex trading experience before doing some real forex trading.

Link to comment
Share on other sites

  • 2 weeks later...
  • 6 months later...

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.

Link to comment
Share on other sites

  • 5 weeks later...

I guess, I would suggest that a Forex newbie must get educated to understand forex, before plunging into the actual trading itself.

 

There are lots of good resources out there to help. One of the best I have come across is makemoneycurrencytrading dot co dot uk as they run free webinars and training.

 

He will train you in their strategies as well. And they run live portfolio so you can actually see if their strategies are making profit live. They send out a daily report each day with the trades.

 

We should not only based our learning on just one site alone,we should visit other great site and increase our knowledge on the subject.Nowadays,there are lot of them online we can visit and learn for free.

Link to comment
Share on other sites

@Nikhil

Actually, forex is not easy and it is not hard too. It will only need our more time to get more knowledges and more experiences.

If we learned how to trade well and we did many practices in forex trading, we will find out how to trade well but it will need time

to get good amount of profit. Just like another business, we must move step by step and there is no instant way to earn profit.

 

i am glad to hear from you that forex is not that hard too. but i just find it too hard for now. i hope that one day or soon that i would find forex not that hard as it is now. so i will just have to give more time in learning and practicing in demo account.

Link to comment
Share on other sites

hahah of course, but i prefer if you try demo account while you learning in some forex forum, just applied what do you learn about forex rather than learning for some month and then applied it,. it will be better if after we learn or get some knowledge we just applied into our trading

Link to comment
Share on other sites

  • 1 year later...

As a newbie, you should invest with bonuses instead of your own money and post in forums for bonuses like forum.tradersunion.com or instaforex or mt5, and there are many of them. I would suggest using low capital and low leverage to avoid large losses. I would also suggest using stop loss and also take profit. Also trade when there is a good trend like weekdays and not weekends and holidays. 

Link to comment
Share on other sites

As a newbie, you should invest with bonuses instead of your own money and post in forums for bonuses like forum.tradersunion.com or instaforex or mt5, and there are many of them. I would suggest using low capital and low leverage to avoid large losses. I would also suggest using stop loss and also take profit. Also trade when there is a good trend like weekdays and not weekends and holidays. 

 

yes, I like the idea to invest with forum bonuses and not with traders own money. newbies have no proper knowledge and experience and it will be a high risk if they are spend their money to trading in live account. to gain knowledge and experience, better if they are use money from bonus posting. and not risking their own money.

Link to comment
Share on other sites

  • 4 weeks later...

My tips for newbie is to practice in a demo as much as possible and open as many trades as possible cause its fake money and see how you lose and gain and make notes of those things and don't repeat them again in a real account. If you repeat them then you will lose and its your fault. Never trade impulsively like when you're in need of money or drunk or bored and have nothing to do. Only trade when you can make good profit. Always use stop loss in long term trade since the market can wipe out your account over night. 

Link to comment
Share on other sites

  • 2 months later...

First of all Forex necessarily mean - we've got to learn the complete operations that have performed the following. I would like in order to advise that you carry great deal of immediate currency trading article, currency trading background, furthermore very important currency trading trade area situation. It really is dissimilar to take time, anyone who has ideal organization talents will take ideal concern within just a couple of months. Yet I think devoid of be a whole yr no person acquire successful obtain.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

×
×
  • Create New...