Beginner's Tips

Gabor33 posted:

joha51 posted:
1)go to class study technical analysis with pro teacher/mentor , Pick the strategy and practicing the strategy DEMO , Challenge yourself with 1k demo make it profit 600k with demo account
2) After success at least 80% win on that demo then open real account (micro or cent ) is recommended
3) Check the win/profit % ,DD% analysis ( Go to tab Mt4/MT5) Right click download report every Week (Saturday).Make weekly analysis with H4/D1/W1 chart & News Eco calendar for next monday.
4)If ready with your strategy and then try standard acc .
5) Use some profit ....If success then you find the programmer convert your strategy to robot /EA , Create EA to save your hard-work /strategy/idea on EA as portfolio of yourself..

Open a forex beginners COMEDY tips topic and post it there :)

step 1 is to make 1k to 600k on demo??? that might take a lifetime, but staying on demo forever might be better for some ppl

to program a whole news calendar into an EA must be fun too.

risk management, trading psychology, fundamental analysis... all ignored in the list?

this topic should be about helping beginners

No harm just my experience view , 1k to 600k it just a challenge for newbie how to set target , most people using % of profit and ignoring DD% (risk management) it will come bad result with 1k to achieve 600k ( trading psychology) ,some says if we set target 200 hours for training most people will exhaust & unmotivated .The result will different . or if the set target i to high then make low such 50-200k..

Forex is about accurate , confident , knowledge & experience . Lets say you do 1000 trades with USD10k profit or 10 trades with 10k profit - its totally different practice.

Using demo acc the psychology level is not too complicated - if we blow the account then just re deposit the fund..

Do H4 d1 Weekly analysis & Eco Calendar - is fundamental analysis

Using News/ Eco calendar set up at EA is possible . Set up variable parameter - on High Impact News -/Medium / Low Its will enable/disable the automation Trading (Robot) operation before news and after news release , Now days lots of EA in market has this feature.

In Fx trading the bonuses we get from our trading brokers practically cannot use in a proper way due to many restrictions. So, we have to choose the regulated trading broker, otherwise it is useless to have 100-200% bonuses which cannot use in a proper way due to many restrictions.

initial capital how can irrelevant i don't know . according to me, its much important , any smart initial amount can make you more confident when trading in practical. so we cant avoid the importance of this at all.

Roberto21 posted:
initial capital how can irrelevant i don't know . according to me, its much important , any smart initial amount can make you more confident when trading in practical. so we cant avoid the importance of this at all.

The more you have the more you can make sure...…..IF you know what you are doing.

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 .

Read, research and learn. FX markets are really volatile and you have to be on toes to keep a track of price fluctuations and reasons for the same. Keep your yes and ears alert.

Practice hard on a demo acc , make trading plans and stick to them. Learn from your mistakes, avoid emotions while trading and most importantly, remaining calm.

At the end, you are responsible for your trades , so blaming your broker or destiny is not a good thing to do.

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.

expect huge amount of profit means unrealistic trading target , this kind of target always make us greedy which is the main reason for over trade with no analysis.

In Fx trading, Choosing a right broker is very difficult task, because there are almost thousands broker in online retail Fx market and most of them are found to be scams. Regulated trading broker can be a great choice which for all time makes sure security of funds at any deposits with a wide range of trading technologies.

success is a temporary issue ,
 it can make everyone but who can make it consistently we can consider him as a professional guy.

leverage is a very complicated issue in Fx trading , sometimes it bring profit very rapidly , sometimes it causes a great losses and risk in spite of having risk management , but after all its one of the major financial issue in Forex.  

Roberto21 posted:
leverage is a very complicated issue in Fx trading , sometimes it bring profit very rapidly , sometimes it causes a great losses and risk in spite of having risk management , but after all its one of the major financial issue in Forex.  

Leverage is not an issue.
It is a tool which can be used properly or improperly.
Because bunch of werte abusing it as result there are ESMA and other regulations.
Because of these regulations people are moving from safe regulated enviroment to unsfafe unregulated enviroment. Which may result of complete loss of their deposit!

for beginners Learning is the foremost ways to keep survive in this volatile trading place in a proper way. But sorry to say maximum traders who are particularly newcomers try to make money from here without learning. As a result they become loser when trading practically. It would be great if we choose the broker which always ensures best trading environment for learning this trading place by providing exclusive educational facilities.

FPA is good too

learning is the main job for novice traders, and they should start their learning from technical-fundamental-sentimental! If they start from sentimental then they would lose their momentum so easily! I see, generally all of novice traders are too hurry, so please don’t expect here instant result!

sometimes we try to confirm brokers real performance by using demo trading , but in practical lots of difference there is between demo and live on a broker.

I cn testify that the is a great difference between demo n live accounts

as a newcomer , learning Forex now already easy actually because many source we can learn and read from these sources , yes Baby pips is almost popular website among trader to learn Forex on school tab section , but also will very important while learn on theory also use demo account to practice .

the most important trading tip , i think try to manage your money when trading in practical , only money management can change your trading life , otherwise no way to survive in here with successfully.