Beginner Forex tips

[rizal83]

Nice tips. Beginners should follow these tips. Everyone want to make profits but it is important to make plans and strategies and follow them if you want to become successful.

indeed the beginner to follow tips that exist and this will be very useful for themselves but still many new traders who ignore advice from other traders to learn and practice first before doing the actual trade so many novice traders who lost the consequences of their own act

 

[riddick09]

My tip is that, we should exercise our patience. Lots of patience will have the more focus we can have in our trades and analysis which of course has more chance for successful trades as we will not harsh decisions and it's decided deliberately.

 

[budado]

Always to practice in demo and don't invest big amount right away. Instead join a cent account broker sites. In here 0.10 lot size is worth 0.1 cents per pip. Meaning you need to earn or loss 10 pips in order to earn or loss 1 cent. I know its a small about but that's how we try to trade in here. And just join mini then lite account if you confident enough to succeed.

 

[UMOFX IB]

I will also recommend to invest a little amount after doing good practice on demo. he should trade first on micro accounts in real trading . He can then get better understanding of real trading and its dealing. He will face emotions and will control them. slowly increase capital and lot . he should take small profits in start , it will make him a responsible trader.

 

[riddick09]

I don't think that you will need to have practice in demo and will need to invest. Having demo account is for free and that the capital set there will be virtual only. So, don't know where you can find demo will have need to invest real money. Anyways, that is Forex brokers offers demo for free.

 

[FxGuy]

I would suggest every beginner to first trade with demo accounts and then with some $10-$20 bonus accounts where you can withdraw the profits. It's not much capital but you can at least feel the rush (a little)

 

[riddick09]

What are you saying having bonus accounts then, you will able to withdraw? A trader should have accumulated capital in any means possible to have bonus capital or to have spend or invest from our own pocket if we are able to have it and will not invest all of it.

 

[hadg33]

I am really confused on what those FX guys are talking about,a demo account has virtual funds in it and I don't know why this members are saying it can be withdrawn. Demo account is just there for practise,so it is not real.

 

[riddick09]

Yes, that's what I've said. But I remember here is the demo contest that will have the prize as can be withdrawn that's is different in the bonus his stating but maybe it's the same for him. But then, for the traders it's better to have the capital to be used in our real trading.

 

[hadg33]

Of course,for the traders,it will be better if they trade in the real account cos that is the only way that they can really make profits,the demo account would only make a trader to make virtual profits,so it is really worth to trade in the real account.

 

[riddick09]

Once, they have the enough basic knowledge and experience then, it will good for them to have the real trading. Since, there's no exact time for the traders to start real trading because, it's their instinct and decision. So, we will not have here a month or exact date to pursue the real trading.

 

[rafiqshahid]

For beginners they should first use the Demo account for a month to seek the experience, practice and knowledge. This account is the best teacher for them. With out training and getting the proper knowledge the beginners can not be successful in this field. without this this business is very risky and dangerous and cause of loss of money. also they should avoid the mistakes in the trade if they wan to get profit.

 

[Decub]

For beginners they should first use the Demo account for a month to seek the experience, practice and knowledge. This account is the best teacher for them. With out training and getting the proper knowledge the beginners can not be successful in this field. without this this business is very risky and dangerous and cause of loss of money. also they should avoid the mistakes in the trade if they wan to get profit.

Even when it is very right to say that beginners should take Demo trading as their own practical trading. It is also wise enough to admit the fact that one can go into Demo trading when he must have known the theoretical parts and terms used in Forex because an entire novice in Forex wouldn't even know where to start even if you open a Demo account for him.

 

[hadg33]

For beginners they should first use the Demo account for a month to seek the experience, practice and knowledge. This account is the best teacher for them. With out training and getting the proper knowledge the beginners can not be successful in this field. without this this business is very risky and dangerous and cause of loss of money. also they should avoid the mistakes in the trade if they wan to get profit.

Huh...one month? I think that is too little. A forex beginner needs to practise in the demo account for at least 6 months before venturing into the real account. Apart from demo account,a forex beginner must know the terminologies and basics before using the demo account.

 

[riddick09]

The learning here does not have specific time or exact time that we will be done in demo or in our trading strategy. This will be depends on our confidence and knowledge on our strategy and our skills that we will think of having profitable trading when we do the real one.

 

[Cutiekc]

The learning here does not have specific time or exact time that we will be done in demo or in our trading strategy. This will be depends on our confidence and knowledge on our strategy and our skills that we will think of having profitable trading when we do the real one.

Yes the demo account isn't even meant to be dumped after thinking that you've learnt all what you want because even the proffessionals makes ude of it in testing strategies and aslo it is only our performance on it which can actually tell if we are to start with the real account or not.

 

[Daisy]

Those are good tips. Try to stay away from scammy programs like pamm or hyips, as some of them are very scammy and offer you to get rich over night. Its easy to fall for those as newbie so do not fall fro them. Hard work in forex will help you earn so avoid those scammy ones. Also, you should consider trading with bonuses at first since bonuses will help and you don't have to put in your real money and there are many forums who offer bonuses for posting and for depositing and rebates as well.

 

[barood4money]

Those are good tips. Try to stay away from scammy programs like pamm or hyips, as some of them are very scammy and offer you to get rich over night. Its easy to fall for those as newbie so do not fall fro them. Hard work in forex will help you earn so avoid those scammy ones. Also, you should consider trading with bonuses at first since bonuses will help and you don't have to put in your real money and there are many forums who offer bonuses for posting and for depositing and rebates as well.

I agree with you. If we believe at ourself and do our work honestly with full determination, then we will really earn a good profit. If we have the skills and knowledge then we don't need any robots.

 

[Decub]

The learning here does not have specific time or exact time that we will be done in demo or in our trading strategy. This will be depends on our confidence and knowledge on our strategy and our skills that we will think of having profitable trading when we do the real one.

Exactly and so many tend to feel that once you are done with learning in the Demo, that everything ends there. You just have to pack yourself up and go over to the real account without having anymore thing to do with the Demo account again.

 

[Angelic]

my humble and kind advice to newbie is that they should endeavour not to have the wring mind set in forex trading were as seeing the business like that of a fast money making busiess although one could be able to become rich through forex trading but the person must have been doing some learning indoors.