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New Trader

AliaDare
Jan 31 at 12:54
703 posts
New traders face many difficulties in trading. Trading is much easier if proper knowledge and trading education can be acquired. But you must acquire a trading education.

Paulo Jorge (djstick)
Jan 31 at 17:51
6 posts
just a quick question. Do I need to purchase a signal to work with the bot or the bot alone is enough?

Life is meant to be enjoyed
ElliotCooke
Jan 31 at 18:23
341 posts
What percentage you gain is important rather than how much you earn. Trader should have a target like 10% monthly gain.

dalbamou
Feb 01 at 07:48
4 posts
Totally agree, that data is very important.

deckwisp
Feb 02 at 09:11
25 posts
I think the most appropriate approach towards trading is to implement the knowledge. If you have done your homework for the past few weeks, then why not try the micro account. As per what I know, there are some brokers who offer micro accounts like Fxview, XTB, Oanda etc. You can invest a small capital and check your strategy. If you lose a trade then also it will not be a huge loss to your money. Just get a hang of the interface and start trading and keep learning side by side. In my view a technically sound person in trading does not fit in the category of a newbie. Also, a trading robot would not be beneficial for you and instead try to learn how you can make your custom bot (I know it can be pretty difficult but highly rewarding too).

Mohammadi
Feb 02 at 09:39
886 posts
In Forex there are some mandatory things we the traders always have to observe, if we want to ensure a successful trading life. The first thing, acquiring proper trading knowledge by learning. for that reason we can choose a broker which at all times make sure best trading environment for acquiring proper trading knowledge by providing exclusive educational facilities . it would be great to be a knowledgeable trader rapidly.

Chelsea Blacks (blackChelsea)
Feb 02 at 11:12
107 posts
Correctly said my friend. I too believe that nothing is more trustworthy than your intellect. If you have knowledge of the forex market and yet thinking to try robo trading, confidence is lagging somewhere. Just start from the micro or small lots, try to accept losses and learn from there.

Paulo Jorge (djstick)
Feb 02 at 16:37
6 posts
hello. can someone give me an answer to my last question please?

Life is meant to be enjoyed
wantspips
Feb 02 at 18:26
5 posts
djstick posted:
hello. can someone give me an answer to my last question please?

I can't answer that question, but the supplier of the robot probably can. I assume you are planning on using the MT4 terminal to implement your robot. MT4 calls them 'EA' or 'Expert Advisor'.
One thing you may not be aware of is that for consistent opening and closing of trades you need a rock solid internet connection that never fails if you are running the robot on your own computer. If the internet drops out on you even once, or the feed from your broker becomes interrupted even once when your robot is in a trade, that trade will not close, and you will have to manage that trade manually. If you don't, you could be in for a large loss, as the robot will lose the associated exit points for that trade whether it is a 'stop loss', or a 'take profit' exit.
The best way to ensure 100% up-time is to use a 'VPS' (Virtual Private Server). Your broker probably can connect you with a VPS firm that they deal with. You want it to have their servers as close as possible to the brokers' servers to minimize lags in computer communication between the two.
The lowest cost VPS service usually costs about $40.00 minimum per month, so factor that into your decision on whether to use your robot or not.
Happy Trading!

Start with EQUITY MANAGEMENT
Roberto21
Feb 03 at 08:37
364 posts
The best part of the forex strategy is money management –make sure every time you trade , you don’t risk more than 2-3% of you account otherwise you will break your account pretty soon. I learned that lesson from my own experience.

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