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New to Trading and Forex

  • #61
  • Dec 16, 2021 11:02pm Dec 16, 2021 11:02pm
Quoting louiseking
We have all been in that place. Your success depends on the effort you put into your trading career. When you read about forex trading, you may think that it’s an easy way of making money but in reality, it’s not. Just ensure that you know the real thing so that you don’t set any unrealistic expectations.
its a good word "unrealistic" trading target. generally when a trader make decision by emotions and greed we traders consider this situation as unrealistic target which could not be implement in practical at all.
  • #62
  • Jan 10, 2022 5:07am Jan 10, 2022 5:07am
Trading the micro lots until you get confident about your learning is a good way to approach forex trading. I don’t think anyone needs to move on to trading other assets for practice. In fact, forex is a low barrier market where you don’t need a big initial deposit or huge amount to start with. Due to higher volume, the trading costs are also much lower which makes it suitable for everyone.
  • #63
  • Jan 10, 2022 5:10am Jan 10, 2022 5:10am
Self-confidence and caution go hand in hand in this difficult endeavor.
  • #64
  • Jan 13, 2022 1:38am Jan 13, 2022 1:38am
As a beginner, you should know that you should trade with a demo account until you get the hang of it. Patience, self-discipline, and the ability to manage emotions are crucial elements that all beginners should learn. Learning the basics and practising on a demo account will help a beginner to gain practical experience and knowledge, which will give a great advantage in the future.
  • #65
  • Feb 11, 2022 2:50am Feb 11, 2022 2:50am
Hey Guys - Not New But Not Old Either


- I have been programming Metatrader 4 expert advisors using a drag and drop builder and I have a strategy that I can't get to work in live market conditions.

- Is a 2 pip spread including commission too much to ask on a EUR USD or an AUD USD pair?

- I have a long strategy, a short strategy, and a hedge strategy that all work using different logic on a 2 pip market back test but not on live market conditions.



(Any way to salvage this work or am I SOL?)


I'd use a retail solution but I'm just addicted to the sense of accomplishment I get from programming these junk bots.
  • #66
  • Feb 15, 2022 4:25am Feb 15, 2022 4:25am
Quoting JackBob
I started using forex demo trading, and I kept learning and summarizing my experience and skills in the demo, and now I am still trying to learn real trading with a micro account, hoping to succeed
after a long time found someone who gathered experienced by demo . sounds good . keep continue
  • #67
  • Feb 15, 2022 4:54am Feb 15, 2022 4:54am
Quoting TJPLD
Why should stock trading be any different? Buy low sell high. Same concept. Just take care that you don't lose your ass with overleveraged positions.
I am new too. kindly share some new tricks on bitcoin
  • #68
  • Feb 16, 2022 2:25am Feb 16, 2022 2:25am
its really a friendly community we have in online . feel free to ask any question you need to know , i hope you will enjoy the friendly environment with great level of learning something new. happy trading
  • #69
  • Mar 4, 2022 12:33am Mar 4, 2022 12:33am
Those who are new to trading should try first to understand the market situation and nature. They shouldn’t go for live account trading leaving behind demo accounts for trading. They cannot feel how important demo trading is for them in enhancing trading skill and knowledge.
  • #70
  • Mar 7, 2022 1:41am Mar 7, 2022 1:41am
as for beginners level that is not perfect to trade in a real account , agree , but what next ? the result of demo account with experience is just 0 . so i think if any beginner can effort the real account for practice level , of course should go for it.
  • #71
  • Mar 9, 2022 5:14am Mar 9, 2022 5:14am
I think it has already been said here, I apologize if I missed it, but the most important thing for a beginner is to understand the mechanics, a demo account is great for this. In combination with reading, these 2 components work wonders.
  • #72
  • Mar 9, 2022 6:02am Mar 9, 2022 6:02am
okay ,. stay Cool
  • #73
  • Mar 10, 2022 5:36am Mar 10, 2022 5:36am
the Newcomers should focus on first of all psychology of school which contains all basic knowledge and experience , besides this its more appropriate to trade in a practice account by demo or micro. this is perfect combination for acquiring real basic about trading
  • #74
  • Jan 24, 2023 12:43pm Jan 24, 2023 12:43pm
All beginners should switch to a demo account and try to earn more often than lose money.
When you understand what strategy works for you, move on to a real account.
  • #75
  • Jan 24, 2023 2:08pm Jan 24, 2023 2:08pm
It is the first time you open a forex account, there are the steps I followed:

  1. just make sure you use stop loss/take profit of any trade.
  2. if you see your trade on a good profit, set up a trailing stop loss, if the market is going back, at least you end up with a profit
  3. Don't try to recover losses from an emotional point, you will just end up like I did lose more than half of your trading account
  4. Set up in your agenda important reports release, like Non-Farm Payrolls, Consumer Price Index, or any event where Jerome Powell (current Chair of Federal Reserve) or FOMC has a meeting.

This is not the holy grail, but at least you will know what moves the market and keep an eye on how you should react.

  • #76
  • Jan 25, 2023 12:34am Jan 25, 2023 12:34am
My simple and brief advice to someone new to trading and forex is to first educate yourself on the fundamentals of the market as well as the methods employed by successful traders.
This can be accomplished by conducting research, reading books and articles, and enrolling in online classes.
It is also critical to practice on a demo account before putting your money at risk.
Diversifying your investments is also a good idea rather than placing all of your eggs in one basket.
Finally, always have and follow a risk management plan.
  • #77
  • Jan 25, 2023 2:55am Jan 25, 2023 2:55am
It's also important to keep up to date with news and economic events that can affect the market, as well as technical analysis to help you make informed trading decisions.
Hello.
  • #78
  • Jan 25, 2023 6:05am Jan 25, 2023 6:05am
Quoting fxinvestindo
My simple and brief advice to someone new to trading and forex is to first educate yourself on the fundamentals of the market as well as the methods employed by successful traders. This can be accomplished by conducting research, reading books and articles, and enrolling in online classes. It is also critical to practice on a demo account before putting your money at risk. Diversifying your investments is also a good idea rather than placing all of your eggs in one basket. Finally, always have and follow a risk management plan.
True, in the end I think that I am speaking on behalf of every forex trader, this knowledge doesn't come in one single day. Be patient with yourself and always ask for an opinion.
  • #79
  • Jan 26, 2023 12:45am Jan 26, 2023 12:45am
Quoting Andr3w
{quote} True, in the end I think that I am speaking on behalf of every forex trader, this knowledge doesn't come in one single day. Be patient with yourself and always ask for an opinion.
Yep, I agree. This is one of my favorite quotes.
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  • #80
  • Jan 27, 2023 4:11am Jan 27, 2023 4:11am
I also started from demo accounts years ago. It is a must before you go live with what works best for your trading style..
Trade what you see not what you think!
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