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Thread: Some Trading tips for beginners

  1. #1
    Super Moderator RoboForex Trader's Avatar
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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. #11
    Registered user Razor1911's Avatar
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    The most important tip for a beginner is that we must have to trade with knowledge and for that we must have to practice on demo accounts first, if we don't trade on demo accounts then we will not gain the knowledge with which we can trade effectively on real accounts and thus it becomes very much necessary for a trader to trade with knowledge and experience.

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  3. #12
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    Hello all members, I think new traders should open cent account and trade about sic month before they can trade with standard account. And they should use pending orders to trade, because it is safer than if they use executive orders.

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  4. #13
    Rookie rinaji's Avatar
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    Quote Originally Posted by jackcm View Post
    I don't agree with in this point because if trader has long-term expectation and that expectation is realistic, stop order is not necessary to be placed because stop order can cause trader lose because he/she really wins. There are many other flexible ways to cut losses such as hedging and they are better than stop-loss.
    I think hedging and stop losses are the same, the same function, only the differences in psychological terms. Using stop losses as if you had received a loss, but by using hedging as if you have not received the loss. But is not the amount of your equity is the same when using hedging or stop losses? Technical means of hedging and stop losses are the same, that is why in MT5 platform there is no hedging facilities.

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  5. #14
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    yes i agree with you in this points for the beginniners you must do that :
    have good capital to start trading
    u must like the market
    tradeing in high level requires
    have good knowledge and learning
    forex is extremely volatile u must timing and know when you start and stop trading

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  6. #15
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    I see that trader s must learn macroeconomic news and put them in our mind cause they help us identify the trend easily and they may lead to change of trend that is something on the other hand you must control you greed cause it is the biggest enemy you can ever ever meet as it will lead for loss and nothing else

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  7. #16
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    I think that the most important steps to success for any beginner is to learn well at first because the forex needs to be a very good education and stay away from greed and capital management

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  8. #17
    Registered user jackcm's Avatar
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    Quote Originally Posted by rinaji View Post
    I think hedging and stop losses are the same, the same function, only the differences in psychological terms. Using stop losses as if you had received a loss, but by using hedging as if you have not received the loss. But is not the amount of your equity is the same when using hedging or stop losses? Technical means of hedging and stop losses are the same, that is why in MT5 platform there is no hedging facilities.
    You may not understand benefits of hedging technique as well as how to hedge. There are many web seminars that recommend traders not to use stop-loss but rather turns losing trades into winning ones. In my personal experience, stop-loss doesn't prevent me from losing because the matter is how good my strategy is.

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  9. #18
    Registered user dkarev's Avatar
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    well what i can only tell newbies is that Forex trading is not a play job and if one is willing to earn from the market,he/she must be willing to study hard because if not,making a dime will just a dream that will never come through.Forex is a good business but the early stage of it is very hard.

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  10. #19
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    begginer alwayse need to start trade with demo practice because demo practice alwayse give us good experiance and knowledge in this buisnes bro so i also like demo practice before trade

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  11. #20
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    Quote Originally Posted by garrysidhu View Post
    begginer alwayse need to start trade with demo practice because demo practice alwayse give us good experiance and knowledge in this buisnes bro so i also like demo practice before trade
    because many beginners may not know that their tips to trade it is to choose the indicators they would use in a trade and then choose the pair that they think is good for them and then was traded to trade using the trade better in practice on a demo account first advance so that they would be able to continue to thrive in this trade

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