Accept the possibility of losing your money as an inevitable fact. Every beginner trader should be aware that no one is safe from losses in the currency market. The basic rule of online currency trading is to keep the profit above the losses. Do not be afraid of the foreign exchange market. Many novice traders are afraid of uncertainty and risks of the foreign exchange market. Those who can overcome this are rewarded with a substantial increase in investments.
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Joined Mar 2013
|200 Posts
Stepping onto the Forex arena for the first time might feel a bit daunting. The Forex markets are for traders who are interested in the investment, not the big win. Study and analysis will prove a far better ally than long odds or luck. Before you start throwing your money into an account, practice with one or more of a variety of demo accounts. This the most critical of all forex tips for the new trader. Get good at analyzing and actual trading before you start plunking down your own funds.
Stepping onto the Forex arena for the first time might feel a bit daunting. The Forex markets are for traders who are interested in the investment, not the big win. Study and analysis will prove a far better ally than long odds or luck. Before you start throwing your money into an account, practice with one or more of a variety of demo accounts. This the most critical of all forex tips for the new trader. Get good at analyzing and actual trading before you start plunking down your own funds.
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I don’t support demo account for practicing even though you have appreciated this trading approach. Traders trade in demo at random without analysis; as a result they can’t acquire something. So it is more important to take live account for the newcomers instead of demo but of course with little amount.
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Joined Mar 2017
|205 Posts
LOL. Without demo trading Forex trading just valueless , but you ignored this .i admit we don’t like to continue it for a long time. but there is lot of importance of demo.
i would like to add that this 5% who win are Brokers and Largest Forex Market Makers..No retail trader is winning on a long-term basis ....yes please read carefully once again...YOU CANNOT MAKE MONEY ON FOREX if you are retail trader ...they will suck all your cash...it is fixed play like in a fixed casino ..if you play red they will fix it on black and vice versa...dont listen to gurus and guys telling you to go with the flow..big market players have allghoritams plugged in and they calculate how to screw everybody else and activate stop-losses ..so they fix the play..usually in very short time frame when you are not prepared for the surprise...please stay away from this market..those algoritam high frequency fixed play have screwed all us professionals traders and made our careers irrelevant..nobody is hiring forex traders anymore ...only for trading with clients in a win-win situation ....just risk managers, auditors and sales personnel are looked for..thanks to this innovation our profession is ridiculed....you cannot contribute when only few big players are fixing the market and screwing everyone else.and regulators are in a sleep mode....fx brokers are also profiting from pips they charge on each trade...PLEASE SAVE YOUR MONEY AND STAY AWAY...AND MORE IMPORTANTLY DONT WASTE YOUR PRECIOUS TIME LEARNING, WAKING UP EARLY TO JOIN AISAN MARKETS, HOPING, CHEATING TO YOUR FAMILY STORIES OF GETTING RICH FAST..I'VE LOST 3 AND A HALF YEARS...OF THOSE 1 AND A HALF YEARS ONLY LEARNING AND DEMO TRADING...LEARNING FROM SELF PROCKLAIMED GURUS..all they can teach you is how to PROTECT YOUR CASH AND NOT TO loose money FAST ...but you cannot make money there..algoritams are pluged all the time and positions are measured and at a certain moment BOOM ..THEY PRODUCE CONTRARY MOOVES THAT SCREW UP EVERYONE ELSE....i'm not sure whether this is legit , but they are smert, they invested in technology and they are above you in every situation....so you're in a casino ...so pls use my advise and save your money..i am really sorry to say this but Forex have become a SCAM
i would like to add that this 5% who win are Brokers and Largest Forex Market Makers..No retail trader is winning on a long-term basis ....yes please read carefully once again...YOU CANNOT MAKE MONEY ON FOREX if you are retail trader ...they will suck all your cash...it is fixed play like in a fixed casino ..if you play red they will fix it on black and vice versa...dont listen to gurus and guys telling you to go with the flow..big market players have allghoritams plugged in and they calculate how to screw everybody else and activate stop-losses...
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You're the scam. You just copy your opinion from thread to thread, convincing newcomer to stay away while the fact is you still don't know what are you doing with this bussiness.
LOL. Without demo trading Forex trading just valueless , but you ignored this .i admit we don’t like to continue it for a long time. but there is lot of importance of demo.
Ignored
Please don’t argument. If you acquired most powerful analyzing trade knowledge by demo trading , let me explain how ?
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Joined Mar 2017
|205 Posts
I was continued in demo as a newcomer with Pips school. That was really real combination. The experience I have acquired from pre school , always used in demo and got a maximal result. Every newcomer has to pass pre school level with demo trading. Otherwise he would fall a terrible situation when live trading.
The thread is nearly 1 year old, so can’t really say if it’s worthy to answer the first page question. Anyhow, for everyone else who might want answers, I think Baby Pips without guess work is the BEST place to learn in proper step via step method. Then, it’s obviously about demo and demo only. But, we are lucky that there are many brokers having no deposit bonuses or demo contests which are very handy options in learning purpose, as it gives extra motivation!
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Joined Mar 2013
|200 Posts
The main thing that hangs most traders out to dry is the capacity to utilize forex trading leverage. Utilizing Leverage enables traders to exchange available with more cash than what they have in their account. For instance, in the event that you were trading 2:1, you could utilize a $1,000 deposit, to control $2,000 of currency available. Numerous forex brokers offer as much as 50:1 leverage. In the event that you are new, at that point do this.
Hello Forex Factory members, I just started trading Forex about 2 months ago and the past 2 weeks I started trading seriously on a demo account. (Feel free to check out my results) And well I don't know where to start. I love math so I understand risk formulas. My Goals this week are : Learn how to use/make trend lines Learn Order blocks/Order Flows Learn about other people's simple strategies As of now I trade through a few EMA's and other indicators, It's looking good but I'll share my strategy when I have a little more confidence in it. If you...
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My advice: don't start trading/learning using indicators, this will lead you to years and years of frustration and slow but sure burning of your deposits, one after another.
The things one need to learn in the beginning is:
Mechanics of the Market
Why price moves, how price moves
'Smart money' maneoveres
Where can be stops of other players (Price moves thank's to their stops to)
Price action/Volumes
And 1000 other more important things than indicators
First and most important thing is to understand the Market in general.
Don't learn other people strategies, you will never make money in a long term.
95% of the traders start using various indicators and hide the price behind them, big mistake, and what else 95% does? Oh yes, loosing money, coincidence? I don't think so.
I am new here and am overwhelmed with all the posts on this site. So I gave I looking for now and picked this post in the hope that I am posting this request in the right place. If not .... my bad, and please accept my apologies.
Can someone please advice me where to look for a semi automatic EA, with the following characteristics, hopefully free:
Initial trigger: manual trade - Buy or sell so one can use according any system or trading plan.
Initial lot: Fixed value or % of capital
amount of PIPS or points either direction must travel any direction before (entered as a value), before 2nd condition triggers:
Second condition open a second trade: Again Buy or sell independent of first trade with a lot size as a percentage of the first lot or as a fixed value independent of the first lot value.
Again an amount of pips must travel from second position before the 3rd buy or sell order is opened. Again orders must be independent from previous conditions.
System EA must be able to open up to a maximum of 6 positions per manual trade. This to allow some different combinations like:
1st sell A amount Lot
2nd sell B amount Lot after x pips
3rd sell C amount Lot after y pips
4th buy D amount Lot after z pips
etc
Safety:
1) Maximum amount loss as a fixed value or as a capital percentage.
2) Auto break even plus variable amount of profit before break even is activated. This must be applicable only before 2nd position is activated and if hit to close the ea.
3 Trailing stop
P.S. System is based on both Martingale idea mixed with hedge element. But with the possibility to adjust each individual value separately to have complete freedom to adjust.
Safety condition with the option to be turned off as one see fits.
Thanks in advance for any help or information you can supply.
The main thing that hangs most traders out to dry is the capacity to utilize forex trading leverage. Utilizing Leverage enables traders to exchange available with more cash than what they have in their account. For instance, in the event that you were trading 2:1, you could utilize a $1,000 deposit, to control $2,000 of currency available. Numerous forex brokers offer as much as 50:1 leverage. In the event that you are new, at that point do this.
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I have seen most of our traders consider high leverage as a high risk , but I don’t consider it , if there is any risk , that means there is no money management plan with zero trading plan , nothing without it.
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Joined Apr 2018
|323 Posts
not agree at all. in spite of having most powerful analyzing trade risk management there is no chance to reduce risk completely when using high leverage, so its a wrong message you have done among us.
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Joined Mar 2017
|304 Posts
reducing risk from trading is not possible at all,
but trading can be profitable if there is good knowledge and experience,
we the traders can acquire real market principle by regular practice.
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Joined Apr 2018
|459 Posts
when you tired on manual trading , it is more appropriate to move on other option, i always focus on Paam services instead of manual trading. its a break just , nothing without it.
reducing risk from trading is not possible at all, but trading can be profitable if there is good knowledge and experience, we the traders can acquire real market principle by regular practice.
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Risk management is a big part of any decent trading plan, so I wouldn't say that reducing risk is impossible.
Risk management is one of the most important skills that a trader must possess and make perfect. Managing risks is very possible, and you must never risk more than 5%, in fact, 2% is okay for new traders. To manage your finances, always use a stop loss when trading and do not overtrade the market
