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New to forex Tips and Advice

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  • First Post: Edited 11:16am Sep 1, 2006 11:03am | Edited 11:16am
Hey i'm new to Forex i like to trade on Crude Oil mostly and Gold i'm praticing on a demo account on GCI at the moment i started yesterday here is my results tell now
If any pros have any tips and advice to help me please post thanks for your help
Hi Mark,

Could you be more specific in your questions?

Also, Please post images only 600 X 600. The large image makes the Forum difficult to read. Thanks Scott ( Forum Moderator)
Quoting smjones
Hi Mark,

Could you be more specific in your questions?

Also, Please post images only 600 X 600. The large image makes the Forum difficult to read. Thanks Scott ( Forum Moderator)

Well i'm not sure where to start i try out a Demo account i wonder if someone who more experienced could see if i have luck or skill i seam to be winning alot i think it's luck .
I wonder what stop loss to use maybe 30 pips ?? i'm not sure and how long should you trade demo before going live ??

I repost smaller image sorry for that

http://img364.imageshack.us/img364/4719/forexvv3.th.jpg
advice - if you must trade, stick to oil and gold. Futures is superior to forex - regulated exchanges versus unregulated over-the-counter nature of forex.
new in-trade was the first one we did in learning, and understand the risks to control, with the forex business is very risky, so try to always be run trading well by learning to better understand the workings of the correct trading and more can benefit obtained
11 year old thread, cool
Learn, a forex trader must, unlearn and relearn he will.
Quoting COGSx86
11 year old thread, cool
Hopefully the man's not a newbie anymore.
Earning is Forex is not easy at all. There is too many who loses money simply because they take it lightly. They think knowing minimum knowledge about Forex is good to kick off trading right away. They think they can earn good amount of money in here. But one thing I want to say in order to my trading experience , in Forex trading you like digging a hole, the deeper you dig the more chance its can turn into a well and get water.
In this volatile and risky trading place the traders who are particularly newcomers first of all have to know how to manage risk. Newcomers can minimize loss by set good risk management plan. To set it, first they should know the winning probability of their trading system or strategy and second, know how much loss accepted by their capital. By strict with risk management plan, newcomer will not suffer huge loss even though the market may be goes wild and beyond the trader analysis.
As a newcomer, first thing you need to do is to common in Forex trading and that means you need to have lots of extra time not only in trading but in learning also. And the most important thing is that you need to spend lots of time practicing and not going to make profit or don’t expect to get profit in the first two months. But practically mostly newcomers don’t believe the importance of demo account and try to make money very rapidly without learning.
in running the new trading will be as good as it should be run trading well, for it is easier to gain the ones we expect we should be able to run a maximum of trading as well in a demo account or demo contest
Quoting JamesFaulkn
As a newcomer, first thing you need to do is to common in Forex trading and that means you need to have lots of extra time not only in trading but in learning also. And the most important thing is that you need to spend lots of time practicing and not going to make profit or dont expect to get profit in the first two months. But practically mostly newcomers dont believe the importance of demo account and try to make money very rapidly without learning.
He made the post back in 2006, he's not a newcomer anymore. That said, I agree with the advice you've given, it applies to all newbies.
I'm new , currently, I'm learning about EURUSD . So far on Demo account, i Always make a good profit, so this week i decided to try on real account, unfortunately the result is bad. Hoping someone can give me tips
Im shy.
Quoting indahmaimuna
I'm new , currently, I'm learning about EURUSD . So far on Demo account, i Always make a good profit, so this week i decided to try on real account, unfortunately the result is bad. Hoping someone can give me tips
My advice is to go back to the demo account and trade the exact same way you would trade on the live account. Same lot, same leverage, same initial sum, etc.etc. Make a trading plan and follow it.
There are so many opinions about Forex Trading they can't be counted. Your personality plays a big role in how you trade and no two personalities are alike. I think the best thing to do is get a basic knowledge of the market in general. Then search for one or two traders who are similar to your personality and spend time learning from them. Forget about all the trading systems for now but focus on you, your personality your background and how it all relates to how you think about money.

Most Traders are willing to help. Just be careful how much time you require of them.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
Learn, practice, try your luck in a mini account. These are the very basic steps as newbie must follow. When you try real work, you will learn also that it is not easy to handle live account. So keep learning.
Quoting Butterscotch
Learn, practice, try your luck in a mini account. These are the very basic steps as newbie must follow. When you try real work, you will learn also that it is not easy to handle live account. So keep learning.
absolutely right, we must continue to conduct training in order to improve trading skills that we have. therefore, we can use a demo account or a demo contest in instaforex to the maximum in order to have the ability trading improved, and we can run profits would be trading well by bringing in success
Wondering if someone can answer my question

SO am looking at this Austria 20 (ATX) and noticed something
every time the market opens 8am uk time the market surges up a good few pips

its been doing this for weeks
so i woke up today to catch it the bull run
not really that much of a trader just like to check up on the markets every now and again see whats what

anyway i log in to plus 500 wait for the market to open
when ATX opens at 8am i go to take the trade
it opens at 2.720 i go to buy but plus500 will only open me at 2.780 ???

anyway the market goes up to 2.720 within 2 minutes of opening
why is it that i couldnt take the trade when it first opened at 2.720 ??
Quoting Butterscotch
Learn, practice, try your luck in a mini account. These are the very basic steps as newbie must follow. When you try real work, you will learn also that it is not easy to handle live account. So keep learning.
I agree. One shouldn't invest a large amount of money into forex as they first start trading on a live account, it will just add to the stress they're already experiencing.
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