New to Forex

Jun 04, 2015 at 07:10
1,734 Views
33 Replies
Member Since May 09, 2015   1 posts
Jun 04, 2015 at 07:10
Hi all

I am new to forex and interested in the autotrading but i can see it needs to be a live account and i cant demo it

Is there people on here that are using the autotrading and if so can you leverage the persons trades that they are making to suit your budget (I.E if you are autotrading a certain person and they put a large trade on it does not wipe your account out automatically)

Any advise on stratagies are also welcome

Kind Regards
James
Fortune favours the brave
forex_trader_25447
Member Since Dec 21, 2010   131 posts
Jun 04, 2015 at 08:35
You are talking about COPY-trade, that is NOT AUTO-trade.
When you COPY , you can set SCALE for your account, to the original account.
I am not sure is that possible here, but it is on www.share4you.com
BOAR
forex_trader_250523
Member Since May 18, 2015   18 posts
Jun 04, 2015 at 13:49
Hi James,

Check out Darwinex (google it)
This is a broker that developed a platform for people to invest in the trading strategies of other Darwinex users who have enabled their trading strategies as 'investable'. They automatically take care of leverage based on your account size and your personal preference choosing between low, medium or high risk.
Member Since Feb 26, 2015   1 posts
Jun 05, 2015 at 08:11
@jimmyp84 I recommend you actually LEARN to trade, its a lot more gratifying rather then to rely on someone else and it will help you understand the forex market. This isn't easy but if you treat it like a business and respect it you will become successful.
GO BIG OR GO HOMELESS.
Member Since Mar 06, 2015   46 posts
Jun 06, 2015 at 15:40
jimmyp84 posted:
Hi all

I am new to forex and interested in the autotrading but i can see it needs to be a live account and i cant demo it

Is there people on here that are using the autotrading and if so can you leverage the persons trades that they are making to suit your budget (I.E if you are autotrading a certain person and they put a large trade on it does not wipe your account out automatically)

Any advise on stratagies are also welcome

Kind Regards
James


yes you can minimize the trading risk by percentage what ever you want to copy trades as you like it's very simple
“The past can't hurt you anymore, not unless you let it.”
Member Since Aug 09, 2017   785 posts
Apr 23, 2021 at 09:06
when i was a newcomer always fall a great trouble when using high leverage , its a very risky approach i have done and every time i have faced loses
Member Since Aug 27, 2017   994 posts
Apr 23, 2021 at 10:08
there is any newcomer in Forex who using forex signal consistently and can make good amount of profit. and some paid signal app really work to bring profit ? 
Member Since Mar 16, 2021   477 posts
Apr 26, 2021 at 00:39
Forex Risky Market And to survive in this risky market, I must acquire trading education.
Member Since Aug 07, 2020   75 posts
Apr 26, 2021 at 10:26
You can always learn everything the main desire and aspiration
Member Since Nov 02, 2020   34 posts
Apr 28, 2021 at 08:37
Malajind posted:
You can always learn everything the main desire and aspiration
Exactly. If a person has the desire to do something, he can achieve anything.
Member Since Dec 17, 2020   20 posts
May 01, 2021 at 09:08
Imamul posted:
when i was a newcomer always fall a great trouble when using high leverage , its a very risky approach i have done and every time i have faced loses
That happens when you go with a really high leverage like 1:100. I think it's best to use as little leverage as possible while a novice trader is still learning.
Member Since Aug 27, 2017   994 posts
May 01, 2021 at 09:38
Basically; which traders are with a learning approach; end of the day; they are enjoying their trading! As you know; Forex is all about learning & updating own trading skill.
Member Since Mar 16, 2021   477 posts
May 02, 2021 at 01:17
Yes, you can minimize the loss by trading the copy. And it is possible to get an idea of some important things in copy trading.
Member Since Aug 11, 2017   886 posts
May 02, 2021 at 08:27
the newcomers always try to bring profit with no learning , but this is not possible at all . almost 90% loser from this volatile trading place . so we the traders should be more careful.
Member Since Jul 19, 2020   788 posts
May 02, 2021 at 16:49
New traders should first acquire trading education. If you don't trade without trading education, it will be a bit difficult to make a profit.
Member Since Dec 21, 2020   26 posts
May 03, 2021 at 06:10
margaritastephen posted:
Imamul posted:
when i was a newcomer always fall a great trouble when using high leverage , its a very risky approach i have done and every time i have faced loses
That happens when you go with a really high leverage like 1:100. I think it's best to use as little leverage as possible while a novice trader is still learning.
But if they don’t use leverage, how will they make profits and actually get some experience?
Member Since Dec 17, 2020   20 posts
May 03, 2021 at 06:22
I'm not saying they shouldn’t use it at all. Just keep it as low as possible. This will help them understand and know how to handle their trades without risking so much. I dealt with a limit of I:30 with my previous broker and even though my new one turnkey forex offers 1:100, I don't go beyond 1:50. I like having a certain degree of control over my trades and high risks can just mess that up man. And for a newbie, in particular, a huge loss could be really disheartening.
Member Since Jul 23, 2020   869 posts
May 09, 2021 at 13:18
Learn trading first. Don’t eager to real trading without knowing about the market properly.
Member Since Jul 19, 2020   788 posts
May 16, 2021 at 17:21
Trading education is very important. It is not possible to be a professional trader without a trading education.
Member Since Mar 16, 2021   477 posts
May 17, 2021 at 01:10
You may be able to make a profit by trading copy, but I think trading by myself is the best. If you make a loss in this, you can expect bright prospects in the future by learning from that loss.
Sign In / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.