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Beginner's Tips
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Tradelist45

Member Since Jun 26, 2020  49 posts Tradelist45 Jul 17 at 08:37
for beginners Demo is the most decent way of learning Forex , as beginner I also use back testing feature of Mt4 trading platform. Yes, no doubt demo is useful, but it’s a slow process! Besides, back testing is quick process! I used back testing after practicing my demo for 5 months.

Adribaasmet

Member Since Aug 27, 2017  859 posts Adribaasmet Aug 05 at 12:09
loss is a thing that always taught us a great lesson but we generally cant take this general issue, we got upset when making losses and trade over and over for recovery, as a result, lost almost whole equity.

CirillaCosta

Member Since Jul 19, 2020  34 posts CirillaCosta Aug 10 at 08:19
If you are new in this market, You need to be very careful when you are going to trade. Because this is a very risky market. Many traders lose their money in this market because of making wrong decisions.

LeviSievwright5

Member Since Jul 20, 2020  150 posts LeviSievwright5 Aug 11 at 16:26
Trading in Forex requires a lot of patience. It is impossible to trade without patience. In most cases, new traders become impatient and face losses by over-trading. New traders should usually practice demo trading. New traders can learn a lot from online. They can learn from Google and YouTube. You need to learn to trade. If you don't learn to trade, you will lose. For this, you have to do this work in the gap of learning the demo.

Dictiony

Member Since Apr 01, 2020  130 posts Dictiony Aug 13 at 00:49
expkhaled posted:
It you want right mind set the just trade with Demo as long as you can. Bcz you can find traders primary level from demo. And gather knowledge step by step and use it in demo. Hopefully within 2 yrs you will find a way to trade. When you are learner about forex plz away from real trade.

Yes, I am agree with, deom trading is very useful for a newbie for learning and a newbie can practice more and more with demo to get good knowledge and level of experience.

HenHen2020

Member Since Aug 14, 2020  2 posts HenHen2020 Aug 14 at 09:58
FxFTradingGroup posted:
“I’m just a beginner in Forex, how much should I put in my account?”

This question bugs me all the time. Its like walking into a casino, and asking the people around you, ‘hey how many tokens did you change?’

Seriously dude. Everyone has a different answer, some experienced people might help you (if they are kind hearted) but most people will not care how much you win or lose. You should treat forex as a form of investment, but please DO NOT use all of your income as your token to bet on the market. You might win once, twice but you will not be that lucky all the time. Spend some time and do financial planning, set aside daily expenses, insurance etc. And once you find extra money, you can then decide whether to use them for investment, or to help the needy.

For beginners, you might want to consider ‘choosing a broker’ as one of the important choices of all time. Broker can make or break your faith in trading. Next, pick a mentor. Be it a book, a youtube channel, a guru you found online or through friend’s recommendation, do just rely solely on that ONE source of information. Gather as much information as possible, talk to more people, read forum threads so that you will gain knowledge that might be useful for you in the future.

However, some people might still choose the easy way out and opt to follow the signals of the ‘chosen one’. Not to say this is the bad approach, like I said, this is a form of investment, you are free to choose what sort of investment approach you prefer. However, I’d like to call out to those investors, you might want to check the account history of the chosen one before subscribing to his signals. The results might look good on their profile, but you have no idea how many positions and how much losses they have yet to close, so people with smaller wallet size than the chosen one might not be able to follow the signals that smoothly. Hence you might want to check with the chosen one how big would they recommend you to have in order to follow their signals.

Last but not least, I’d like to emphasize the size of an account is not as important as knowing your own trading strategy or style. I’ve seen someone trading with just a $100 account, and has grown the account 10 times its size. I’ve also seen someone with $50,000 blown overnight. So it doesn’t mean that bigger wallet size is safer for trading. Smaller account is more prone to blow, but with own strategy and right mindset, you will find big potential in this forex business.
[/ Hi Guys I'm new to trading, is there any South Africans here that has some experience under there belt regarding Brokers to use in SA
]

HenHen2020

Member Since Aug 14, 2020  2 posts HenHen2020 Aug 14 at 10:07
Hi Guys,

My name is Hendrik I'm From South Africa.
Im new to the whole Forex Trading experience, but have been fascinated by it for some while now. I have already complete a course on Udemy called Complete Foundation FOREX Trading Course. Currently busy with a course on Baby Pip on Forex.

Is there any experienced SA Day Traders to advise on Brokers in SA?

Thank you for such a helpful community.

LeviSievwright5

Member Since Jul 20, 2020  150 posts LeviSievwright5 Aug 14 at 14:35
Trading is a very risky business. Not everyone can do that business. If you want to do this business, you have to be emotionally strong. If you want to do forex trading, you have to gather a lot of information. And first, you have to practice the demo. In addition to practicing the demo, you have to learn from a good mentor and collect a lot of information online. You have to manage risk and trade. A maximum of 2% risk can be taken in a trade. As a beginner trader, you need to select a good broker. when I started my trading carrier, I had no knowledge about Forex. I learn the basics with the help of Eurotrader markets.

Imamul

Member Since Aug 09, 2017  518 posts Imamul Aug 18 at 11:07
Everything is uncertain in Forex market, so the newcomers always feel frustrated when trading. So before kickoff live account we have to make sure sufficient trading balance that can remove our frustration , otherwise it will be great difficult to survive in this volatile trading market.

Adribaasmet

Member Since Aug 27, 2017  859 posts Adribaasmet Aug 22 at 11:26
According to my personal trading experience, Price Action trading system is the best. It’s the most flexible one! Since you can use any kind of trading instrument here including crypto’s.

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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.