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"Beginner" really need advice 49 replies

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Attachments: No One Should Ever Pay For A Beginner Course
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No One Should Ever Pay For A Beginner Course

Quoting xdrgnh
I came here to ask a question about percent of margin. I'm a rookie trader with a 60,000 dollar account. However I only invest at max 25 perfect of that in total for positions.
meaning if you have only 1 position open you going for a 15000$ risk ?
and you made only 8000 so far ?

your Risk Reward ratio is seriously off then .. and your 60k will be out the window in basically no time !!! (i'm serious)
So investing 25 percent of your margin in total is generally considered reckless?
Quoting xdrgnh
So investing 25 percent of your margin in total is generally considered reckless?
actually no, that is very much depending on your strategy.

using the margin as a measurement is generally a good idea.

however 4 losers will wipe you out (well almost, as the margin is getting smaller every time you in a loosing position, so technically you can't go broke)
but in reality it will end up in the same
You still need to pay in losses that will teach you. Not much better teacher than that
All posts are my personal opinion
That is a rather cynical way of putting it, but also a realistic view as well. The important part is to actually be able to pause and self-reflect on your mistakes and learn from your losses, rather than repeat that same error over and over again, losing even more money.
it really boils down on what type of trading that you wish to begin?
my first tutor is babypips.com
It provide all the necessary info for the beginner.
Yup, it is really times to read but you can zoom to the topic that you wish to further persuade.
even now, I sometimes need to refer it
Let Market Tell You
Quoting gabanda
You still need to pay in losses that will teach you. Not much better teacher than that All posts are my personal opinion
True story!!
True but i guess we can avoid such losses by learning trading tactics by practicing demo accounts and moreover there are many resources available online that ensure 100% free learning, brokers are on the top of such contributing partners like i have noticed many educational monthly webinars offered by hotforex which are almost free of any costs.
For sure, but as many of traders experience, the demo and live trading is not quite the same. You never treat demo account like it is real money trading. And I agree that you don't need to pay for any learning to third parties. There are a lot of online articles that help with learning how to trade and live webinars are really helpful. However, you cannot learn how to trade until you lose a fair chunk. Don't expect that all of your trades will be profitable.
Quoting MACKdeep
I visited free brokers courses)
This is one of the best ideas to get started, In addition to school of pipsology I combined free courses provided by my broker and another broker ,demo for almost a year and it was worth the while
Agree 100% with the thread title. Heaps of good learning resources out there - don't pay for it. Just focus on the basics.
Sometimes the basics aren't enough to trade well. That said, there are plenty of free or at least cheap resources for the more advanced knowledge too.
or probably search on the youtube..
got some interesting 'fx guru' showing lesson
Let Market Tell You
Quoting mlawson71
Sometimes the basics aren't enough to trade well. That said, there are plenty of free or at least cheap resources for the more advanced knowledge too.
Forex basic can not make us do trading well, therefore we need to develop trading skills that we have from the bottom up to be a professional.
Quoting gabanda
{quote} Forex basic can not make us do trading well, therefore we need to develop trading skills that we have from the bottom up to be a professional.
And we can fully utilise the demo account.
Let Market Tell You
Paying for training courses is the most foolish thing. To get educated, you can attend, study a ton of webinars and forums.
Quoting Tier
Paying for training courses is the most foolish thing. To get educated, you can attend, study a ton of webinars and forums.
You have a good point. Paying for somebody to provide the service so that we can cut short our time to learn.
Let Market Tell You
Indeed, to be able to master the forex trading we have to sacrifice, either to sacrifice time, energy, thought and money. it is comparable with the later will we get if we do the right sacrifices.
Taking paid course for training is depends on person's choice. Not every person can learn by self, so they need a mentor to learn well. We all know that self learning is best in this business but people do not how to start and where to start that is why they take paid course.
There are plenty of free video tutorials and lessons though. A paid mentor is generally a last resort.
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