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Thread: Some Trading tips for beginners

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    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.

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    Rookie layigold's Avatar
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    Beginner traders should make sure they learn forex trading properly and demo trade until they begin to record satisfactory performance consistently before they switch over to live trading . Another trading tips is to first think of the risks ever before you think of the potential profits of the trade and don't ever trade with any money you cannot afford to lose . By the time a beginner trader commits himself to serious learning , he will get some other trading tips that would be of much benefit than those ones shared by any other person.

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  3. #3612
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    The beginner trader that are interested in being a trader, that way, they don't need to be the sort of trader that read just the tips, I think they have to be more active with the market and even more practical about the whole thing, because being profitable in forex trading all comes down to the trader understanding the essence of being practical about how they want to trade.

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    Beginners must be ready to take learning seriously and therefore make better effort here to build a system that would sure see the means profits. As a newbie having the right goals to learn can help and with this we can have the strong flow to build a strong trading. Newbies must learn and be ready to do everything that will build their ability to trade and realize the goals we have always wanted.

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    I suppose the best tips for the beginner traders will be that they should be disciplined and patient with what so ever they are doing. The new traders shouldn't be the sort of trader that will want to make fast money from the market. The new trader should always be patient with the market. If you want to make money from the market. Never be the kind of trader that will want to make fast money. It will eat up your trading account. Be a good patient trader.

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    Rookie Toyen's Avatar
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    Quote Originally Posted by Ulthred View Post
    Beginners must be ready to take learning seriously and therefore make better effort here to build a system that would sure see the means profits. As a newbie having the right goals to learn can help and with this we can have the strong flow to build a strong trading. Newbies must learn and be ready to do everything that will build their ability to trade and realize the goals we have always wanted.
    That is it, the beginners which will like to trade the market successfully should be ready to learn, that will make sure that the trader is getting the experience needed to trade the market. When traders don't have the right experience, the trader is going to fail. Beginners have to sacrificed the first 6 months of their trading career for learning. Through that, the experience will be made and much earnings will be regular in the trader's account.

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  7. #3616
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    Newbies must find it very important to learn and take lessons from their trade so as to improve much more. If we are looking to make profits from this business, we should understand the very means of learning and do see we can have that means to make profits from forex. Newbies must put in enough time to learn and see they take the demo learning seriously, this would help them build a system they can follow up. It will be good if newbies can learn and do everything that will give them the chance to minimize risk.

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  8. #3617
    Rookie Sascha's Avatar
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    Quote Originally Posted by Tonycee View Post
    Newbies must find it very important to learn and take lessons from their trade so as to improve much more. If we are looking to make profits from this business, we should understand the very means of learning and do see we can have that means to make profits from forex. Newbies must put in enough time to learn and see they take the demo learning seriously, this would help them build a system they can follow up. It will be good if newbies can learn and do everything that will give them the chance to minimize risk.
    beginners has to take all positive reviews for them instead of looking things by themselves. it's hard to accept things fast in the beginning because newbies are easily broken even by small losses and mistakes. get a tutor or expert to help in learning or do this individually but very carefully. never invest any money just yet before it's the appropriate time to trade in real market.

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    Quote Originally Posted by Sascha View Post
    beginners has to take all positive reviews for them instead of looking things by themselves. it's hard to accept things fast in the beginning because newbies are easily broken even by small losses and mistakes. get a tutor or expert to help in learning or do this individually but very carefully. never invest any money just yet before it's the appropriate time to trade in real market.
    Yes that is why beginning stage is said to be sensitive when they are easily influenced by emotions or get repulsive on facing a loss. Apart from emotions there can be other reasons too for losses like some beginners dont learn first and try to earn. Being hard working and realistic in beginning days is crucial because these are the days when a person is most vulnerable to severe losses.

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    Rookie layigold's Avatar
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    Quote Originally Posted by AmitChallenger View Post
    Yes that is why beginning stage is said to be sensitive when they are easily influenced by emotions or get repulsive on facing a loss. Apart from emotions there can be other reasons too for losses like some beginners dont learn first and try to earn. Being hard working and realistic in beginning days is crucial because these are the days when a person is most vulnerable to severe losses.
    I do not think there is any trader that got things smooth sailing at the early stage of his trading career no matter the level of his knowledge and experience. It is a matter of must to face trading challenges and overcoming these challenges metamorphose into wealth of experience and good trading skills. Without overcoming some of these challenge, there is no any trading tips coming from outside that will ever work for you .

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  11. #3620
    Rookie Rylai's Avatar
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    Quote Originally Posted by layigold View Post
    I do not think there is any trader that got things smooth sailing at the early stage of his trading career no matter the level of his knowledge and experience. It is a matter of must to face trading challenges and overcoming these challenges metamorphose into wealth of experience and good trading skills. Without overcoming some of these challenge, there is no any trading tips coming from outside that will ever work for you .
    Commonly people who started this for their first time will get a lot of troubles and you're right there's no smooth beginning for all of traders. we all started this as beginners and we know that beginners always makes random mistakes any time. one most important tip is to understand how risky market is and don't ever thinking about going for real trading because it'll be waste of money.

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