My tips for all forex beginners
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Thread: My tips for all forex beginners

  1. #1

    My tips for all forex beginners

    Hello guys

    I have dealt since 2011 and I want to discuss with you these useful guidelines :


    * Before coming into the currency trading globe you have to ask yourself : does currency trading fit me ?
    * Before beginning the dealing exercise with a trial account
    * try to understand and understand techniques and try them
    * be cautious of the cash management
    * be tight with your dealing system
    * keep out your emotions
    * do not hurry to achieve 1 thousand $
    * at the end of each 30 days reinvest the 50 percent and take out the second 50 percent

  2. #2
    These tips are useful, especially we are advised not to be too hasty pursuit of big profits in forex trading. we had better look for profits in accordance with our trading style, our capital, our margin strength, and analytical skills that we use.

  3. #3
    I only want to say to the new Forex traders that a trader should always first start trading in demo accounts and practice and gain experience til you have knowledge about it.Make your own strategy or trading plan.Reduce your emotions while trading in Forex.Understand the Forex market and the techniques and indicators after that use it in your strategies.

  4. #4
    Trader
    Join Date
    Mar 2013
    Location
    Am fuly awear of the difficulties of life,so ill try to bounce back
    Posts
    1,166
    After reading your post I'll have to admit that those are words are from an experienced trader, and with the steps you've just stated I'll just say you said most of the valuable lessons for those who would listen,its important that traders bear in mind that forex trading is a professional business so you have to be prepared before you invest your funds.

  5. #5
    MUNAPROPIPS, i think like you if practice in demo account is the first step that beginner do , i think it is very important because in demo account we can test for any indicator , with that by understanding the indicators that we used we can do the analysis properly.

  6. #6
    Those are very needful tips for new traders. I want to add some more points like new traders always should not sit infront of trading terminal because it will provocative them to place order or to create new position.
    So new traders always avoid big trading and frequent trading.
    Always trade with small quantity if you want to trade big quantity like 1,00,000 quantity it is advised to trade with 10,000 * 10 lot so that you can book partial profit or can book partial stop loss.

  7. #7
    Trader
    Join Date
    Sep 2013
    Location
    Kolkata
    Posts
    357
    Great my friend! I think this tips can help any trader to build up their confidence. In Forex , I think a trader must have to keep emotions while trading and need patience to hit the TAKE PROFIT or to full fill the trade. We close our winning trading with in short time and we keep our losing trade to wait to rebound. that is not a good idea.

  8. #8
    Great my friend! I think this tips can help any of my respected friend to trader and to build up their confidence in online forex trading business. In Forex , I think a trader must have to keep emotions while trading and need patience to make PROFIT or to full fill the trade. We close our winning trading with in short time and we keep our losing trade to wait to rebound.

  9. #9
    Your post is indeed very detailed and helpful for the new as well as old traders. It is really very important to decide on the currency pair and it suitability with the trader's choice, practice enough in DEMO account and control emotions at the same time to generate more and more profit.

  10. #10
    I think all beginner should start with practicing in demo account,demo account will help you to learn and gain knowledge about the Forex market.You should must learn to control your greed and emotion which is very important in Forex trading business.You should try to develop your planing and strategies if you want to become a successful trader.

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