Beginner's Tips
Feb 24, 2019 at 07:47
3 months is too long. Just do it for a week. Then move to micro account. It is much better for learning. Only when money is involved do you take trading seriously. That is how pros learn. They use a small account and then learn properly
Feb 24, 2019 at 13:50
Imamul posted:
There is anybody who has 0 pips trading spreads , as a scalper now I am looking for 0 pips trading spreads which is the key to success for scalping that brings profit in a short time than other trading strategies in Forex.
Do a facebook/google search for ECN brokers
Member Since Jan 05, 2016
1189 posts
Feb 24, 2019 at 22:25
RedSox posted:
3 months is too long. Just do it for a week. Then move to micro account. It is much better for learning.
Telling a new trader to start trading a live account after only a week is absurd. That is an absolutely a horrible idea.
RedSox posted:
Only when money is involved do you take trading seriously.
Nonsense.
I personally know several new traders that take their trading education very seriously and they trade on demo accounts right now.
RedSox posted:
That is how pros learn. They use a small account and then learn properly
No. This is NOT how pros learn.
Professional traders study and practice on demo until they have fully mastered their strategy where they can consistently generate a steady profit over a reasonable period of time.
Pro traders also understand the importance of money management, which also includes NOT trading on live if you don't know what you're doing.
Please refrain from giving bad advice to new traders.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Mar 03, 2019 at 06:40
My top tip would be to take it slow. Do not rush your education , demo trading or anything else. If it takes a year before you even start on demo then that is fine. This is all about the long term. Stick with it and you will get there
Mar 08, 2019 at 05:48
So many new Forex traders try to make money from here without learning. As a result they become loser due to lack of exact trading knowledge. It’s a common thinking. I think by and large lose because they trade with emotions and don’t know how to manage money in Forex.
Member Since Feb 11, 2019
34 posts
Mar 10, 2019 at 06:48
Im a newbie so this is a great thread to follow :)
Member Since Feb 22, 2011
4862 posts
Mar 12, 2019 at 07:45
1. Prepare plan of trading
2. Focus and that plan, trade according to that. Keep focused on that ONE thing. Do not alter the plan or combine it with other techniques.
3. At any moment you have to KNOW what to do, keep trade open, close, do not trade...
4. If it works - voila keep it the way it is.
If it does not work - update the plan or make new one and go to point #1
Following these simle steps always lead to point #4
People does not have the patience though to achieve it. Are you an exception?
2. Focus and that plan, trade according to that. Keep focused on that ONE thing. Do not alter the plan or combine it with other techniques.
3. At any moment you have to KNOW what to do, keep trade open, close, do not trade...
4. If it works - voila keep it the way it is.
If it does not work - update the plan or make new one and go to point #1
Following these simle steps always lead to point #4
People does not have the patience though to achieve it. Are you an exception?
Member Since Mar 11, 2019
10 posts
Mar 12, 2019 at 08:08
All major currency are good. Exotics are horrible. Huge wins one day, huge losses the next. Better play around with eur, usd, cad, gbp all those are better for newbie
Mar 12, 2019 at 10:55
generally we the traders select our trading target according to our knowledge and experience , i have seen our target fall when it not realistic, over target always make us greedy and emotional. so it is more appropriate to ensure practical trading target.
forex_trader_565984
Member Since Oct 08, 2018
144 posts
Mar 12, 2019 at 15:11
Imamul posted:In my experience, the best practice to deal with emotions in trading is to use pending orders instead of market orders .
generally we the traders select our trading target according to our knowledge and experience , i have seen our target fall when it not realistic, over target always make us greedy and emotional. so it is more appropriate to ensure practical trading target.
Placing market orders means emotions will definitely affect irrespective of how experienced a trader is and he is bound to make some mistakes by emotions. But pending orders at a fixed market price, stoploss and take profit don't have such problems of emotional trading.
Member Since Mar 12, 2019
2 posts
Mar 13, 2019 at 07:04
walpants posted:
I would love to be a successful trader but i know it takes time and dedication to learn,right now i am a long way from it but hopefully will get there one day.
i am always learning more as i go along, so i guess we are on this journey together!
Member Since Mar 12, 2019
2 posts
Mar 13, 2019 at 07:05
Imamul posted:
generally we the traders select our trading target according to our knowledge and experience , i have seen our target fall when it not realistic, over target always make us greedy and emotional. so it is more appropriate to ensure practical trading target.
could not have put this better myself... patience and a lot of practice is SO IMPORTANT.
forex_trader_688163
Member Since Feb 28, 2019
140 posts
Mar 13, 2019 at 07:47
togr posted:
1. Prepare plan of trading
2. Focus and that plan, trade according to that. Keep focused on that ONE thing. Do not alter the plan or combine it with other techniques.
3. At any moment you have to KNOW what to do, keep trade open, close, do not trade...
4. If it works - voila keep it the way it is.
If it does not work - update the plan or make new one and go to point #1
Following these simle steps always lead to point #4
People does not have the patience though to achieve it. Are you an exception?
This is the best bro. Newbie should follow this.
