Tips for an Forex beginner

[kasual]

demo account is the best place to practice for beginner traders. there, no risk to loosing money since all transaction done by virtual money. beginner also can make trial and error, tried many of trading system and learn the market behavior as well. not necessary to jump in real account to chasing real profit before beginner traders confident with their trading skill.

 

[riddick09]

Again, demo account is not only for practice in beginners but also for the different traders either experienced or experts already. Because, in order to test out a strategy we don't need to risk our funds or capital to have see the results of our strategy but will be in demo trading. This way we don't need to risk to know what might happen i we input this in our trading.

 

[rakeshgarg]

Also keep in mind that you are beginner, so always start with 1 or small lots, this way you will analyze yourself everything & your chances become more to earn money.

 

[Markllee30]

I will suggest, first learn all forex term then start with demo accounts because In demo account, you trade with virtual currency and due to this there would not any emotional decision. When you get confidants, you will invest money in forex market some sources name like Babypips school, Bloomberg fx insights etc.

 

[hadg33]

Yes,knowing the forex terms really matters in forex,after knowing the forex terms,the forex beginner should not be eager to earn from forex trading,the forex beginner should make sure to practise I the demo account for at least 6 moths before trying to invest in the live trading account

 

[PROPENSITY100]

Every beginner should first practice Forex trading using a demo account. A demo account provides a platform to the beginners to gain some experience and test their knowledge and learning. Demo accounts can be used to learn various charts and indicators and know their efficacy and select which is most suitable for the trader.

 

[Daisy]

I think the newbie must learn as much as they can regarding the topic fundamentally and technically. After that they should also learn news and also best trends and averages and patterns that will help them trade. They should also learn to develop a profitable trading style like short term or long term. For me, I do well in both types. Also, they must practice in a demo for as much as possible and until they can take profit. After that they can move on to a real account and do like cent account or mini account to avoid large loss as a newbie and you can gain further experiences in a mini account and then you can move on to a larger account.

 

[gkintl]

The best tip that a beginner can have is "always use stop loss and take profit facility". It is such a handy tool which would save a trader both in good and bad times. Even a winning trade can result in a loss, if the trader does not use a take profit facility. Likewise, stop loss is indispensable to protect account from getting blown away. A trader who always uses these facilities meticulously will have a smooth trading career.

 

[Decub]

A beginner should also believe in himself, though Forex is difficult but not just believing all those side discouragement that come along with the learning process of Forex. Always remaining focus and get motivated by himself and for himself is a great way of remaining in the business. It only takes time to learn and if we do, becomes beneficial thereafter.

 

[Cutiekc]

My tips for beginner traders is that they should endeavor not to see forex trading as a business that of a fast money making business they should see forex trading as a business of the knowledge and skilled person, so therefore they should however make use of the demo account first in order to develop the required skills.

 

[Decub]

A beginner should also remember the rule of learn before you earn. It is just natural for a new trader to always lose at the beginning but that is what I call the trial stage. It is really discouraging to lose your investment to Forex and in most cases, makes you consider quiting but it is only those that overcome this that would prosper.

 

[hadg33]

The demo account is so necessary for a forex beginner. The beginner must first learn the forex basics and terminologies and the make use of the demo account. The beginner must at least practise in the demo account for about 6 months before venturing into the real trading.

 

[sindarin]

For me 6 months is too much, 4 months is the longest time they should rrain in demo account. I also advice that newbies to stick with their strategy only and trying to learn while getting used with it, and i am sure only in 2 weeks novices traders that spend a lot of time with demo account already understand the basic of forex, but for their technique and strategy it should be up to 4 months.

 

[ryuken]

Starting with demo account is one option and another is that getting a mentor. it may not take much of the time for the people to get started with the forex. sometimes that is also one such assurance as well. overall we have to understand how the forex trading needs to start to get started.

 

[Ruchibhar]

search the internet and learn one basic thing, money.

 

[barood4money]

A Full book can be publish on the subject "Tips for beginners at forex". Discuss with experienced traders. Note down their views. Practice alot at demo trading. Try to learn every terms used at forex. And there are much more to follow.

 

[amit.neogi]

I think that as a newbie at first we should trade on demo account and after that we jump on the live market for just a few times in a day basis because with demo account beside we should trade in live market.for better trade.

 

[barood4money]

I think that as a newbie at first we should trade on demo account and after that we jump on the live market for just a few times in a day basis because with demo account beside we should trade in live market.for better trade.

Yes, it is true that you can trade at real account and as well as we can practice at demo account. It helps us to learn how to handle at tricky situations and as well you can experiment whatever you want.

 

[Daisy]

I think as a newbie you should learn all fundamentals and technical as those are the basis and then do demo as well. The demo will help you so much when you trade in real live trading account so make sure you trade as much as you can in a demo so you can lose less and gain more in later trading. Of course, you will need to have full knowledge and experiences in order to trade well. Forex is all brain work so don't rush into gambling mode.

 

[Master Forex IB]

Demo trading is your first tip to do trading if you are managed trader here and evaluate your mistakes and success honestly you can work good in real trading. then use bonus for real trading you will not loose your actual money in forex market.