It’s not appropriate to depend fixed rule, if we want to survive in a proper way. it is really important to gather keep pace with this markets movements. Sometimes the rules you have can be changed. it’s really depends on the situations.
Imamul posted: It’s not appropriate to depend fixed rule, if we want to survive in a proper way. it is really important to gather keep pace with this markets movements. Sometimes the rules you have can be changed. it’s really depends on the situations.
Yes. Every trader should follow the market conditions.
As per my opinion, simple trading tips for beginners are as follows. · Choose a dependable broker to eliminate chances of scams · Understand the market you are planning to trade · Learn about how the market works · Begin trading on a demo account to learn · After sufficient practice when you have gained confidence, go for live trading. · Seek the help of a mentor if required · Trade in a disciplined manner and stick to your plans always
demo is a place to prove yourself how can you handle trading strategies you have , so, don't ignore the demo , you suggest 3-4 months to stay in here , its a long time for beginners level to keep patience in here, that's why i prefer minimum 1 months for that.
For leading a secure and comfortable trading life with certainly we have to choose the broker which does not restrict any kinds of trading techniques with scalping and hedging. Practically despite of a profitable trading approach scalping don’t allow by and large trading brokers in their platforms. So, we the traders who are particularly scalpers have to choose the broker which permits scalping including lowest trading spreads.
These are really good tips for the newcomers. I would also add the tip about trading plan and risk management. I believe that these concepts should be learnt in very beginning in order for a newbie to understand that successful trading presupposes much of analysis and planning and before opening a deal, you should have some more or less realistic expectations of it.
mdsh7864 posted: As with starting any career, there is a lot to learn when you're a day trading beginner. Not only will you need to decide what to trade and how much capital you'll need, but you'll have to get the proper equipment and software, determine when to trade, and of course, how to manage your risk.
Many day traders already have lots of market experience when they begin their new business ventures. Because it can cause you to lose a great deal of money very quickly, you may have to choose whether to work full time at the venture.
That can allow you to watch the market continuously and make trades at the perfect times.
here are some day trading tips: 1. USE THE ECONOMIC CALENDAR AND NEWS The first trading tip deals with the economic calendar and the news. The Economic Calendar is an essential tool for any trader. Whether short-term day traders or long-term swing traders, economic news always has an impact on the markets.
2. The demo account for beginners and advanced traders The trading demo account is very important for beginners and advanced traders to test trading platforms, strategies, etc. It is a virtual credit account that imitates real money trading. The terms and conditions are the same. The demo account allows the trader to trade without risk.
3. Choose cheap and reputable brokers This is probably the most cost-effective trading tip for the trader. With more than 9 years of experience, we have tested many brokers and looked for the best providers. Trading fees can be extrapolated to the year, so you should definitely look for a cheap broker. Alone with a saving of 1$ per order opening, a very large sum comes out calculated on the year.
It is difficult to pass on simple tips within such a difficult and complex market. But I'll try following the order that our colleague placed above... 4 – Understand who the market participants are, and why they participate in the market (this will give more insight into how the price works, and how they manipulate its direction) 5 – Begin to understand the frequency of the market, and realize that in many moments there are patterns that are repeated. 6 - Try to understand why the price made a certain movement. (because despite the randomness, there are some explanations for movements) 7 – Record the screen while operating. (this will help you see how the market has moved)
When I remember other tips, I'll come back here to post!
its a very nice reply from all there is. thanks for your nice post.
The traders who are particularly newcomers always looking for a bonus to trade comfortably. According to me, we newcomers have to take any kinds of bonus from only regulated trading broker, otherwise it is useless to have 100-200% bonuses which cannot use at all due to margin stop outs.
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.
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