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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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    Registered user mexima's Avatar
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    all the thing which you are discuss in important because these are very important in real trading how ever if you are working will trading specialist than you don't need any strategy because your specialist is our strategy but once your are of specialist then you need to make your om trading strategy for future safe trading .

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    Registered user Toyen's Avatar
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    Quote Originally Posted by mexima View Post
    all the thing which you are discuss in important because these are very important in real trading how ever if you are working will trading specialist than you don't need any strategy because your specialist is our strategy but once your are of specialist then you need to make your om trading strategy for future safe trading .
    I have read what this traders is taking about on his thread, i have likewise read what many traders have to say about the beginners of this market. I believe that when beginners can read all of them well, it will be a moral support for them, and they will be able to trade the market in the more polite manner. I am not a trader that started with this opportunity here, yet i know that it is good to take things easy and learn first before taking risk with your trading account.

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    Quote Originally Posted by mexima View Post
    all the thing which you are discuss in important because these are very important in real trading how ever if you are working will trading specialist than you don't need any strategy because your specialist is our strategy but once your are of specialist then you need to make your om trading strategy for future safe trading .
    I don't get your point, but I know for sure that any one in the forex trading market needs to have a good trading strategy which they should be trading with. A good trader is the one who understand the market. Who knows what they should do and then what they shouldn't. Experience has got to make me know that, beginners should often focus on developing good trading strategy.

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    Quote Originally Posted by Makaveli View Post
    I don't get your point, but I know for sure that any one in the forex trading market needs to have a good trading strategy which they should be trading with. A good trader is the one who understand the market. Who knows what they should do and then what they shouldn't. Experience has got to make me know that, beginners should often focus on developing good trading strategy.
    beginners should focus on strategy no doubt but the issue is some time we people try some bad strategies so its wrong, we can not do well with this way, we can use a good way if we have management, if we know the way to learn, so in any strategy just wait and place right orders, but if you get loss or profit so learn from every single loss, so never try to trade without evaluation process, its necessary here

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    Registered user Toyen's Avatar
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    Quote Originally Posted by naeem555 View Post
    beginners should focus on strategy no doubt but the issue is some time we people try some bad strategies so its wrong, we can not do well with this way, we can use a good way if we have management, if we know the way to learn, so in any strategy just wait and place right orders, but if you get loss or profit so learn from every single loss, so never try to trade without evaluation process, its necessary here
    It will be wrong for beginners to focus only on their trading strategies, that is the mistakes many traders are making. From the beginning times which traders are trying to learn how to trade the forex market, i believe strongly that all the necessary aspects of trading should be learned together, this will help the beginner to strongly develop himself in the every necessary areas of trading, especially in the area of account management.

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    Quote Originally Posted by Toyen View Post
    It will be wrong for beginners to focus only on their trading strategies, that is the mistakes many traders are making. From the beginning times which traders are trying to learn how to trade the forex market, i believe strongly that all the necessary aspects of trading should be learned together, this will help the beginner to strongly develop himself in the every necessary areas of trading, especially in the area of account management.
    beginner can learn and mostly try to learn but they learn in wrong ways they do demo as demo, but i believe if we do demo as real we can learn, because on demo we uses some big capital some big lots so we can earn big and mostly think we can become rich on real in days, so its wrong, we should do demo slowly as we do real, this practice can tell us what we can do in reality, so if we correct our learning we can earn later as well

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    Registered user mexima's Avatar
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    Quote Originally Posted by naeem555 View Post
    beginners should focus on strategy no doubt but the issue is some time we people try some bad strategies so its wrong, we can not do well with this way, we can use a good way if we have management, if we know the way to learn, so in any strategy just wait and place right orders, but if you get loss or profit so learn from every single loss, so never try to trade without evaluation process, its necessary here
    well i think beginner should focus on the basic to advance method of trading instead of leaning strategy because strategy is also made up of the basic concept of method like mixture of indicator and pattern if trader don't know the basic concept then how should be focus on the strategy even they will not understand the concept of particular strategy.

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    Quote Originally Posted by mexima View Post
    well i think beginner should focus on the basic to advance method of trading instead of leaning strategy because strategy is also made up of the basic concept of method like mixture of indicator and pattern if trader don't know the basic concept then how should be focus on the strategy even they will not understand the concept of particular strategy.
    strategy can be based on basic concept but the issue is some time we do not make our base strong, in simple trading most of time we use some greedy trade we try to earn more and more and in that hurry we just lose, so i think its wrong way, we can survive if we have patience, if we have management and proper analysis if we do not have these we cannot survive for long

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    Quote Originally Posted by mexima View Post
    well i think beginner should focus on the basic to advance method of trading instead of leaning strategy because strategy is also made up of the basic concept of method like mixture of indicator and pattern if trader don't know the basic concept then how should be focus on the strategy even they will not understand the concept of particular strategy.
    In essence they should not be all about the money that they can make, they should know that there will always be money in forex trading and all that. But they should take learning seriously, because that is the most important thing, when they have taken learning seriously, developed a good trading strategy, then they can become profitable. The beginners also should form the habit to get to develop simple trading method and never be all about just how much they can make daily.

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    Quote Originally Posted by naeem555 View Post
    strategy can be based on basic concept but the issue is some time we do not make our base strong, in simple trading most of time we use some greedy trade we try to earn more and more and in that hurry we just lose, so i think its wrong way, we can survive if we have patience, if we have management and proper analysis if we do not have these we cannot survive for long
    The only thing that helps traders survive is to take the action whenever market provides us the signals according to our strategy. Awaiting for further confirmations until we lose that opportunity is an act of less confident for traders, they must avoid that to happen. Beginners are fragile to market, easy to lose and hard to earn. Best for them to stick around in demo until they truly understand the risk of trading.

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