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Tips for an Forex beginner

Discussion in 'Beginners Forum' started by mjansen484, May 31, 2012.

  1. mjansen484

    mjansen484

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    Hi, i've started like an week ago with forex, does anyone have tips for me as a beginner?
    Would be very helpfull :32 (20):
     
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  3. kasual

    kasual

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    open demo account and practice there to gain experience and then visit many forex school site and forum site to enrich your knowledge about forex. not only read but you also should active to discuss with other trader and know other trader perspective will be good for you.
     
  4. Tirus

    Tirus

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    The best would be to start with acquiring as much knowledge as you can regarding forex trading to ensure that you know what it involves. Yes, a demo account would help in getting practice on what you will encounter when you eventually start trading. The best part of a demo account is that you dont get to loose real money but gain some invaluable experience to use when going live.
     
  5. valexer

    valexer

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    For beginners, it is best to take it slow at first. You should not rush and go for profit right away because that would not happen right away. You have to put your time learning the basics and practice it in demo trading. When you feel that you are ready, then you can pull the trigger and trade in live trading. It will be tough but if you have good knowledge, I think you will have a higher chance of keeping up with other traders.
     
  6. faceless

    faceless

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    For a beginner, should we start doing daily trading? Or do you think it would be safer/ easier if we do trading that lasts for lests say 1 week or a few days. Because it is riskier to do per day trading and also much harder.
     
  7. Tirus

    Tirus

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    It would certainly be better if a beginner trader takes as much time as they need to go through the learning process of forex and rather stick to trading in the demo account for now until they are comfortable and confident enough to switch.
     
  8. budado

    budado

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    Joint MT5 and post in their. In here you will going to earn bonuses that you can use to trade in forex and if you make profit that bonuses can be withdraw. So in short if you become good in forex trading you will be rewarded with profits.
    Also try to trade in demo as you practice your strategy in forex trading.
    good luck.
     
  9. sharif007

    sharif007

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    This is online thesis services site.
     
  10. monyitomon

    monyitomon

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    That's a good advice when we are just a newbie it's necessary to post in a Forex Forums to earn some funds to trade in Fore so which means we don't need to spend our own money from pocket to trade in Forex as when we are newbie we will face losses in here.
     
  11. Tirus

    Tirus

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    You will get to benefit twice from forex forums like these because you will get to learn and earn at the same time. Its already difficult to raise capital to start your trading experience for many people so this would really help increase your forex knowledge and rase funds.
     
  12. budado

    budado

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    That's true. So far I have a new account in instaforex that I can use to start trading. I'm thinking of having multiple accounts in intaforex so that I can earn few dollars a month. Just imagine. If I earn 5 dollars a month in ptp forums posting and have 10 ptp forum. I can earn 50 dollars a month in ptp posting. Now if I have 10 instaforex account that earn me 5 dollars a month I can also earn the same.
    And If I have 50 accounts in instaforex that earn me 5 dollars a month that's already 250 dollars earnings a month. I don't know if I can handle that many accounts. lols. But that's my strategy in here.
     
  13. Syrine22

    Syrine22

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    Sincerely it's good to be positive when taking some risk but really we can't be saying it would be a all win situation when dealing with forex all the time. Well to me opening a moderate account that would be monitorable by us would be much more adviceable when dealing with forex.
     
  14. kalpeshmkm

    kalpeshmkm

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    You new than you rely need some advice which will help you for long time like Don't trade without stop loss, Don't push back your stop loss and most impotent is Don't go against the market trend.
     
  15. budado

    budado

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    Most beginners loses their money in forex trading for two reasons only. One is lack of skills, two lack of funds. Many newbies prefer to use small amount thinking that its enough to survive the market volatility. But sad to say we need money to earn money in forex and that's the main reason why many EA works in demo simply because in demo theirs a lot of virtual funds to use.
     
  16. rexway

    rexway

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    Well I dont think that lack of fund can contribute to loss but rather lack of skills because in forex if you have the right skills to trade then go ahead and used leverage to trade and sure you will make profit if you dont have the fund just gradually post on forum and gather money to trade period .
     
  17. freddymyers

    freddymyers

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    ask for demo account and practice.watch Bloomberg
     
  18. Tirus

    Tirus

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    I would prefer to have knowledge over funds because with knowledge you can make the most out of your trading even if you dont have sufficient funds to trade with. It wouldnt work the other way around because if you have funds without knowledge you are not going to be successful. There are various ways to generate funds which is a good thing.
     
  19. Syrine22

    Syrine22

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    I think what you mean is that you would prefer knowledge to fund since fund would just be useless if one cannot be applying knowledge to make use of it.guys to me we should just be going for forex knowledge because forex fund without knowledge would only be resulting to an eventual fund loss.
     
  20. rexway

    rexway

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    I strongly agree to that knowledge is more important and powerfull than fund if you have the fund at the end of the day you fine out that what you get is nothing but loss of that fund due to lack of trading knowledge i think its more painfull than any other thing.
     
  21. naninov

    naninov

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    that's wise, earn while you learn... forum very helpful to keep you inform and get knowledge and help. you may got bonuses as capital trading by posting in forum like mt5 forum, i try posting there and got my bonuses credited in my instaforex trading balance, try it, it's fun