Beginner's Tips

i dont get it how would i take profit and it will add up to my deposit balance?is it i close always the trade? example USDJPY and AUDUSD? sample computation.thank you

forexcyborg posted:

Mohammadi posted:
I have seen mostly brokers don’t allow scalping in their trading platforms. So we the traders who are particularly scalpers have to choose our broker carefully. First of all we have to ensure brokers trading spreads , actually without lowest trading spreads that’s not possible at all to make profit with certainly in spite of having good trading knowledge .

Only MM (=Market Makers) broker would not allow scalping. Better avoid such brokers and search for real A-Book brokers with low trading costs.

hi forexcyborg i have an issue with my ea it apperas in trading status waiting for the trade timeframe but im already in 15 min chart and dont start trading what can i do

As a beginer, you do not need to have much capital in your trading account yet. Even if you have a lot, never trade with all your capital at once. Learn as much as possible about risk management, and do not risk a high percentage of your trading capital at any given time

The whole secret is only to remember your preferences and stick to your strategy even when you really want to sin and break all the rules. It seems to me that the accuracy and literacy of the work can ensure a positive result - everything else.... is just luck...

Yozuru posted:
The whole secret is only to remember your preferences and stick to your strategy even when you really want to sin and break all the rules. It seems to me that the accuracy and literacy of the work can ensure a positive result - everything else.... is just luck...

just find a way to control your mind, especially greedy mind.

Forex is 20% strategy and 80% mind set. Risk management and risk/reward is key!

if you are a newcomer , i request dont skip anything ,
 is all important for you to bring good experience as a newbie. so, focus on there with regular practice.

beginners lost discipline when they fall a great loss,
 in that time they always try to recover all losses by over trading. its just a part of immature attitude.

New Forex traders should concentrate on only demo, I mean learning! Without proper trading knowledge, it’s quite impossible to be a good performer!

for any traders Money Management is important; you have to make sure your base line; I am talking about the trading strategy here! Fixed & keen trading system is the key.

Using a good profit to loss ratio (2:1, 3:1, 4:1) helps you to get an edge on winning long term. Even if you have a strategy that brings you a 50% win rate you will still be in profit long term.

Start low; patience and practicality is the key.

I feel the same way about newbies. A lot of them come to the forum and they're like, 'Oh, how do you do stuff here, give me some advice!' And you don't even know what to write back to this question. Yes, when they ask some general questions, that's great. When they ask questions like 'What leverage do I have to choose' or 'How much money do I deposit', it's just something... It's like they don't understand that there are more personalized questions, that more difficult to answer without knowing the information about the trader himself.

Poolut posted:
I feel the same way about newbies. A lot of them come to the forum and they're like, 'Oh, how do you do stuff here, give me some advice!' And you don't even know what to write back to this question. Yes, when they ask some general questions, that's great. When they ask questions like 'What leverage do I have to choose' or 'How much money do I deposit', it's just something... It's like they don't understand that there are more personalized questions, that more difficult to answer without knowing the information about the trader himself.

I think despite these questions...we can try to help them out..It is not we are being forced to do so...if you do not want to answer, you can ignore it...atleast that's how i see it.

Poolut posted:
I feel the same way about newbies. A lot of them come to the forum and they're like, 'Oh, how do you do stuff here, give me some advice!' And you don't even know what to write back to this question. Yes, when they ask some general questions, that's great. When they ask questions like 'What leverage do I have to choose' or 'How much money do I deposit', it's just something... It's like they don't understand that there are more personalized questions, that more difficult to answer without knowing the information about the trader himself.

I feel its best to give them a direction or reference to read because most every trader is unique in their ability to trade the market plus the strategies vary. I have been reviewing some of the Mark Douglas videos and it has upgraded my approach to the FOREX market strictly from a psychological point of view. The questions provided above have to be answered and researched by the trader. No one else can advise them on this because only they know how much to risk in their unique situation once fundamental knowledge has been achieved regarding how to read the charts, indicators & platform operation. This is only my opinion on the situation your describing Poolut.

For successful trading, you need to work out all the nuances

Always make sure to keep risk and money management in mind while trading. I would say that this is one of the important tips for them.

The demo account is really important for all kinds of traders in particularly the newcomers. in my trading career, after passing a long time I still depend on demo account for some inevitable reason, I use all my trading strategies first of all in demo account to see the performance how it works. this approach always helps me for avoid risk in live account when trading practically. What is your experience in demo ?

As a beginner, it is important to go step by step. Grab some knowledge, practice on demo account and then jump to real trading. Learn and earn.