boniez Posted May 3, 2011 Posted May 3, 2011 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. most leverage is set when you first open an account, so I guess it is a standard 1:500 to invest in small funds. I think exactly the size of lots that must be considered when opening an order Quote
indieover Posted June 13, 2011 Posted June 13, 2011 most leverage is set when you first open an account, so I guess it is a standard 1:500 to invest in small funds. I think exactly the size of lots that must be considered when opening an order better not play with leverage if you are still a newbies. it is not important for newbies to use leverage. they should stick with small leverage. as it indeed very dangerous for newbies to choose a higher leverage. Quote
andry777 Posted June 14, 2011 Posted June 14, 2011 @indieover I am disagree with you. Higher leverage will be much safer because with higher leverage, so your risk will be lower. If you used 1:1000 leverage with same lot size, it can hold more pips than if you used 1:500 leverage. I suggested to use high leverages. Quote
standart Posted June 15, 2011 Posted June 15, 2011 @andry777 use high leverage basically is more risky than use low leverage because with high leverage trader can't trading use small lot. if the deposit low, it meant can take high risk loss. use small lot is safer and trader can use small lot for their order. Quote
Nikhil Posted June 23, 2011 Posted June 23, 2011 @standart yes its true and for this we need to start with low lots because if we strat trade with high lot then low it may affect our emotion . anyway its good to go ahead slowly because it has low risk but if go faster then possibility to get disaapointed also. Quote
winning11 Posted July 3, 2011 Posted July 3, 2011 I have to make another point here. As a newbie, one the most important things is the eagerness to learn. You must have something motivate you to enhance your trading skills. It is very dangerous to reject learning and start out all by yourself, especially when you are handling real money. You can always find places to learn if you really want to. There are lots of forex videos and forums on the internet. Quote
andry777 Posted July 5, 2011 Posted July 5, 2011 @standart How could you say that? With high or low leverages, we still could use low lot size. There is no connection between leverages with lot size, even you used 1:1000 leverages or 1:100 leverages, you still could use 1 lot but it will be different on its value. And the values is lower in dollars when you used higher leverage so I don't get what risk which you mean here? Quote
winning11 Posted July 6, 2011 Posted July 6, 2011 @andry777 I think what standart is trying to say is, there is a minimum lot size. If your account has a balance that is insufficient considering leverage, or the fund is not enough even trading the smallest lot, you will be really risky. So this comes to the importance of free margin. Quote
hyipreviewblog Posted July 8, 2011 Posted July 8, 2011 don't open a big lot if you only have a small principal on your account.... I only open 5-10% of my principal for every trading...that to prevent me for MC.... I find some people only open 1-2% from his principal but he has a big principal on his account.... Quote
antthenait Posted July 9, 2011 Posted July 9, 2011 don't open a big lot if you only have a small principal on your account.... I only open 5-10% of my principal for every trading...that to prevent me for MC.... I find some people only open 1-2% from his principal but he has a big principal on his account.... @hyipreviewblog I completely agreed with you , that we've to take little risk for total units. Where it's possible to gain 08-12% of total return. Just think about our total no of currency, then set target for each quarter where we've calculate and split the no for each. Then find some dealer who needs small or our wanted amount of units, later tie up with them and exchange for own currency (normally usd or euro). But low to high or high to low doesn't matter. We just keep our calculative risk then make profit. Quote
winzpc Posted July 23, 2011 Posted July 23, 2011 Hi, I also a nubie trader. I think the best way for nubie like me to learn the basic knowledge and practicing this forex business with demo account. Prove in demo account that I can make a profitable trade consistently in every month. Using a right money management, also try to make own system trading. Beside that our own personality must be trained to be more patience and discipline. winzpc Quote
andry777 Posted July 25, 2011 Posted July 25, 2011 @winzpc Yes, in the first time we should learn how to trade well in certain condition of market. And to make it real so we should use demo account in the first time of our trading. It is impossible to use real account directly and you could trade well. At least, that was that I experienced when I learned about forex. So there must be step by step to pass, no shortcut and no instant way to be successful trader. Quote
hyipreviewblog Posted July 25, 2011 Posted July 25, 2011 @winzpc Yes, in the first time we should learn how to trade well in certain condition of market. And to make it real so we should use demo account in the first time of our trading. It is impossible to use real account directly and you could trade well. At least, that was that I experienced when I learned about forex. So there must be step by step to pass, no shortcut and no instant way to be successful trader. Every new trader should learn first by using demo account and when they feel ready they still need to learn more and more using learn account cause it is very different when you trade with real account and demo account. What different here is on emotion cause we don't feel it on demo account. Just like doctor, he/she can operate many people easily but when comes to one of his/here family members I think they can really do it in good way. So like forex when using real account you're using you own money to trade, it is very different from demo account. Quote
hoanglong Posted August 29, 2011 Posted August 29, 2011 Newbies must know what they can do and what they can not. As Forex traders. with our experience and the help of indicators we can predict the market but it's just predict and there have no way we can ensure what actually will happen so don't get over confident and trade with all you have. Quote
bringpeace Posted August 30, 2011 Posted August 30, 2011 If loss, forget it because any loss and get profit, it usual in forex. So if you get loss, stop think you will loss again, you need think you will win again and trading again. And don't forget what things thta make you loss, fix that and then trading with good Quote
yogeshwartyagi Posted September 4, 2011 Posted September 4, 2011 I am not very experienced or expert to give the best tip to newbies as i am learning too as there is lot to learn in forex trading, but i would still like to say that dont overtrade or dont be overexited always keep some money for your next trade and be prepared to bear losses while expecting for gains. Quote
adnan007 Posted September 9, 2011 Posted September 9, 2011 The most important thing in Forex is to set a SL and TP when you take a new position. I would suggest the newbies to place a SL and TP on every trade they commit as there are times when markets move quite strongly and you might receive a margin call and end up loosing all of your initial deposit in a single go.... Quote
LRdude Posted September 10, 2011 Posted September 10, 2011 Best thing for a newbie is to get some information first.Every Forex broker offers a demo account but some brokers also offer free Forex schools and courses.So its not a bad thing to check out those and learn a few new tricks.Newbie can also buy books about forex but why buy there are so many books to download on internet hehe Quote
riddick09 Posted September 27, 2011 Posted September 27, 2011 Best thing for a newbie is to get some information first.Every Forex broker offers a demo account but some brokers also offer free Forex schools and courses.So its not a bad thing to check out those and learn a few new tricks.Newbie can also buy books about forex but why buy there are so many books to download on internet hehe Yeah, i have seen so many free resources of forex in the forums, ebooks, youtube, news. So really need to study first the forex. And i also focus with the terminologies. I also think that the advice of the experts in the forex will be a great help too. Quote
adnan007 Posted September 27, 2011 Posted September 27, 2011 Yeah, i have seen so many free resources of forex in the forums, ebooks, youtube, news. So really need to study first the forex. And i also focus with the terminologies. I also think that the advice of the experts in the forex will be a great help too. There are no doubts that internet is the best place to learn the Forex basics and at the same time back up your knowledge with some Demo account trading. Once a trader has developed an strategy, then he is all set for trading for real money. Quote
riddick09 Posted September 27, 2011 Posted September 27, 2011 There are no doubts that internet is the best place to learn the Forex basics and at the same time back up your knowledge with some Demo account trading. Once a trader has developed an strategy, then he is all set for trading for real money. The only problem with the internet free forex resources are the different strategies they are trying to give us. These gives me confusion with the strategies that i have already learned. So we need also to meticulous in finding forex materials. Quote
adnan007 Posted September 27, 2011 Posted September 27, 2011 The only problem with the internet free forex resources are the different strategies they are trying to give us. These gives me confusion with the strategies that i have already learned. So we need also to meticulous in finding forex materials. Well, in that case you should focus on a single strategy rather trying learn several strategies at the same time which surely is confusing. Just try to find the best strategy which suits your trading style and go for it rather then trying several strategies and ending up getting confused. Quote
budado Posted November 29, 2011 Posted November 29, 2011 The only problem with the internet free forex resources are the different strategies they are trying to give us. These gives me confusion with the strategies that i have already learned. So we need also to meticulous in finding forex materials. Learn one, adopt one, learn more adopt more. If you get confuse then just learn one at a time. For example. Me I only trade two pair until now. But every week I keep on trying to improve my trading by learning more strategy. And the funny thing is that the more I learn the less I trade. And its also frustrate me at first. Only to realize the less I trade the less I loss and when I trade theirs a great chance that I earn. So in a month I earn more even I trade less. Quote
riddick09 Posted December 4, 2011 Posted December 4, 2011 Learn one, adopt one, learn more adopt more. If you get confuse then just learn one at a time. For example. Me I only trade two pair until now. But every week I keep on trying to improve my trading by learning more strategy. And the funny thing is that the more I learn the less I trade. And its also frustrate me at first. Only to realize the less I trade the less I loss and when I trade theirs a great chance that I earn. So in a month I earn more even I trade less. Yeah. I think that it is also good to have learn slowly and not only depend or rely on what we have learned. Because it is continuous progress so it is necessary to learn something new and also apply in trading strategy. You are saying like of "the less trade the more profit" which i believe that experts have that thoughts too. Quote
yogeshwartyagi Posted December 4, 2011 Posted December 4, 2011 To be a good trader you should dare to admit in time if their prediction/analysis was not right and close trade by letting stop loss tirgger. Booking loss is not bad bad or shameful but letting leaving your trade to go in unlimited loss is kiddish. Quote
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