Beginner's Tips
Membro Desde Jun 26, 2020
327 posts
Jul 17, 2020 at 08:37
for beginners Demo is the most decent way of learning Forex , as beginner I also use back testing feature of Mt4 trading platform. Yes, no doubt demo is useful, but it’s a slow process! Besides, back testing is quick process! I used back testing after practicing my demo for 5 months.
Membro Desde Aug 27, 2017
994 posts
Aug 05, 2020 at 12:09
loss is a thing that always taught us a great lesson but we generally cant take this general issue, we got upset when making losses and trade over and over for recovery, as a result, lost almost whole equity.
keeping patience.......
Membro Desde Jul 19, 2020
34 posts
Aug 10, 2020 at 08:19
If you are new in this market, You need to be very careful when you are going to trade. Because this is a very risky market. Many traders lose their money in this market because of making wrong decisions.
Membro Desde Jul 20, 2020
298 posts
Aug 11, 2020 at 16:26
Trading in Forex requires a lot of patience. It is impossible to trade without patience. In most cases, new traders become impatient and face losses by over-trading. New traders should usually practice demo trading. New traders can learn a lot from online. They can learn from Google and YouTube. You need to learn to trade. If you don't learn to trade, you will lose. For this, you have to do this work in the gap of learning the demo.
Aug 13, 2020 at 00:49
expkhaled posted:Yes, I am agree with, deom trading is very useful for a newbie for learning and a newbie can practice more and more with demo to get good knowledge and level of experience.
It you want right mind set the just trade with Demo as long as you can. Bcz you can find traders primary level from demo. And gather knowledge step by step and use it in demo. Hopefully within 2 yrs you will find a way to trade. When you are learner about forex plz away from real trade.
Membro Desde Aug 14, 2020
2 posts
Aug 14, 2020 at 09:58
FxFTradingGroup posted:
“I’m just a beginner in Forex, how much should I put in my account?”
This question bugs me all the time. Its like walking into a casino, and asking the people around you, ‘hey how many tokens did you change?’
Seriously dude. Everyone has a different answer, some experienced people might help you (if they are kind hearted) but most people will not care how much you win or lose. You should treat forex as a form of investment, but please DO NOT use all of your income as your token to bet on the market. You might win once, twice but you will not be that lucky all the time. Spend some time and do financial planning, set aside daily expenses, insurance etc. And once you find extra money, you can then decide whether to use them for investment, or to help the needy.
For beginners, you might want to consider ‘choosing a broker’ as one of the important choices of all time. Broker can make or break your faith in trading. Next, pick a mentor. Be it a book, a youtube channel, a guru you found online or through friend’s recommendation, do just rely solely on that ONE source of information. Gather as much information as possible, talk to more people, read forum threads so that you will gain knowledge that might be useful for you in the future.
However, some people might still choose the easy way out and opt to follow the signals of the ‘chosen one’. Not to say this is the bad approach, like I said, this is a form of investment, you are free to choose what sort of investment approach you prefer. However, I’d like to call out to those investors, you might want to check the account history of the chosen one before subscribing to his signals. The results might look good on their profile, but you have no idea how many positions and how much losses they have yet to close, so people with smaller wallet size than the chosen one might not be able to follow the signals that smoothly. Hence you might want to check with the chosen one how big would they recommend you to have in order to follow their signals.
Last but not least, I’d like to emphasize the size of an account is not as important as knowing your own trading strategy or style. I’ve seen someone trading with just a $100 account, and has grown the account 10 times its size. I’ve also seen someone with $50,000 blown overnight. So it doesn’t mean that bigger wallet size is safer for trading. Smaller account is more prone to blow, but with own strategy and right mindset, you will find big potential in this forex business.
[/ Hi Guys I'm new to trading, is there any South Africans here that has some experience under there belt regarding Brokers to use in SA
]
Membro Desde Aug 14, 2020
2 posts
Aug 14, 2020 at 10:07
Hi Guys,
My name is Hendrik I'm From South Africa.
Im new to the whole Forex Trading experience, but have been fascinated by it for some while now. I have already complete a course on Udemy called Complete Foundation FOREX Trading Course. Currently busy with a course on Baby Pip on Forex.
Is there any experienced SA Day Traders to advise on Brokers in SA?
Thank you for such a helpful community.
My name is Hendrik I'm From South Africa.
Im new to the whole Forex Trading experience, but have been fascinated by it for some while now. I have already complete a course on Udemy called Complete Foundation FOREX Trading Course. Currently busy with a course on Baby Pip on Forex.
Is there any experienced SA Day Traders to advise on Brokers in SA?
Thank you for such a helpful community.
Membro Desde Jul 20, 2020
298 posts
Aug 14, 2020 at 14:35
Trading is a very risky business. Not everyone can do that business. If you want to do this business, you have to be emotionally strong. If you want to do forex trading, you have to gather a lot of information. And first, you have to practice the demo. In addition to practicing the demo, you have to learn from a good mentor and collect a lot of information online. You have to manage risk and trade. A maximum of 2% risk can be taken in a trade. As a beginner trader, you need to select a good broker. when I started my trading carrier, I had no knowledge about Forex. I learn the basics with the help of Eurotrader markets.
Aug 18, 2020 at 11:07
Everything is uncertain in Forex market, so the newcomers always feel frustrated when trading. So before kickoff live account we have to make sure sufficient trading balance that can remove our frustration , otherwise it will be great difficult to survive in this volatile trading market.
Membro Desde Aug 27, 2017
994 posts
Aug 22, 2020 at 11:26
According to my personal trading experience, Price Action trading system is the best. It’s the most flexible one! Since you can use any kind of trading instrument here including crypto’s.
keeping patience.......
Aug 24, 2020 at 00:58
If you are newcomer in Forex trading and want to start trading then you should be very careful in Forex because Forex is very risky business and if you have no knowledge and skills before then you must learn the basics of Forex first and then join Forex trading.
Aug 24, 2020 at 06:33
Start small – Focus on big wins and you forget the importance of following the pattern. Over the long run, taking smaller positions will give you greater control. Then you can gradually increase your position size as your confidence grows.
Membro Desde Feb 22, 2011
4862 posts
Aug 24, 2020 at 07:54
cardigan posted:
Start small – Focus on big wins and you forget the importance of following the pattern. Over the long run, taking smaller positions will give you greater control. Then you can gradually increase your position size as your confidence grows.
That is good advice
Membro Desde Jul 19, 2020
318 posts
Sep 03, 2020 at 17:48
As a new trader, you can practice on a demo account to improve your ability and knowledge about forex. Almost every trader starts their trading journey with a demo account.
Sep 07, 2020 at 07:35
You can find a successful trading strategy from various sources , but if you want to get maximal result by your trading strategy first of all you have to make sure real money managing plan , otherwise that’s not possible at all to make profit with consistency despite of having most successful trading strategy.
Sep 08, 2020 at 06:53
Honestly speaking, Earning is Forex is not easy at all. There is too many who loses money simply because they take it lightly. They think knowing minimum knowledge about Forex is good to kick off trading right away. They think they can earn good amount of money in here. But one thing I want to say in order to my trading experience , in Forex trading you like digging a hole, the deeper you dig the more chance its can turn into a well and get water.
Membro Desde Aug 27, 2017
994 posts
Sep 08, 2020 at 09:25
Demo is the most decent way of learning Forex trading, but I also use back testing feature of Mt4 trading platform. Yes, no doubt demo is useful, but it’s a slow process! Besides, back testing is quick process! I used back testing after practicing my demo for 5 months.
keeping patience.......
Membro Desde Sep 08, 2020
38 posts
Sep 09, 2020 at 11:31
Make a plan and stick to it.
