New in forex trading

Apr 23, 2017 at 06:52
Vistas 5,157
121 Replies
Miembro desde Apr 21, 2017   posts 1
Apr 23, 2017 at 06:52
I am in Africa. completely new in forex trading. infact I know nothing on forex trading. I have been reading about automated softwares and every software has pretty bad reviews. any advices? I really wanna do this but I need an experts hand
Miembro desde Feb 12, 2016   posts 522
Apr 24, 2017 at 13:28
Hello wleverts,

I believe there are a lot of information in the forum in terms of books for reading, tips, advises - just would be better to make a small research :)

For example - just the next topic 'Classic books about forex' may guide you in the beginning to create solid base for the beginning et least. :)
Miembro desde Apr 18, 2017   posts 920
May 27, 2017 at 16:49
You are welcome! Yes, maximum automatic service providers are fraud, that’s way you may see negative reviews! Even I believe automatic trading service is not a good solution for the novice traders! Try to learn Forex manually! Use all of popular Forex forums to learn trading techniques! By the way, if you are not interested on manual trading then you can go for automatic trading service, but again…….. be careful on selecting your trading partner!
LETZTRADE
forex_trader_432938
Miembro desde May 27, 2017   posts 4
May 29, 2017 at 06:19
It's a long road ahead for the complete beginner, and full of hazards. Why don't you start by completing the BabyPips School of Pipsology (free), and then visit sites that share strategies, i.e. Forex Strategies Revealed? Learning from other people's strategies can provide a fast-track into the market. Just remember to thoroughly test a strategy on a demo account before committing funds to a live account, and remember that money management is just as important (even more important) than market analysis! Good luck!
Miembro desde Dec 11, 2015   posts 1487
May 29, 2017 at 10:52
My recommendation is to read up on technical analysis theory and practice it for a while manually at least on a demo account just so you get an understanding of forex trading before you do anything else.
Miembro desde Apr 27, 2017   posts 16
May 29, 2017 at 14:47
Don't forget fundamental analysis. Almost all retail traders ignore this aspect but almost all pro traders focus on it.
Miembro desde Apr 18, 2017   posts 45
May 30, 2017 at 06:54
wleverts posted:
I am in Africa. completely new in forex trading. infact I know nothing on forex trading. I have been reading about automated softwares and every software has pretty bad reviews. any advices? I really wanna do this but I need an experts hand

Well, I appreciate your decision but please don’t rely on others reply! In this forum, you’ll get so many useful contents on automatic trading software’s! Just use all of them! Besides, you also can use others popular Forex forums to know details the advantages and disadvantages of automatic trading! Happy Learning!
Miembro desde Feb 12, 2016   posts 427
May 30, 2017 at 11:45
Well you can start with - https://www.babypips.com/ - this is a very good website for beginners. Helped me a lot back when I started learning. Search, read and analyze. There will be no one to come at you and say “Hey, do you want to learn Forex? I will teach you…” . You have to be constant and serious about trading. Dedicating most of your free time to it. Good luck!
Accept the loss as experience
Miembro desde Feb 12, 2016   posts 522
May 30, 2017 at 15:09
There are many books, articles, lessons in the internet - just do not blindly follow them.
Take it from there that each book, article and etc. need to help you to build up you own vision about the market, what is moving the market and how to trade. You will need it to create your own style fitting exactly for you.
Miembro desde Apr 18, 2017   posts 920
Jun 19, 2017 at 10:30
Bloomer posted:
Don't forget fundamental analysis. Almost all retail traders ignore this aspect but almost all pro traders focus on it.

You are right, maximum novice traders focus on only technical analysis! But no one can success here without learning fundamental I mean news analysis with details! Traders need a combo trading skill on technical and fundamental analysis!
Miembro desde Aug 09, 2017   posts 95
Aug 11, 2017 at 08:44
I think for the newcomers pips school is more appropriate which always ensures all important trading tips with essential terms and conditions.
Miembro desde Apr 18, 2017   posts 718
Aug 13, 2017 at 06:26
AniLorak posted:
Bloomer posted:
Don't forget fundamental analysis. Almost all retail traders ignore this aspect but almost all pro traders focus on it.

You are right, maximum novice traders focus on only technical analysis! But no one can success here without learning fundamental I mean news analysis with details! Traders need a combo trading skill on technical and fundamental analysis!

Yes, there is no way without fundamental analysis! Only technical analysis is not enough here!
Miembro desde Aug 11, 2017   posts 886
Aug 13, 2017 at 06:42
I am a new Forex trading and now am practicing in demo trading , but honestly I am losing interest in demo even though I earning profit . actually it looks at me as like a casino. Any advice from the senior ?
Miembro desde Dec 09, 2016   posts 49
Aug 13, 2017 at 13:40
Bloomer posted:
Don't forget fundamental analysis. Almost all retail traders ignore this aspect but almost all pro traders focus on it.

A short but extremely useful comment. Well said. Focus on it and after some time it won`t look like a casino.
Miembro desde Sep 13, 2017   posts 4
Sep 17, 2017 at 08:57

Starting with forex trading is not that difficult, you can start to register with the top brokers and try and test their trading conditions by making a demo account with them. When you think you have practiced enough and are confident enough with the trading conditions you can start with the live account with the best broker with better working conditions. Initially, start with low deposits and as you attain confidence in trading you can increase the amount of funds.
Miembro desde Aug 11, 2017   posts 886
Sep 21, 2017 at 06:46
In this volatile and risky trading place the traders who are particularly newcomers first of all have to know how to manage risk. Newcomers can minimize loss by set good risk management plan. To set it, first they should know the winning probability of their trading system or strategy and second, know how much loss accepted by their capital. By strict with risk management plan, newcomer will not suffer huge loss even though the market may be goes wild and beyond the trader analysis.
Miembro desde Jan 05, 2018   posts 5
Jan 07, 2018 at 07:40
When you trade in Forex, you are simply buying one currency using another. Therefore, the FX trader will always operate in currency pairs, and not each currency independently.
Miembro desde Dec 19, 2017   posts 10
Jan 09, 2018 at 07:54
wleverts posted:
I am in Africa. completely new in forex trading. infact I know nothing on forex trading. I have been reading about automated softwares and every software has pretty bad reviews. any advices? I really wanna do this but I need an experts hand



I wonder if this is the only means you use to learn? There are quite good online courses to be honest, they just deserve a little time.
Miembro desde Aug 09, 2017   posts 785
Jan 30, 2018 at 11:46
as a newcomer, my trading career I took demo account for trading practice and besides demo account I was continue in pips school which always ensures all important trading tips with essential terms and conditions , this learning and practicing combination took me a great result within 3 months .
Miembro desde Aug 27, 2017   posts 994
Jan 31, 2018 at 07:33
Imamul posted:
as a newcomer, my trading career I took demo account for trading practice and besides demo account I was continue in pips school which always ensures all important trading tips with essential terms and conditions , this learning and practicing combination took me a great result within 3 months .

What is pips school? Is this any Forex Course?
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