Just started forex trading.

[indieover]

It's better for beginners to just watched a lot of forex tutorial videos just like what I have been doing so that you have more understanding of what forex is all about and you would need to do a lot of research and reading.

 

[budado]

I been trading in demo account first before I decided to invest my time and effort in real account but even I spend time in demo account I still end up losing money in real account. That's how difficult forex trading is. I do hope that I can make good income in here. If I can find ways and means to make money in forex I can really make good income in the long run.

 

[indieover]

Yeah some time even if you have been trading well in your demo account it doesn't mean that you would be able to achieve success in your live account. So you would need to make a lot of hard work before you would be able to achieve success in your live account. Making consistent profit in the live account is not that easy.

 

[eddiej]

I started learning about forex two months back. I made some cents in profit till now as i don't have any big strategy to earn huge profit. I am still in a phase of learning. Can anyone please recommend me any good strategy? I can make investment.

The most important question I can ask is this, do you remain persistent with the profits even though you say you're earning just a couple cents? If you are then you're on the right track. It's doesn't matter how little you make IMO just as long as you stay consistent. You might just want to modify your methods a wee bit if you find something that needs adjusting

 

[budado]

And you can just add more trading capital. The more you trade in forex the more you will end up making good profit in the long run. I know its really hard to make money in forex. I know is take lots of time and effort to become a successful trader. That's why its good to trade with 10 dollars in cent account first then 100 dollars in mini account then 1,000 dollars in lite account and finally 10,000 dollars in standard account.

 

[indieover]

Indeed it's very much better if you would be able to add more funds into your investments . But in the beginning , you might not understand that it is much better if you would be able to trade using a very big capital like 1000 dollars. Having a very small amount of capital would not give you a good amount of profit

 

[UMOFX IB]

it is sufficient that you are having knowledge of this market and making low profits. It is up to your investment . If you had good investment your profit will be some how big . In two months you need not to try for risky trading , You can make strategy which is not harmful for your capital . Good traders not become in months it need yeas to be a profitable trading with forex.

 

[sindarin]

The most important question I can ask is this, do you remain persistent with the profits even though you say you're earning just a couple cents? If you are then you're on the right track. It's doesn't matter how little you make IMO just as long as you stay consistent. You might just want to modify your methods a wee bit if you find something that needs adjusting

That is right, i prefer not to count how much profit i made, as long as i made profit from each trading that i do then that is fine for me. many people worry too much about how much that they can make per month or daily or weekly from forex, but in fact they only need to focus and keep trading, i think that is all they need when they start trading.

 

[riddick09]

Just use the trading journal for any information you will need. But it is very important to also know our history of trades to have our guidelines what we need to improve and what we need to do after seeing those trading results. So, we are not only looking for the profits but to learn also the losses.

 

[eddiej]

Just use the trading journal for any information you will need. But it is very important to also know our history of trades to have our guidelines what we need to improve and what we need to do after seeing those trading results. So, we are not only looking for the profits but to learn also the losses.

that's why i take note of all my trades on my trading journal. I also put little notes to remind me why i went into the trade. really useful stuff later on when you analyze how your trades went that day and then you can actually pinpoint individual decisions for that trading period.

 

[budado]

Its also good to just do monitoring of charts and check the pattern and trends. In this way we can make good with our analysis. Because in forex trading our main source of income will always depends on how good we are in doing analysis. The more we can do accurate analysis the more we can end up in profit.

 

[ryuken]

Yes, monitoring and the news is also good. that way some people learn to understand how the market works and how we can make things better. that said, there are not many people getting into the forex laterly because of the loss so we can see this as a way of opportunity.

 

[Cutiekc]

Its also good to just do monitoring of charts and check the pattern and trends. In this way we can make good with our analysis. Because in forex trading our main source of income will always depends on how good we are in doing analysis. The more we can do accurate analysis the more we can end up in profit.

I do think chart analyzing has also to do with technical analysis,also fundamental has a great role to play,fundamental has to do with reading the news and updates and fundamental takes place before it reflects on chat,so both methods are all important.

 

[riddick09]

It's the technical analysis already. Bu then, still fundamental has great influence in the market which will soon realize or analyze using the chart. I will still take consideration that a trader must know the usage of the technical and fundamental as we need both in our trading.

 

[Daisy]

You can use mini account to start out slow as you might lose so lose little like try forexcents. Also, you might want to trade for the long term since you lose less that way, have more time to absorbs risks and also might gain profit more steadily daily than short term scalping. Scalping is profitable but also very risky as well so beware of that and do not risk high capital in scalping at first. Scalping is good when you gain more experiences.

 

[Cutiekc]

You can use mini account to start out slow as you might lose so lose little like try forexcents. Also, you might want to trade for the long term since you lose less that way, have more time to absorbs risks and also might gain profit more steadily daily than short term scalping. Scalping is profitable but also very risky as well so beware of that and do not risk high capital in scalping at first. Scalping is good when you gain more experiences.

More important the demo account comes first because without the demo someone who is a beginner or a newbie will keep lossing money in the cent account and gradually it multiply to making an enormous amount. About scalping its risky that much when one trades with no quality analysis.

 

[Decub]

More important the demo account comes first because without the demo someone who is a beginner or a newbie will keep lossing money in the cent account and gradually it multiply to making an enormous amount. About scalping its risky that much when one trades with no quality analysis.

You know, I hear some say they never had any business with the Demo account all through their learning career and it really baffles me to understand. Even if the person is richer than Carlos Slim, there is still need for him to adopt a means every other trader adopts which has proven to be effective over time. It doesn't make sense to me to keep losing money in the mini account where you have something that can offer you similar characteristics in the Demo account.

 

[Cutiekc]

You know, I hear some say they never had any business with the Demo account all through their learning career and it really baffles me to understand. Even if the person is richer than Carlos Slim, there is still need for him to adopt a means every other trader adopts which has proven to be effective over time. It doesn't make sense to me to keep losing money in the mini account where you have something that can offer you similar characteristics in the Demo account.

Yeah I was even wondering how possible that could be of course I know one forum poster also that usually says that the sister never made use of the demo account and also never though him/her with the demo account which is not true because even an economist still needs to get started from the demo account.

 

[Decub]

I have found out that certain people have a way they run their life and you just don't have to doubt them. I know of the member and I know, yet another one who has similar experience. He said he never tried trading in Demo account as a newbie but no one believed him and that might just be true. Conventionally, the newbie should be a trader's first practical starting point but it doesn't work for some because of lack of commitment.

 

[Pettyeve]

If a trader is just starting forex, then he or she will have to learn how to trade. It is when the trader can trade that he or she will be able to make profit in forex. The best place that the newbie trader will start is just in the demo account so as not to lose his or her deposit.