Newbie to forex

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Hello everyone,

Just introducing myself. I am Rad Misc. Would like to learn as much as i can on forex.

 

Hi!

Welcome to the forum, try reading as much as you can about forex. You will find a lot of useful sites on this forum which you can check out. I recommend that you check out my blog it will help you with some basic information, the link is in the signature. Good luck!

 

same for me! i am now reading everything i can for over 1 year but the more i read the more i loose confidence... this topic is huge!

 

Basics like risk and money management is a must for any trader, but best teacher is practice . Many theories do not work or work differently in real market. Try different strategies and trading styles until You find what works best for You.

 

You can use technical analysis to help you analyze forex position in order to detect new trading opportunities. However if you do so, one of the first and most fundamentals features you must determine is the size of time frame that you will use.

 

In addition to the comments already supplied to you, it is important to study economic theory as well. Learning how to trade currencies is very different than understanding why currencies are valuated the way they are. Governmental policy, economic forecasts, and even natural disasters all have an impact on the relative price of a currency when compared with another.

The bottom line, study, learn, and study some more.

 

With patience and a little diligence, you can expect for successful forex trading career. These frauds which abound in the financial market will not succeed if only people are alert and skeptical.

 

I am new to forex. How do I start?

felgra

 
felgra:
I am new to forex. How do I start?felgra

start on demo and try to follow accounts managed by profitable traders.

 
felgra:
I am new to forex. How do I start?felgra

Yes, you can start with demo account. on demo account a trader is given a certain amount of play money that he can trade with under real market condition.

 

I still remembered eight years ago when most old traders said that I need alot of time to learn and practise forex. Is it true or not ? It depends...After eight years of trading experiencesI concluded that I don't need all indicators except Chart 1M. 5M,1H, and so on.

My real indicator is only my EYE when watching the chart of diffrent time and I can say buy or sell.

Here is my strategy.

For you a new comer, don't worry, play the game....wait when a chart of 1H is moving and start your game. (moving upwards- go long, moving downward - go short). You will get pips.

Watch all of pairs and get which one is really moving ( I think your eyes can see if chart is really moving) and follow it.

-Do not rely on certain pairs, you don't care about it, but pips that's why you should search for moving ticks (charts)

- Stop when you get several pips and start again, stop again and start again

- Don't waste too long on searhing for good indicators, you will not find it. Your eyes will be a good indicator.

- Forex is a just like paying game for me, no loss but make pips.

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