Beginner Forex tips

[farrukh89]

1. Every new trader comes to Forex with a single goal in mind — to make profits.
2. In the hunt for a successful trading career, be cautious about bright colorful promises spilled by everyone: from Forex brokers to different Forex product, book, system, courses sellers.
3.As a beginner, you may find entering the currencies trading world quite overwhelming at first.
4.Despite challenges, Forex trading is very exiting. It is advised to open a Forex demo account with any broker and dive into the world of virtual trading, which will become your learning base for the next several months.
5. If you're new to trading, don't rush in to trade with real money, unless you can afford to lose them, because you will most certainly do, if your trading experience is less than 3 months.
6. Don't believe online marketers who try to sell you a system or indicator for $60-100 USD, with promises to guarantee you huge profits and financial freedom. It is all lie, unfortunately.
7. Keep a cool head, get inspired about Forex trading, keep on studying, keep the learning process at your own pace and master this disciple of Forex market trading in few years to call yourself an experienced trader.

 

[elvismoraes19]

Thanks for the tips. I'm a budding trader. I will keep these tips in mind wile trading.
Thanks mate

 

[brokenblade]

These are good tips and they are true. This is something every new Forex trader should read. I especially agree with the tip about not falling for someone who tries to sell you a system or indicator. You definitely should slow your roll when trading Forex. If you try to make large profits in a short amount of time, you will most likely lose a lot of money that you can't afford.

 

[indieover]

Indeed with those tips I think that the newbies would be able able to avoid losing a lot while they are still learning how to trade and while they are still trying to get some experience in trading. So I'm hoping that these tips would be taken seriously by new traders

 

[monyitomon]

Don't depend on just a single information that you can find on the internet because it's not 100% guaranteed you have to figure it out on your own. Just like me, it's taking me long to learn many things about Forex because I am not just relying on one source.

 

[indieover]

yeah i think that we just have to test the information we gained from the forums and websites so that we can test it ourselves which are true and which are good to follow.

 

[indieover]

It's very much important that you would follow those tips. As a beginner you have no idea on how to trade well. So you have no choice than to follow those tips if you care about your money

 

[riddick09]

Yes, but its also good if we have experience in those matters. And probably, there will be many traders that actually knows more about that tips and can even expound those tips and give us more detailed explanation or instances about having those tips such as the number one, making profits. Wherein, for me you need to have risk management in order to maximize your profits.

 

[Tirus]

I find that the tips do make a lot of sense. For example, you dont want to go in to live mode without learning the trading platform at this stage while you are dealing with real money. Rather start off in a demo account and familiarize yourself first by practising before even thinking of going live.

 

[indieover]

yeah with those tips that you would be able to avoid a lot of mistakes in forex. after all we know that there is a lot of things we have to avoid doing in forex. so better learn those things. so we can avoid loss in forex too early.

 

[budado]

If you are a beginner my first tip is that don't invest. Never invest in forex. Try to find a good paying forum that is sponsored by a forex site then post and earn points that you can use to trade and earn money by making some profit. this is the best way to earn money in forex trading if you are a newbies. If you feel your good then that's the time you add your own personal money.

 

[indieover]

Indeed I am not yet ready to invest out of my own money because I just want to invest by the bonus for post that I have been paid for my post. So I would just invest out of my own money when I am already able to develop my skills in forex well

 

[Tirus]

What is good about forex nowadays is that there are more forums that are offering bonuses that can be used to fund your initial investment. Using forex bonuses will help to ease you into real account trading where you can get live experience of trading without having the prospect of having to lose your own investment.

 

[indieover]

yeah with more forex forum then twe can find it easier to learn forex now. although it does not mean we would get more tips. but it just shows that more people are aware of the forex . so it may mean we can find more members that can help us out also.

 

[budado]

yeah with more forex forum then twe can find it easier to learn forex now. although it does not mean we would get more tips. but it just shows that more people are aware of the forex . so it may mean we can find more members that can help us out also.

I agree. Even though for me 90% of those who post in forex forums does not post well enough to have substance in their post but I still find some good posters who shares theirs charts and the sites that they are using and some how I do adopt those sites and strategy and it does help me earn more in forex trading also.

 

[indieover]

It's because a lot of posters are just new traders and are just still learning about forex. So we can't expect that all the post we see on the forex discussions are all informative. As we are all trying to learn forex.

 

[Tirus]

The best part about forex forums is that they are not for Experienced traders only otherwise newbies would not get a chance to participate in the discussions. Luckily there are other avenues that individuals can use if they feel that they are not getting enough information from forums.

 

[budado]

The longer I trade the more simpler I become. I guess right now I realize its okay for newbies to make mistake. In fact its good that newbies experience mistakes also. Its because this is how we going to make our self stronger. Beside if you don't make mistake early and you make mistake later on you will have hard time correcting it. But if you make mistake early you have room to improved it.

 

[monyitomon]

Yes, it's okay for everyone to make mistakes because they understand anything if they won't learn from their mistakes perhaps because even we already know given an advice, but we don't keep it on our mind because the best teacher is our experience as for sure when we experience it, we will understand it.

 

[indieover]

yeah i think if you can't learn from your mistakes that we should not expect to succeed in forex. we should all learn from our mistakes so we can keep on learning.