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Beginner's Tips

mariaartenia (mariaartenia)
Oct 30 2019 at 12:47
8 mensajes
jamesgwyther posted:
FPA is good too


FPA? what do you mean? Function Point Analysis?
its not always win technique.

Never stop learning from strangers.
Adribaasmet
Oct 30 2019 at 16:00
918 mensajes
mariaartenia posted:
jamesgwyther posted:
FPA is good too


FPA? what do you mean? Function Point Analysis?
its not always win technique.


Hi; as I know It’s ForexPeaceArmy; mainly Forex review site. It’s much popular site in Forex industry.

steveday1976
Oct 31 2019 at 11:57
50 mensajes
iDragonFly posted:
As a beginner, I think it would be fair if you trade with small amounts in cent accounts (after trading demo of course). with small amounts you taste the market in real conditions, you feel like how the revenge trading get started, letting losers run, entering trade without any plan (sl & tp etc...).

I have a newbie friend that he thinks he can't trade with small amounts like 100$ and I have told him it's a mindset and mental limit that you have put on your mind, it's not true because you don't see the amounts that you're trading with, it's the percentage that you're trading with, no matter 1$ or 1 billion dollar. if you're successful in trading with low amounts, you're also successful with large amounts and if you're not, no matter the size of your account, you can't be successful in the long term. so it doesn't matter with how much you start trading because only the net profit (in percentage of course) will give you the confidence to put larger amount into your account.

Money management is the most important key to long term successful trading. after that trading psychology and after that comes the knowledge of how to analyse the market!

But so many people put the last one first and think the most important thing in trading is how to analyse the market but the truth is you can't always be right and if you can't control your emotions and if you don't apply strict money management rules, you will end up destroying your accounts one after the other!
good, sensible advice.

Imamul
Nov 01 2019 at 03:55
564 mensajes
for beginners before choosing a broker its more appropriate to trade with a small account to see the real performance of any broker.

steveday1976
Nov 02 2019 at 15:20
50 mensajes
Imamul posted:
for beginners before choosing a broker its more appropriate to trade with a small account to see the real performance of any broker.
use demo first, then trade with small amounts is what i would advise.

1Daniel
Nov 03 2019 at 07:43
2 mensajes
Steveday1976
Small amounts like $10 ?

Professional4X
Nov 03 2019 at 09:27
1189 mensajes
1Daniel posted:
Steveday1976
Small amounts like $10 ?


Trade on demo with the broker you plan on trading live with.
The reason being that you want your Demo and Live conditions to be as close to each other as possible.
For small trading amounts such as $10.00, this is possible if your broker supports Cent accounts or other accounts which allow smaller than 0.01 (1000 units) in lot sizes.

If it looks too good to be true, it's probably a scam! Let the buyer beware.
Imamul
Nov 03 2019 at 17:15
564 mensajes
only randomly trading not means casino ,  to bring profit from casino is also a great skill but we don't support this skill , because its not legal , trading and casino there is no different if we greedy and emotional. so, we have to controlled our bad trading habits by discipline. 

Professional4X
Nov 04 2019 at 07:51
1189 mensajes
Imamul posted:
only randomly trading not means casino ,  to bring profit from casino is also a great skill but we don't support this skill , because its not legal , trading and casino there is no different if we greedy and emotional. so, we have to controlled our bad trading habits by discipline. 


Incorrect.

Randomly picking BUY or SELL is a coin flip entry technique. Random trading DOES mean casino style trading.

Casino style trading is NOT illegal.

Emotions have no place in trading.

Through automated systems it is trivial to manage the trades once they have been created.

Use a reasonable and realistic stoploss and a reasonable and realistic takeprofit targets,


If it looks too good to be true, it's probably a scam! Let the buyer beware.
steveday1976
Nov 04 2019 at 11:13
50 mensajes
1Daniel posted:
Steveday1976
Small amounts like $10 ?
Yes some brokers do allow small deposits like this. I would recommend starting with a bit more if possible.

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