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New Forex Trader Here
Feb 24, 2019 at 08:12
Medlem sedan Feb 08, 2019
57 inlägg
dwaynerapley posted:
Hey all - newbie here from London.
Having just finished the Babypips course and read Mark Douglas' Trading in the zone, I'm keen to develop my learning and build a system that will eventually get me out of my 9-5 and fully into swing trading. Pray for me!
I've actually been offered a chance to be mentored 1-on-1 for a £2.5K cost, so I'm currently trying to get as much advice as possible before committing
Many thanks,
That's a high price tag, all I can say is do your research, understand exactly what the value is being offered and only you can decide if it is right for you.
Best of luck with your Forex trading, I hope you crack it :)
Feb 24, 2019 at 13:20
Medlem sedan Feb 07, 2019
47 inlägg
i keep hearing about this book i think i need to get hold of it.
Medlem sedan Feb 08, 2019
213 inlägg
Feb 24, 2019 at 13:50
Medlem sedan Feb 08, 2019
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Trading in the zone is a good book. So is The Compound Effect...
Medlem sedan Aug 09, 2017
785 inlägg
Feb 26, 2019 at 13:30
Medlem sedan Aug 09, 2017
785 inlägg
The beginner should use demo account minimum for three months, sometimes many brokers organize demo contest with real money prizing. Newcomers can join here. It could be great to acquire real trading exeprince.
Feb 28, 2019 at 06:53
Medlem sedan Feb 08, 2019
57 inlägg
walpants posted:
i keep hearing about this book i think i need to get hold of it.
have you checked out the Youtube series ? This 5 or maybe 6 hours of awesome content broken in to a 4 part series.
Medlem sedan Aug 09, 2017
785 inlägg
Feb 28, 2019 at 12:50
Medlem sedan Aug 09, 2017
785 inlägg
In Fx trading, learning is not easy despite of having too many sources including pips school, learning sometimes boning and usually new traders get tempts to start trading without enough knowledge and become fascinated with the way of trading live which may cause laziness and trapped by wishful thinking get rich quickly scheme
Mar 04, 2019 at 15:17
Medlem sedan Mar 04, 2019
10 inlägg
dylanjessop posted:walpants posted:
i keep hearing about this book i think i need to get hold of it.
It is a great book.
Does the book cover trading strategies or is it more about motivation and phycology? I need a book that has a good strategy
Mar 05, 2019 at 07:49
Medlem sedan Feb 07, 2019
47 inlägg
REB_FX posted:walpants posted:
i keep hearing about this book i think i need to get hold of it.
have you checked out the Youtube series ? This 5 or maybe 6 hours of awesome content broken in to a 4 part series.
omg no i'm searching for it now! :)
Medlem sedan Aug 09, 2017
785 inlägg
Mar 06, 2019 at 08:08
Medlem sedan Aug 09, 2017
785 inlägg
newcomers first of all have to ensure all basic level , i like most pips school which is mainly considered as a best learning place for newcomers. besides this school demo is more appropriate for live trading experience.
Medlem sedan Aug 11, 2017
886 inlägg
Mar 06, 2019 at 20:22
Medlem sedan Aug 11, 2017
886 inlägg
in Forex trading we the traders who are particularly newcomers make so many mistake in our trading life due to lacking proper trading experience. Taking wrong trade without proper analysis and risk management is one of the major from all of them.
Medlem sedan Feb 07, 2019
34 inlägg
Mar 07, 2019 at 12:23
Medlem sedan Feb 07, 2019
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Imamul posted:
newcomers first of all have to ensure all basic level , i like most pips school which is mainly considered as a best learning place for newcomers. besides this school demo is more appropriate for live trading experience.
Great place to learn.
Mar 11, 2019 at 07:32
Medlem sedan Feb 08, 2019
57 inlägg
Mohammadi posted:
in Forex trading we the traders who are particularly newcomers make so many mistake in our trading life due to lacking proper trading experience. Taking wrong trade without proper analysis and risk management is one of the major from all of them.
We will all make mistakes as we learn.
Those that will be successful are the ones who will review their trades and learn from the mistake.
Mar 12, 2019 at 09:32
Medlem sedan Feb 07, 2019
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dylanjessop posted:
Risk to Reward ratio is vital in trading.
definitely, get that right and you don't have to win every trade.
Medlem sedan Mar 12, 2019
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Mar 12, 2019 at 10:52
Medlem sedan Mar 12, 2019
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R to R is not to be underestimated. I remember the first time someone explained to me that even with a win rate lower than 50% you can still make profit if you use a 1:2 RR. I have focused all my trading strategy around using high RR. I am still learning but I have confidence that I will get there
forex_trader_565984
Medlem sedan Oct 08, 2018
144 inlägg
Mar 12, 2019 at 15:11
Medlem sedan Oct 08, 2018
144 inlägg
AdebayoTheBest posted:Good Risk to reward means take only those trades which has very high probability of success with take profit and stoploss ratio of more than 2 or even more.
R to R is not to be underestimated. I remember the first time someone explained to me that even with a win rate lower than 50% you can still make profit if you use a 1:2 RR. I have focused all my trading strategy around using high RR. I am still learning but I have confidence that I will get there
But if someone will take just every trade and hope the market will give at least 2 times profit pips compared to his stop loss, then it is a wrong approach.
All new traders must reduce the number trades they take every day or every week to half and then, naturally their trading profits will increase since they will take only high probability trades.
If emotions create problem for new traders, then set and forget type style of trading is best with pending orders to get triggered automatically with fixed stoploss and takeprofit.
If new traders will enter market orders, it very easy to make wrong decisions based on emotions or fear of missing out trades etc.
Mar 13, 2019 at 07:23
Medlem sedan Feb 08, 2019
57 inlägg
AdebayoTheBest posted:
R to R is not to be underestimated. I remember the first time someone explained to me that even with a win rate lower than 50% you can still make profit if you use a 1:2 RR. I have focused all my trading strategy around using high RR. I am still learning but I have confidence that I will get there
If you are taking high probability trades with this R to R you will go far.
A very sound principle to follow
Medlem sedan Aug 09, 2017
785 inlägg
Mar 13, 2019 at 11:13
Medlem sedan Aug 09, 2017
785 inlägg
Demo trading the first of trading in Forex , but Honestly speaking I have never used this trading place when I was a newbie. Because I was bored in here. I studied in Pips School and besides this i was in live account with small balance. It worked greatly instead of demo account.
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