First of all start to learn how to trade forex. Make learning your habit. Then make sense of how to control your sentiments. There is no place for insatiability and fear in trading. Regardless, this trading regimen isn't for the unassuming or leave heart. Then find a good broker where you can practice Demo trading.
Trading tips for beginners
- Thread starter Maxwell J
- Start date
Forex trading is not a game. It has so much risk. Every trader should learn the basic knowledge about forex before entering into the market. Lack of knowledge can put them into the big problem. knowledge about forex can be learned by many ways. But the best way of learning forex is to open a demo account. This can help him to get knowledge, by which he can at least make profit slowly. When I was new in this market, I gathered knowledge by opening a demo account in Tpglobalfx. It helps me to know about forex, about trading. I also know what is good for me and what is not. I am still trading with them. They are really helpful.
The trading spreads is a big deal when choosing a reliable broker , we can choose the broker which for all time make sure best trading environment by providing lowest trading spreads which is very supportive to make profit with certainly by using any kinds of trading strategies in particularly the scalping that brings profit in a short time. That’s why when choosing a broker we have to looking for better trading spreads.
Roberto David
New member
Only few tips:
Avoid emotional trading
No greed and fear
Enhance your trading skills and knowledge
Avoid emotional trading
No greed and fear
Enhance your trading skills and knowledge
Oliver_578
Member
Well you must check the reviews and ratings but don't depend on it solely. Check trading conditions too.
The trading spreads is a big deal when choosing a broker, despite of good trading knowledge that’s not possible at all to lead a successful trading life if you don’t have a comfortable trading spreads. now I am looking for lowest trading spreads which is very supportive to make profit with certainly by using any kinds of trading strategies in particularly the scalping that brings profit in a short time.
Learning on forex is very crucial and you need to give time for learning. After learning, start demo trading. Choose good ecn broker for starting your trading. Invest money wisely on different account. You should not put all your money on same account. So trade with a strategy and stay on your strategy.
If we want to get maximal result by scalping we the traders first of all have to make sure the lowest trading spreads which is very supportive to make profit with certainly by using any kinds of trading strategies in particularly the scalping that brings profit in a short time. Because the trading spreads is a major issue when scalping practically.
trade2getrich
New member
I am doing scalping and I totally agree with you. To reduce my trading cost I use forex rebate provider
You must be registered for see links
. They support 70 brokers. I use them 5 years and I get money each month. There is no risk and everything is free.From my experience trading, Define your Goals and Trading Style. Each trading style has a different risk profile, which requires a confident attitude and approach to trade successfully.
For example, if you like to trade off of Fibonacci numbers, be sure the broker's platform can draw Fibonacci lines. A good broker with a poor platform, or a good platform with a poor broker, can be a problem. Make sure you get the best of both.
For example, if you like to trade off of Fibonacci numbers, be sure the broker's platform can draw Fibonacci lines. A good broker with a poor platform, or a good platform with a poor broker, can be a problem. Make sure you get the best of both.
there is a lot to discuss, but lets try summarize them into, lower expectations, understand that the learning process never ends, its a business not a gamble, and well i guess we all blow an account every now and then LOl, I did blow a couple when i first traded with hotforex back in 2013, on a positive note they smaller ones back then lol
skrimon
Member
Why news is important in forex?
I guess traders are drawn to forex news trading for different reasons but the biggest reason is volatility. Simply put, forex traders are drawn to news releases for their ability to move forex markets. 'News' refers to economic data releases such as GDP and inflation, and forex traders tend to monitor such releases considered to be of 'high important'.
What is your opinion on Forex news?
I guess traders are drawn to forex news trading for different reasons but the biggest reason is volatility. Simply put, forex traders are drawn to news releases for their ability to move forex markets. 'News' refers to economic data releases such as GDP and inflation, and forex traders tend to monitor such releases considered to be of 'high important'.
What is your opinion on Forex news?
Onbongo
Member
Retail traders should sit on their hands during most news events if they want to keep their money
Yeah, i totally agree with you here. News is crucial.
bentetr0
New member
Get this question a lot and I understand why. As lucrative as this forex market seems to be from the other side, there’s not a single trader who’d say that his road to success had been a bed of roses. One thing that’s common with each is a set of strategies he used to reach a level he’s at right now. In a nut-shell:
· Prepare for the trade and by this I mean, scroll your way through free online courses, books, and journals by traders. Remember diving into the forex market without any legitimate preparation will keep you exposed to monetary risks and dangers.
· Make a trading plan or journal of the do’s and don’ts before you move ahead. Give it some thought and a lot of your time and once you have a blue-print in hand, stick to it.
· Practice, practice, and practice more. Nothing would beat this. Now, what you have to decide is whether to go for demo trading that makes you invest zero amount or micro trading where you can invest little but get a hang of the real world trading.
· Stay focused and move ahead slow and steady. Keep your emotions in control and don’t let them get the better of you. Know your risk tolerance level.
Remember forex trading isn’t a cake-walk. Accept your losses but never give up.
· Prepare for the trade and by this I mean, scroll your way through free online courses, books, and journals by traders. Remember diving into the forex market without any legitimate preparation will keep you exposed to monetary risks and dangers.
· Make a trading plan or journal of the do’s and don’ts before you move ahead. Give it some thought and a lot of your time and once you have a blue-print in hand, stick to it.
· Practice, practice, and practice more. Nothing would beat this. Now, what you have to decide is whether to go for demo trading that makes you invest zero amount or micro trading where you can invest little but get a hang of the real world trading.
· Stay focused and move ahead slow and steady. Keep your emotions in control and don’t let them get the better of you. Know your risk tolerance level.
Remember forex trading isn’t a cake-walk. Accept your losses but never give up.
