Your Best Tip to Forex Newbie

[boniez]

Well I think best thing to do is to learn from e-books the basic technique of trading and try always to ask pro trader their opinion about all the day and profit from their vision and you should have your own demo account that will help you to build good strategies and perfect skills . Practice and practice is the only secret to succeed , every one tell me the same thing .

but not only through the ebook for us to learn and understand about forex,,,

that component was still not enough and needs guidance from experts to strengthen our learning,,,

[sirwilly]

Ebooks are undoubtedly the best resource for learning Forex these days, and with reseller rights, it is possible that we can get several excellent ebooks written by the best traders at little cost or even free of charge.

[matiskater]

yeah i agree, someone that doesnt understand about forex business is like a big risk to loose money..need to know the business goo to suceed

[boniez]

yeah i agree, someone that doesnt understand about forex business is like a big risk to loose money..need to know the business goo to suceed

I think not only forex but also all the business needed learning first, let alone forex is a business that has a high risk

[Nikhil]

I think not only forex but also all the business needed learning first, let alone forex is a business that has a high risk

I also agree with you . but in other business there is limit of learning means if we reach in particular position than we will able to continue but in forex i am seeing there is no end of learning and obviously there is full risk in here as well as big award.

[andry777]

I think not only forex but also all the business needed learning first, let alone forex is a business that has a high risk

 

I am agree with you. It's not only forex which needed to learn first when we wanted to be success but if we wanted to earn profit

from another business, we must learn how to make profit with that too. In forex, we could learn from other traders and from forex

forum. I think that is better than another else business.

[caspir]

My best tips for newbiers, as i am also using these are learned from other experience and get their suggestions and tips, this can be done very easily from different forums including this, and than try your skills first in demo account before entering in real account.

[silenteyes]

Believe in yourself is the best thing to have in forex. This believe will come by practicing in demo account.

Now you have to make your own strategy instead of following others. It will help you to be on track quickly.

[t2t]

My best tip for a newbie who want to start trading forex is to know the importance of money management. Know how to quit and when to draw the line when you are not doing well. And you should avoid GREED! And don't trade with tension.

[Nikhil]

@memoney you are fully correct . newbie need those things to get profit from trade not newbie experince also need . but one things more importance for newbie is patience because some time after oppening trade there is no movement of market and its move very slowly and for profit its need to patience too.

[Legendkid]

Newbies need to know time management in forex too.Since this is one big aspect forex too.

We don't need to pursue our loss,as a newbie, when you are losing,the best way to go about it,is to stand up and take a stroll,or else,you can trade with all your money and regret it.

[Nikhil]

Newbies need to know time management in forex too.Since this is one big aspect forex too.

We don't need to pursue our loss,as a newbie, when you are losing,the best way to go about it,is to stand up and take a stroll,or else,you can trade with all your money and regret it.

you are telling straight cut and its very true and i also fully agree with you. but before regret we need full money management and have to ability to keep loss as well as profit .

[yogeshwartyagi]

For newbies i would suggest not to use higher leverage in your trades as this can cause your trades closed unwantedly. Further use simple strategy go with trendz when prices are increasing go long and when the trend changes exit out of position.

[boniez]

For newbies i would suggest not to use higher leverage in your trades as this can cause your trades closed unwantedly. Further use simple strategy go with trendz when prices are increasing go long and when the trend changes exit out of position.

it does not always happen, and it must be stressed that use high leverage also assist us in putting up orders, the evidence many brokers that offer high leverage right there

[andry777]

@yogesh

If me, I am different with you. I suggested newbie to use high leverages because it will be lesser in risk if we used higher leverage

but you must use normal lot size off course. If you used high lot size, it will be useless although you used high or low leverage.

[Nikhil]

@andry777 i also agree newbie should use high leverages because of loss huge . but have to control emotion also to use normal lot size otherwise there will never be difference to use low leverage. the main problem is that most of the newbie which i know when get loss than try to take revenge and at that moment this higher leverage save no doubt if market goes against again.

[girlaloosh01]

For forex beginners, they must remember that achievements started from small things. Like here in forex,

it's not an easy thing to do. Yes, trading is there, but it's not just merely trading with other people. It also involves several

strategy and tips that one must be able to adapt with for him to go with the flow in the world of forex. And so for newbies,

the best thing to is to be patient and be wise in everything step that they do. Decision-making is important here,

that's why he/she should no when to start and stop trading.

[bloger90]

I think a new person should have a fair knowledge in technical analysis. (Chart patterns and indicators).

[andry777]

@Nikhil

That is emotionally but if we had good money management, that won't happen. If we had good money management, using higher leverage will give us chances

to hold more pips but it will give impact to our psychology because we got few dollars for many pips. So it will depend on each trader to control this.

[bloger90]

I'm also new to forex. What i did was i practice with the demo accounts for two - three months with the brokers i was intended to invest. So it allowed me to test their platforms too.

So during my practice period i learn technical analysis and try to identify the best combination of indicators so that i can identify trends correctly. Joined some forex discussions forums and learned from the experts.

There are lot of ebooks available. you should read then and should learn both technical analysis and and candlestick patterns.

[winning11]

Just remember forex trading is not a "get-rich-fast" program. It is hugely painstaking and requires patience as well as judgement. I think a newbie has to be a little meticulous when dealing with actual trading, or you may run the risk of losing all the money in your account.

[boniez]

trying to maintain good a money management as well, because it affects the resilience of our investment funds from margin call. besides that trading experience is more necessary than other, because I think it is almost cover all aspects of trading stuff

[winning11]

trying to maintain good a money management as well, because it affects the resilience of our investment funds from margin call. besides that trading experience is more necessary than other, because I think it is almost cover all aspects of trading stuff

 

I agree. You can just think that you are paying the tuition of getting to learn the art of forex trading. It will really cool down your mind when you start to lose money. I believe the experience matters the most in the beginning.

[Nikhil]

I agree. You can just think that you are paying the tuition of getting to learn the art of forex trading. It will really cool down your mind when you start to lose money. I believe the experience matters the most in the beginning.

There is no doubt experience is the matter and this will help us more and more in market but to get this we need patience and have to time because it need so many time to get experience and no doubt to gain this we have servive so many days in real market of forex.

[yogeshwartyagi]

I would suggest to always ride the trend and exit when you see sign of reversal, also never use too much leverage to avoid unwanted closure of trades due to lack of margin, also do not over trade, trade less but wise.