Reitings: Empty Star Empty Star Empty Star Empty Star Empty Star
How to build your first real account.
Iepriekšējās 1 2 Nākamais
snapdragon1970

Biedrs kopš Sep 12, 2015  1709 ieraksti kieran (snapdragon1970) Jun 19 2017 at 20:29
I have been asked this many times by traders and people just starting out with investing, everyone has different reasons for going down this path, too many to mention. Some people I have spoken to have a clear plan of how they want to approach this, others heard from some guy down the pub . No matter what way you approach this education is a must ,now on to the nitty gritty ,what account size would I start with if I was starting out, anything less than 10k is going to be really difficult, this should not be your life savings or a loan, sort out any debts before you even think of investing or trading. Having a full time job you might be able to put some money away until you can start trading. Trading forex is really difficult so you are going to need your witts about you, make those first few trades with as little risk as possible 1% is more than enough to begin with and a reasonable upside 3:1 etc, the name of the game here is stay as close as possible to your initial balance, one of those first trades you will get right so plan to have many tiny losses, its part of trading ,looking back at what you did wrong has no bearing on the future if you are sticking to a clear plan. Keep up to date with news events making sure your trades are closed before hand, find something else to do at times like this so you wont be tempted to make a quick buck and get hammered. Don't try to force trades that are not their, wait for the trade to come to you, a major support area on the longer time frames, check trends on multi time frames. How will I know when to close a trade? that takes experience and conviction for sure, sometimes there will be signals don't ignore them. If your trading account is going down hill take a break and do something you enjoy. The market will have changed in the mean time instead of trying to fight it.

"Fratres! Three weeks from now I will be harvesting my crops. Imagine where you will be, and it will be so. Hold the line. Stay with me. If you find yourself alone, riding in green fields with the sun on your face, do not be troubled; for you are in Elysium, and you're already dead! Brothers, what we do in life, echoes in eternity."
AniLorak

Biedrs kopš Apr 18, 2017  209 ieraksti AniLorak Jun 20 2017 at 06:21
Well, I have opened my live trading account after practicing my demo for one year! When I was a consistent performer in my demo then I started my live journey! As a result, till now I have no experience on MC in my live account! I am hopeful about my live trading success!

LouAtWork

Biedrs kopš Jun 20, 2017  2 ieraksti Louis (LouAtWork) Jun 20 2017 at 06:22
Hi there,

any recommended brokers to start with?

to know and not to do it is not to know - by someone impt.
snapdragon1970

Biedrs kopš Sep 12, 2015  1709 ieraksti kieran (snapdragon1970) Jun 20 2017 at 09:56
LouAtWork posted:
Hi there,

any recommended brokers to start with?

Two that I use Plus500 and Dukascopy,never had any problems with them, within 3 working day I always get my money.

"Fratres! Three weeks from now I will be harvesting my crops. Imagine where you will be, and it will be so. Hold the line. Stay with me. If you find yourself alone, riding in green fields with the sun on your face, do not be troubled; for you are in Elysium, and you're already dead! Brothers, what we do in life, echoes in eternity."
TiffanyK

Biedrs kopš Feb 12, 2016  306 ieraksti Tiffany (TiffanyK) Jun 22 2017 at 15:13
Thank you for sharing @kieran . Also Plus500 is a new name for me. Will investigate them. Cheers!

Accept the loss as experience
L3CAP

Biedrs kopš Sep 29, 2016  126 ieraksti L3CAP Jun 22 2017 at 17:45
I am in the process of doing this guys, I am depositing monthly to my broker small amounts of money and trying to get good trading done at the same time. Slowly slowly the deposits add up, and now the hard part is growing the account with some good trading! Getting better at it though.

Choose a regulated broker that does not charge for deposits or withdrawals (I use Tickmill FCA and used to use Pepperstone too they are good).

If you cant afford a decent sized trading account just deposit $100-$500 and over a few months it will build up! and watch your risk on your trades in the meantime!

ourmyfxbook@
derf

Biedrs kopš Jun 15, 2017  1 ieraksti derf Jun 23 2017 at 11:19
hi

snapdragon1970

Biedrs kopš Sep 12, 2015  1709 ieraksti kieran (snapdragon1970) Jun 23 2017 at 12:28
L3CAP posted:
I am in the process of doing this guys, I am depositing monthly to my broker small amounts of money and trying to get good trading done at the same time. Slowly slowly the deposits add up, and now the hard part is growing the account with some good trading! Getting better at it though.

Choose a regulated broker that does not charge for deposits or withdrawals (I use Tickmill FCA and used to use Pepperstone too they are good).

If you cant afford a decent sized trading account just deposit $100-$500 and over a few months it will build up! and watch your risk on your trades in the meantime!


One can plan trading around events so keep an eye on the calendar, there is no need to trade every day, I only trade when I see something interesting.

"Fratres! Three weeks from now I will be harvesting my crops. Imagine where you will be, and it will be so. Hold the line. Stay with me. If you find yourself alone, riding in green fields with the sun on your face, do not be troubled; for you are in Elysium, and you're already dead! Brothers, what we do in life, echoes in eternity."
snapdragon1970

Biedrs kopš Sep 12, 2015  1709 ieraksti kieran (snapdragon1970) Jun 24 2017 at 18:11
What I do as well is keep an eye on the stock market, if something has sold off 10% or more I start doing some research, its more of a longer term play, better with companies I've never heard of to avoid bias.

"Fratres! Three weeks from now I will be harvesting my crops. Imagine where you will be, and it will be so. Hold the line. Stay with me. If you find yourself alone, riding in green fields with the sun on your face, do not be troubled; for you are in Elysium, and you're already dead! Brothers, what we do in life, echoes in eternity."
AniLorak

Biedrs kopš Apr 18, 2017  209 ieraksti AniLorak Jun 26 2017 at 06:18
LouAtWork posted:
Hi there,

any recommended brokers to start with?


Please, check their regulation status first! Then go for all of popular review sites, read traders complain and option so sincerely! As a new trader, try to select which brokers are active on educational features and programs!

Iepriekšējās 1 2 Nākamais
Producer Price Index (YoY) (2h 2min)
S. Korea’s Moon calls for action against...(5 min ago)
EURUSD 1.24069 GBPUSD 1.40152
USDJPY 106.579 USDCAD 1.25447
FxPro

Tools

Kopiena

Apskats

Brokeri

Platforma

Atbalsts


Twitter |  Facebook |  Lapas karte  |  Noteikumi  |   Privacy Policy
©2014 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.