Please Help A Beginner :(
Some advice for the forex beginner
- Every new trader comes to forex with a single goal in mind - to make profits.
- In the hunt for a successful trading career, be cautious about bright colorful promises
- As a beginner, you may find entering the currencies trading world quite overwhelming at first
- Despite challenges, forex trading is very exciting
- Keep a cool head , get inspired about forex trading.
hello there. you can try this site. this site is really helpful for a forex newbie and you can learn a lot from it. Daily Market Report for 16 April 2013: Gold Plunges
Mate, patience is very important in Forex so i would advise you to take our time, trade maximum in demo as you are doing now and concentrate on important things related to Forex!! You'll have many difficulties but with time am sure you will succeed. I was once like you but with time i have manage some profits and now living a good life with my daily profit.
do these steps and best of luck
1. adjust the initial deposit in your demo account to the actual money you are willing to trade live with,
2. stick with a 0.01 lot, do not go too crazy with forex trading even if its demo, open a couple of demos to compare, a good broker would be hotforex, alpari, oanda,
3. school of babypips is a good place to learn the basics, go to babypips.com
4. stick with demo for a couple of months, and i suggest doing swing trading or position trading, try to learn price action and basic support and resistance,
5. the rest will fall into place gradually, and best of luck
Thanks a lot guys for the help. These are definitely very nice suggestions.
Hi All,
Trust you ll be fine. I am new to this forum and so as to Forex. I am running a 10,000 demo account and already lost 300 (0.10 Leverage) in about 5 days. I did make some profit but at the end its the bad trades who won no matter what I do and how cautious I become. Its like they are spying on me lol that when I buy a pair it goes down and down and down and when I sell a pair it goes up and up!
I am an IBS patient so I want to do Forex Trading for a living in the comfort of my home. Can you guys please suggest me some basic steps I need to do? I mean I dont know when to buy/sell. Most of the time their is up trend but suddenly there is down trend and so on. Please suggest me what steps should determine to buy or sell a pair? Also do things like Expert Advisors, Forex signals work? I used some of the free signals but I lost due to that.
If there is some paid service which can help me to guide me to right direction I ll be happy to pay for that but I dont know what to do and where to start.
Please help a brother out.
Thanks!Hi, You should need to concentrate practicing in demo account to be able not to lose all your money. Be patience in practicing to demo account. Gather some information of your broker before investing huge amount.
I am also a beginner. I found that doing trading virtually (ie. no real money) for a few months to hone your skills and get a feel for it helps. The problem is that when it is not real money you don't get the emotion that can sway your decisions.
Oh and another tool to use is Forex Event calendars such as this site provides or Daily FX. These help to show what events could affect the currency trades.
Hi All,
Trust you ll be fine. I am new to this forum and so as to Forex. I am running a 10,000 demo account and already lost 300 (0.10 Leverage) in about 5 days. I did make some profit but at the end its the bad trades who won no matter what I do and how cautious I become. Its like they are spying on me lol that when I buy a pair it goes down and down and down and when I sell a pair it goes up and up!
I am an IBS patient so I want to do Forex Trading for a living in the comfort of my home. Can you guys please suggest me some basic steps I need to do? I mean I dont know when to buy/sell. Most of the time their is up trend but suddenly there is down trend and so on. Please suggest me what steps should determine to buy or sell a pair? Also do things like Expert Advisors, Forex signals work? I used some of the free signals but I lost due to that.
If there is some paid service which can help me to guide me to right direction I ll be happy to pay for that but I dont know what to do and where to start.
Please help a brother out.
Thanks!Hello,
Be patience. Start things from the beginning before thinking about earning profits. You don't need to subscribe for paid services at the start. Babypips and 2ndskiesforex are few good places to learn from the beginning without paying a cent.
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
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Hi All,
Trust you ll be fine. I am new to this forum and so as to Forex. I am running a 10,000 demo account and already lost 300 (0.10 Leverage) in about 5 days. I did make some profit but at the end its the bad trades who won no matter what I do and how cautious I become. Its like they are spying on me lol that when I buy a pair it goes down and down and down and when I sell a pair it goes up and up!
I am an IBS patient so I want to do Forex Trading for a living in the comfort of my home. Can you guys please suggest me some basic steps I need to do? I mean I dont know when to buy/sell. Most of the time their is up trend but suddenly there is down trend and so on. Please suggest me what steps should determine to buy or sell a pair? Also do things like Expert Advisors, Forex signals work? I used some of the free signals but I lost due to that.
If there is some paid service which can help me to guide me to right direction I ll be happy to pay for that but I dont know what to do and where to start.
Please help a brother out.
Thanks!