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Roberto21
Aug 22 2019 at 07:48
364 příspěvků
discipline not only a human habit it also a character , to be experienced in discipline we have to be mentally strong first of all, otherwise no way to maintain

Imamul
Aug 23 2019 at 10:05
624 příspěvků
The beginner should use demo account minimum for three months, sometimes many brokers organize demo contest with real money prizing. Newcomers can join here. It could be great to acquire real trading exeprince.

marco_mmbiz
Aug 24 2019 at 14:22
366 příspěvků
Some 'beginners-tips' from me:
- start with a demo account, learn the best strategy for your own mindset (everyone is different) in more than 6 months. after that try with a low budget first (even if you could afford more)
- always use low leverages (if trading outside of MetaTrader)
- always use microlots first (depending on your account (your max. account leverage) and asset leverages (assets need to be tested))
- patience, a lot of patience! if you trade the 'professional way' with sl and tp, always respect them and also the charts. if you trade the 'semi-professional' or 'hedged way' use microlots or low leverages only combined with loads more of patience and professional charts analytics (best without any indicators) on higher time frames (D1, W1)
- never let your margin-level come to less than 1000% (if you trade with 0,01lot; with higher lot-sizes you might need to use an even higher min. margin-level), if it's lower it's gambling (you won't have any chance in a flashcrash scenario)
- never be a greedy person (also outside of trading); make some trading plans (maybe start a private trading journal with goals like 100, 50 or 30% per month, if not reached set them lower)
- use only 1 of your favorite indicators (and learn how it could work in your favor)

Examples:
- MetaTrader account with 1:500 leverage: always start with 0,01lot if your account is lower than 2k, use 0,02lot if the account is lower than 3k, and so on (only try with 1lot (or higher) if the account is higher than 100k)
- with non-MT accounts: if in the EU use the ESMA's max. leverages, if outside: use the same max. leverage as with an ESMA account (e.g. 1:30 for currencies, 1:10 for oil, 1:2 for cryptos and stocks, and so on)

Bongotrader (expkhaled)
Aug 25 2019 at 05:35
22 příspěvků
I think new comer should study first what is the forex and how it works. Then use demo account as long as you need. use various kinds of technics and choose what is easy and uderstandable. Need huge patience. try demo like real. Correct your mistakes. try again and again.

Day by day having better, better and better...
Roberto21
Aug 25 2019 at 07:21
364 příspěvků
experience traders dont depend on same trading strategies completely, they change their strategy according to market movements.

marco_mmbiz
Aug 25 2019 at 09:16
366 příspěvků
Roberto21 posted:
experience traders dont depend on same trading strategies completely, they change their strategy according to market movements.

I only have my very own strategy (for my mindset)... but yes., it fits to every market. 😉

Roberto21
Sep 07 2019 at 09:01
364 příspěvků
in Fx leverage is a very complicated issue , sometimes it bring profit very rapidly , sometimes it causes a great losses and risk in spite of having risk management , but after all its one of the major financial issue in Forex.  

Imamul
Sep 13 2019 at 10:17
624 příspěvků
practice can make you perfect , but in Fx we practice at random in demo and got nothing ultimately. si, i recommend micro account for practicing.

joha (joha51)
Sep 13 2019 at 14:27
11 příspěvků
1)go to class study technical analysis with pro teacher/mentor , Pick the strategy and practicing the strategy DEMO , Challenge yourself with 1k demo make it profit 600k with demo account
2) After success at least 80% win on that demo then open real account (micro or cent ) is recommended
3) Check the win/profit % ,DD% analysis ( Go to tab Mt4/MT5) Right click download report every Week (Saturday).Make weekly analysis with H4/D1/W1 chart & News Eco calendar for next monday.
4)If ready with your strategy and then try standard acc .
5) Use some profit ....If success then you find the programmer convert your strategy to robot /EA , Create EA to save your hard-work /strategy/idea on EA as portfolio of yourself..

Gabor33
Sep 13 2019 at 21:01
49 příspěvků
joha51 posted:
1)go to class study technical analysis with pro teacher/mentor , Pick the strategy and practicing the strategy DEMO , Challenge yourself with 1k demo make it profit 600k with demo account
2) After success at least 80% win on that demo then open real account (micro or cent ) is recommended
3) Check the win/profit % ,DD% analysis ( Go to tab Mt4/MT5) Right click download report every Week (Saturday).Make weekly analysis with H4/D1/W1 chart & News Eco calendar for next monday.
4)If ready with your strategy and then try standard acc .
5) Use some profit ....If success then you find the programmer convert your strategy to robot /EA , Create EA to save your hard-work /strategy/idea on EA as portfolio of yourself..


Open a forex beginners COMEDY tips topic and post it there :)

step 1 is to make 1k to 600k on demo??? that might take a lifetime, but staying on demo forever might be better for some ppl

to program a whole news calendar into an EA must be fun too.

risk management, trading psychology, fundamental analysis... all ignored in the list?

this topic should be about helping beginners

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