New in forex trading

Apr 23, 2017 at 06:52
5,693 Angesehen
121 Replies
Mitglied seit Oct 09, 2018   9 Posts
Oct 09, 2018 at 10:16
voketexpert posted:
Multi-demo accounts are a good idea.
You need persistent technique in a long time.
Remember the fatal factor, your mental.
.

Why is multi-demo account better than one demo account? I do not understand what benefit this could bring
Mitglied seit Oct 09, 2018   41 Posts
Oct 10, 2018 at 10:02
1. Focus on the Process and the Profits Will Follow
2. Trying Harder Is the Worst Thing You Can Do
3. Take Responsibility for Everything
4. When in Doubt, Do Nothing

Mitglied seit Aug 11, 2017   886 Posts
Oct 10, 2018 at 14:48
Knowledge is the key to success in Forex. There is nobody who can make success from here without knowledge . so we have to emphasis on acquiring real trading knowledge and we can get most powerful analyzing trade knowledge by passing a long time. Otherwise that’s not possible at all.
Mitglied seit Aug 09, 2017   785 Posts
Oct 12, 2018 at 05:57
I have seen so many forex trader always consider high leverage at risk , but I don’t consider it at all. if there is any risk it is completely with non-sense planning and zero risk managing plan , nothing to do with high leverage at all.
Mitglied seit Apr 18, 2017   920 Posts
Oct 19, 2018 at 05:39
yellowman94 posted:
1. Focus on the Process and the Profits Will Follow
2. Trying Harder Is the Worst Thing You Can Do
3. Take Responsibility for Everything
4. When in Doubt, Do Nothing


Point number 5 is, try to demo until you are consistent! Because I see, a number of new traders try to jump for live trading too early.
Mitglied seit Aug 16, 2018   11 Posts
Oct 24, 2018 at 07:37
AniLorak posted:
yellowman94 posted:
1. Focus on the Process and the Profits Will Follow
2. Trying Harder Is the Worst Thing You Can Do
3. Take Responsibility for Everything
4. When in Doubt, Do Nothing


Point number 5 is, try to demo until you are consistent! Because I see, a number of new traders try to jump for live trading too early.

6. Patient and discipline are the key to make all the points go smooth.
Mitglied seit Oct 13, 2018   10 Posts
Oct 24, 2018 at 10:11
Accept that there will be losses. No trader gets it right 100% of the time. Many trader have losing months so don't freak out of you win one week and lose the next
Kalamo
forex_trader_538373
Mitglied seit Jul 07, 2018   108 Posts
Oct 26, 2018 at 09:15
My advice for new traders is make sure that you have enough knowledge and tools to trade this market. There is always a winner and a loser, just pick your side. You are the only one who has the control over your entries and exits. A very important point that helped me after I started was to split my capital into many different accounts and use different trading strategies. You cannot always win but you cannot always lose (unless you are really not made for this). Be patient, do not overtrade, analyze the market and watch out for high impact news releases.


I wish everyone a happy and safe trading, there is a lot of money to make on the Forex market but there is also a lot of money to lose. Be patient, be careful and ask for advice if you don't know how to trade this market.
Mitglied seit Oct 26, 2018   10 Posts
Oct 28, 2018 at 07:41
Keep trying. If you blow 4 demo accounts then try a fifth. You will never get anywhere without trying and persistance.
Mitglied seit Jan 25, 2010   1360 Posts
Oct 28, 2018 at 08:51
Before you start (or if you are still struggling in forex), please read this:
https://optimusfutures.com/tradeblog/archives/3-tips-to-trading-unpredictable-markets/

...and this:
https://optimusfutures.com/tradeblog/archives/how-to-look-past-your-trading-biases/

...and this:
https://dailypriceaction.com/articles/is-forex-trading-gambling

My suggestions:
- Don't trade with less than $10,000 (read: under-capitalisation)
- Don't open large positions when you start (read: over-leveraging)
- Don't believe ANYONE that claims they are an expert and can read the market and guarantee your returns! (read: scammers)
- Don't buy any system, product, course, materials, etc. that promises to make you a professional trader! (read: fantasies)
- Save your money for trading, not for products, systems, etc. (read: costs of doing business)
- There is no shortcut to success: read everything, learn, practice, adapt (read: study)
- Be prepared to lose, and be prepared to lose more than once. Only risk money you can afford to lose (read: failures)
- Have PATIENCE: if a trade is going against you, re-evaluate, but don't just close it because you are unsure or afraid. Have some tolerance to risk, to drawdown, to being wrong a little bit. The market is UNPREDICTABLE, news can happen and change the entire market dynamic in your favor. Manage the trade exit rather than simply closing a losing trade. Use higher timeframes.
- Lastly, DO NOT GIVE UP: success does not come easy, anything worthwhile is hard (read: determination)
Mitglied seit Oct 09, 2018   21 Posts
Oct 28, 2018 at 08:51
Babypips school. First thing to do.
Mitglied seit Apr 18, 2017   718 Posts
Oct 28, 2018 at 08:53
Kalamo posted:
My advice for new traders is make sure that you have enough knowledge and tools to trade this market. There is always a winner and a loser, just pick your side. You are the only one who has the control over your entries and exits. A very important point that helped me after I started was to split my capital into many different accounts and use different trading strategies. You cannot always win but you cannot always lose (unless you are really not made for this). Be patient, do not overtrade, analyze the market and watch out for high impact news releases.


I wish everyone a happy and safe trading, there is a lot of money to make on the Forex market but there is also a lot of money to lose. Be patient, be careful and ask for advice if you don't know how to trade this market.

You are absolutely right! New Forex traders should focus on their learning process! Forex trading is too much risky without proper trading knowledge & experience.
Mitglied seit Nov 01, 2018   14 Posts
Nov 01, 2018 at 14:25
read as much as you can before starting to trade. then start with demo and then when you think you are ready to go live open a micro account.
Mitglied seit Aug 11, 2017   886 Posts
Nov 15, 2018 at 07:59
Newcomers always attacked by the greed and fall a great trouble when trading practically. We cannot avoid greed and emotions. Because this is a part of common human nature but we can be discipline which can support us to control greed and emotions.
Mitglied seit Oct 11, 2018   9 Posts
Dec 03, 2018 at 12:27
There are a lot of things needed to be mentioned. Courses are good but most course providers haven’t actually traded. Half of them are just bringing clients to brokers to earn commissions. I prefer some trusted platforms https://fx-list.com/stock-forex-brokers. It is the best list to start without losing money. If you did find a neutral educator then great but most are not but will pretend they are. So I would say don’t waste too much time finding people to teach you.
Mitglied seit Aug 11, 2017   886 Posts
Dec 16, 2018 at 09:03
For leading a secure and profitable trading life with certainly we the traders have to choose in regulated trading broker which guarantee their clients funds. Only regulated trading broker make sure security of funds at any deposits with a wide range of trading technologies.
Mitglied seit Apr 01, 2020   231 Posts
Jun 24, 2020 at 00:08
My recomendation is you must learn the Forex first and babypips school is the best place where you can learn and gain lot of knowldge about forex trading.
Mitglied seit Jul 20, 2020   232 Posts
Aug 18, 2020 at 19:00
IF you are new in this market, you need to be very careful. First of all, be careful when you choose a broker for you. Than be careful when you make a plan for you \r trading to make profit.
Mitglied seit Jul 19, 2020   788 Posts
Aug 21, 2020 at 07:17
New traders are usually very ignorant about the subject of trading, which is why they need to learn a lot. If he does not learn to trade, he may lose his entire deposit. So I always suggest new traders learn and join trading. There is a lot to learn in trading. New traders can do demo trading to gain basic knowledge. I used the demo account of Eurotrader at first to know the basics, Still, I am trading under this broker.
Mitglied seit Aug 11, 2017   886 Posts
Aug 21, 2020 at 11:52
as newcomer Honestly speaking, if you want to get maximal result by scalping first of all you have to make sure lowest trading spreads which is very supportive to make profit with certainly by using any kinds of trading strategies in particularly the scalping that brings profit in a short time. Actually from all trading elements spreads is mainly considered as an important financial tool which an investor should consider when choosing a broker.
Anmelden / Registrieren to comment
You must be connected to Myfxbook in order to leave a comment
*Kommerzielle Nutzung und Spam werden nicht toleriert und können zur Kündigung des Kontos führen.
Tipp: Wenn Sie ein Bild/eine Youtube-Url posten, wird diese automatisch in Ihren Beitrag eingebettet!
Tipp: Tippen Sie das @-Zeichen ein, um einen an dieser Diskussion teilnehmenden Benutzernamen automatisch zu vervollständigen.