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New and unsure where to begin...Tips? Thanks very much!

deeparsons
Apr 10 2017 at 06:45
1 inlägg
I'm new and unsure where to begin...if you could provide some tips, that would be great... Thanks very much!

Baldo (BaldoN)
Apr 10 2017 at 12:03
522 inlägg
Hello,
I believe tips will not help you, if you are looking from where to start with FX trading.
There are really many, many free courses and education for creating the base. Here are one (there are also many commercials, but it is not bad to understand beginning and some helpful advices related with few set-ups.

https://www.learntotradethemarket.com/forex-university

 

InvestorsEd
Apr 11 2017 at 07:09
8 inlägg
Baldo is right take the time to learn the basics first. Too many people jump into trading because of the lure of fast riches and never take the time to learn the basics. There is an overabundance of material on the internet and in stores that can teach you the basics.
If I can ever help to you please let me know.

Better to lose less then to make more
Md Raihan Siddik (raihan786)
Apr 11 2017 at 07:18
1 inlägg
i want to start. I want to choose a broker. will you help me find a best broker ?

alfredgervais16
Apr 11 2017 at 07:29
33 inlägg
yes, establish your foundation of knowledge first, don't focus on tips too much.. you can deal with it later on, in the mean time, you can soak yourself in reading or watching VODs that could increase your basic learning in fx trading

Wardy (s_wardy)
Apr 12 2017 at 14:36
1 inlägg
I'm new here too, the first post of many I hope. I'm brand new to trading myself and I can give you a few tips that I've very quickly learned:

- Go to udemy and sign up for as many free forex courses as you can.
- Make sure you know the basics before you ever start a real account.
- Learn the important indicators: Candles, Moving Averages, MACD, RSI, PSAR, Bollinger Bands, Fibonacci, Risk.
- Never trade a live account before you fully understand the above, and have proven in a demo account you can turn over at least 80% profit
- Never place a trade at 10 PM after any amount of alcohol consumption (trust me I lost 2 K finding this out).
- Avoid all kind of emotions and keep your ego well away.
- Make a daily plan for each pair you follow. I follow 6 pairs and write a plan for each.
- Part of writing the plan is to study the fundamentals, so read the news regarding the pair/s you follow.
- Don't ever listen to scammers. You can spot these easy because they prefer to teach Forex, because they may know enough about Forex, but never been able to make a living from it.
- From beginning to end trading forex is about the trend, if you can find 1 trend a day that gets you 20/30/40 pips, then you'll never need another job. I left a 100 K job to travel last year, and when I came back Feb 2017 I wanted to travel more. So for me trading Forex is the key to working on the go (travel). And I'm already making close to what I earned in my old job.

Study hard and you'll be rewarded. I can't speak for signals or auto trading, but do lots of manual trading first and understand fundamentals and technicals.

Tiffany (TiffanyK)
Apr 14 2017 at 07:28
427 inlägg
The best tip for your beginning – start learning forex by yourself and dedicate a big part of your free time to this. You can also check - https://www.babypips.com/ Very useful website!!! After that, form a strategy that fits your needs for trading, then search for a broker (but be very careful !!! always choose broker who is regulated and with good reputation). If you want to become a trader – don’t waste any more time 😄 Good luck!

Accept the loss as experience
Denisich
Apr 16 2017 at 06:53
28 inlägg
I think, that you should trade forex 24/7. I don't belive that there are any super special tips for being profitable trader.

darren (darrengreg)
Apr 24 2017 at 07:25
37 inlägg
As a new trader, all you are looking to do is learn to trade profitably and the bigger prize will follow.
.Newbie traders should learn the basics on demo first. As a new trader, all you are looking to do is learn to trade profitably and the bigger prize will follow. After getting familiar with the forex market start with a small account and work on your emotions. Tip is to risk only a smaller portion which you can afford to lose.

Denisich
Apr 27 2017 at 06:14
28 inlägg
darrengreg posted:
As a new trader, all you are looking to do is learn to trade profitably and the bigger prize will follow.
.Newbie traders should learn the basics on demo first. As a new trader, all you are looking to do is learn to trade profitably and the bigger prize will follow. After getting familiar with the forex market start with a small account and work on your emotions. Tip is to risk only a smaller portion which you can afford to lose.


Also it is a good idea for a trader to test new stategies on demo account.

BarryMoore
Apr 27 2017 at 12:18
10 inlägg
yes, trade on demo for at least a month (ideally longer). No point wasting real money on a poor strategy

VincentD
Apr 28 2017 at 11:12
9 inlägg
Read the 'Disciplined trader' and 'trading in the zone' by Mark Douglas.

ToryBiggins
Apr 30 2017 at 06:58
16 inlägg
After being on demo move to a micro account DON'T start trading in large lot sizes

mlawson71
Apr 30 2017 at 11:18
1487 inlägg
How I wish someone had given me that advice when I first started trading. I don't know whether I would've listened to it, but I'd like to think I would have.

Denisich
May 07 2017 at 06:24
28 inlägg
mlawson71 posted:
How I wish someone had given me that advice when I first started trading. I don't know whether I would've listened to it, but I'd like to think I would have.


What happened to you at your first time?

mlawson71
May 07 2017 at 11:58
1487 inlägg
Denisich posted:
mlawson71 posted:
How I wish someone had given me that advice when I first started trading. I don't know whether I would've listened to it, but I'd like to think I would have.


What happened to you at your first time?


Nothing unusual. I invested too much money without being ready to trade with real money and I lost the account.

enoeraew
May 10 2017 at 10:35
3 inlägg
Forex trading can be a great weapon in anyone's financial arsenal. The key is experience. You need to learn as much as you can using all the free education online.

Another key piece is longevity. Many would be successful traders end up as failures simply because they loose all their investment capital to early, trading too much money before they understand what is really happening.

To speed up the learning process I always tell people to spend some time with a trading simulator

Simulated trading is a great way to learn without risking your money.

May today be better then yesterday!

Denisich
May 12 2017 at 13:37
28 inlägg
mlawson71 posted:
Denisich posted:
mlawson71 posted:
How I wish someone had given me that advice when I first started trading. I don't know whether I would've listened to it, but I'd like to think I would have.


What happened to you at your first time?


Nothing unusual. I invested too much money without being ready to trade with real money and I lost the account.


Did you open an order with big leverage?

mlawson71
May 13 2017 at 11:59
1487 inlägg
Denisich posted:
mlawson71 posted:
Denisich posted:
mlawson71 posted:
How I wish someone had given me that advice when I first started trading. I don't know whether I would've listened to it, but I'd like to think I would have.


What happened to you at your first time?


Nothing unusual. I invested too much money without being ready to trade with real money and I lost the account.


Did you open an order with big leverage?


No, I lost it gradually because I was closing my positions too early because I was afraid of losing money. Typical psychology problem.

darren (darrengreg)
May 18 2017 at 11:47
37 inlägg
Denisich posted:
darrengreg posted:
As a new trader, all you are looking to do is learn to trade profitably and the bigger prize will follow.
.Newbie traders should learn the basics on demo first. As a new trader, all you are looking to do is learn to trade profitably and the bigger prize will follow. After getting familiar with the forex market start with a small account and work on your emotions. Tip is to risk only a smaller portion which you can afford to lose.


Also it is a good idea for a trader to test new stategies on demo account.


yes its indeed helpful. you can backtest your strategy in demo and go live with it only after you are confident about your strategy.

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