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  1. #1
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    Some Trading tips for beginners

    Forex trading provides for exchanging money from one currency to another, based on whether a currency will rise or fall in value. Forex trading not as easy as it may seem; even seasoned investors make ill timed decisions and lose a lot of money. You can get a profit if the currency you have invested in rises in value, but you will lose money if you invest in a currency that devalues, on the other hand.

    Following are some forex trading strategies and tips that could help you as you start off in the Forex trading market:
    • Choice of the currencies to invest in must be very careful. Forex currency exchanges happen by pairs – you trade money from one currency back to the other. The most popular pairs are EUR/USD, GBP/USD, EUR/JPY, AUD/JPY, NZD/JPY and AUD/USD. There are many more currency pairs but these are considered to be the least risky.
    • Work with a professional Forex trading specialist. There are numerous specialists; choose one who has experience in exchanging the particular currency or currencies you are interested in to invest. A Forex trading specialist can give you good advice about which currencies to buy and when, and when to sell the currencies you are holding. While it does cost money to hire such a professional, it will be worth it both in the long and short term. There is a lot you can learn from a professional Forex trading specialist.
    • One of the most popular Forex trading strategy is the carry trade strategy. In simple terms, this means investing in a particular currency that is then kept in the bank for some time. If the concrete country has high interest rates, then by holding that currency in a bank account you accrue high interest on it. This particular forex trading strategy does have its risks, however. Interest rates rise for different reasons; if the predominant reason for high interest rates is a capital shortage, then you may want to avoid using this strategy.
    • Stay abreast of the news. It is important to stay abreast of not only the financial news, but also general international news. A country’s currency can devalue due to political instability or national disasters. What affects the country will affect its currency. You will also want to be aware of what market analysts are predicting; the more you know about a particular country and its currency, the more knowledgeable you will be in making decisions regarding your Forex investments.


    If you are new to Forex trading, then one of the best Forex strategies you can employ is to start with small. You can open a mini Forex account for as little as $300. Many people who have invested in the stock market choose such accounts as an additional investment, as these accounts help you to get used to the way Forex trading works. There are a number of Forex brokers offering such accounts; compare different brokers to see which one is the best for you, as a lot depends on what particular currency or currencies you have chosen to invest in and how much money you start with.

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    Last edited by Patkhak; 01-24-2013 at 10:51 AM.

  2. #101
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    Quote Originally Posted by biglot View Post
    I also agree with you sir, in forex trading there are many foreign currency pairs that can be traded, but not to all foreign currency pairs that can be simultaneously under our control. Especially for a beginner should use only one or two currency pairs first, and usually easier to use EUR / USD or GBP / USD as your explanation.
    Well this is true that it will not be possible to know about each and every pair perfectly, but a trader can try to gain most about the pair he intend to trade in. Once you know well about the movement style and fundametals of a pair it would be easy to trade profitably.

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  3. #102
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    Starting moment of trading life is very hard. Don't be afraid and should be patience at the moment. At the starting moment every trader should use Demo account to practice for sometime at first. It is very important to learn from mistake. So it is better to learn from the mistake of demo account. because mistake in real account is very harmful for a trader. So stay with demo account until your trading strategy become strong.

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  4. #103
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    The trend is the friend of a trader, every trader whether novice or experienced should follow the trend, go against the trend is suicide, especially for a beginners. I think that before a new trader learn indicator and strategies,he must begin by learning to identify the trend and its reversal.

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  5. #104
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    We all know the tips how to be a successful trade . But it is a matter of great regret that many trader forget about those at the time of trading . But i will say learn trading first then try to do trade You can take help of indicators , stop loss and money manager .Moreover we need to control our emotion when we trade .We should give up greed and at first select a comfortable system of analysis.

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  6. #105
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    1-know what is Forex and know when you will enter and apply the knowledge you learn with practice , because i think the practice make the learning is easy .
    2-make stop loss to dont loss all of your account .
    3-make your take profit and limit your profit in each day to protect yourself from greed .
    4-you should have money management and plan and patient for your future .

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  7. #106
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    In my own on this regard, i can only tell the traders that are coming newly to the market to know what they want and the reason why they have decided to trade the risky market first, you will not say that it is not the way that you expected it, and that is why you are backing off later. Also, have a good plan, and trade the plan that you have alone and always.

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  8. #107
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    I would like to advice all the newbies, that please please please kindly learn forex trading first. Dont directly jump and open up a live trading account and deposit money and start trading without knowledge. Without knowledge anything is risky . So be careful.
    So first get knowledge, trade on demo account, get experience, and then come and trade on cents account first and then on standard :)

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  9. #108
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    Quote Originally Posted by taharoyal52 View Post
    I would like to advice all the newbies, that please please please kindly learn forex trading first. Dont directly jump and open up a live trading account and deposit money and start trading without knowledge. Without knowledge anything is risky . So be careful.
    So first get knowledge, trade on demo account, get experience, and then come and trade on cents account first and then on standard :)
    yes you are right,we must have a good knowldge and have a good strategy from demo account before we make investment on forex trading,because forex trading is risky business and we can loss all our money with quickly if we start on real account without a good knowledge and a good strategy.

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  10. #109
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    to be successful in forex required strong mentally strong and great commitment in this business, traders are only halfway and just want profit without the hard work in advance will not be successful in forex. forex is not to play man, so my advice for beginners do not just be tempted with the profit.

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  11. #110
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    first thing that every beginner must need to do is to work on demo account demo account can bring confident. it can make a beginner a skillful trader. keep practising in demo account will able you to trade live in very short time. get the basic abilities " knowledge, experience, and skill" and then no can stop you from success. these are the only ways for success.

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