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Any Advice for a Beginner?

  • #122
  • Jun 16, 2022 11:13am Jun 16, 2022 11:13am
Quoting razoredge22
Focus on the process, not the outcome. If you have trading strategies that suite you, practice and master it. Unless its really not working for you then look for another trade strategies. Simple the better. Most important is how you manage your risk reward ratio. End of the day you need to make net profit from all the trade you have taken. Another tips is trade with capital you willing to lose so you wont have any worry trading with it ( would take a while and experience to have this kind of emotion when trading ). Never give up and all the best...
Agree. Whenever I reduce the position size, I stop checking the screen every single min.
memento mori
  • #123
  • Dec 20, 2022 4:42am Dec 20, 2022 4:42am
I think beginners should always focus on learning and upgrading their skills in trading because that is really crucial for growth.
  • #124
  • Apr 26, 2023 9:59pm Apr 26, 2023 9:59pm
Quoting stx5
Hey, I've seen great advice given on here and thought I should inquire about my own issues. how do we use the news to correlate with our trading??
My advice is not to trade news. Look at Forex Calendar and avoid medium to high impact period.
  • #125
  • May 22, 2023 10:09pm May 22, 2023 10:09pm
Quoting Dzire
{quote} My advice is not to trade news. Look at Forex Calendar and avoid medium to high impact period.
Can you please explain more? Why is that? I just want to learn from others.
  • #126
  • Jun 1, 2023 1:00pm Jun 1, 2023 1:00pm
I'm already translating. You have something like a calendar of economic events. On days and times you know in advance, you have the publication of economic data, e.g. GDP, employment, interest rates. At the time of data release, there is often an unforeseen direction of price movement for novices. Before publication, there is often stagnation in the market. In practice, this means a disruption of the entire strategy used and often losses and stress. In the calendar you have the level of importance of events, you will quickly learn which are the most important.

for example :
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  • #127
  • Jun 2, 2023 1:53am Jun 2, 2023 1:53am
Aside from the obvious - education and practise, you'll need to understand and accept (1) you can never truly predict the movement of prices at any time (regardless of analysis): (2) all price analyses are built on the assumption that the past predicts the future; (3) you will have losing trades and at times sequences of them ; (4) trading is a zero-sum game where someone loses when someone else wins; (5) the few successful traders will be much more experienced than you; and (6) most new traders fail to make any consistent profits. Basically the game will be stacked against you. If you are not convinced read about the actions of the major players (banks, market makers) scooping up trades of the unsuspecting retail traders. So follow the the usual risk warnings.
  • #128
  • Jun 9, 2023 3:03am Jun 9, 2023 3:03am
Hello, i dont know how i post new tread.
So I will post a question here.
I dotn know ho to trade, so i try small scalping.
The idea i had was: i open prime account on roboforex with low spread.
I trade de40cash or what ewer, make a few cents profit.
With other account i deposit 10 time more money and set ratio 10 copy my self with the prime account.
So , when i make 2 cents plus with a trade, on a copy account should have 2 euros plus, but in reality it was a minus.
Why?
I will post screenshots. First is copy account, second is trading account.
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #129
  • Jun 10, 2023 2:02pm Jun 10, 2023 2:02pm
Quoting sam0201
Hello, i dont know how i post new tread. So I will post a question here. I dotn know ho to trade, so i try small scalping. The idea i had was: i open prime account on roboforex with low spread. I trade de40cash or what ewer, make a few cents profit. With other account i deposit 10 time more money and set ratio 10 copy my self with the prime account. So , when i make 2 cents plus with a trade, on a copy account should have 2 euros plus, but in reality it was a minus. Why? I will post screenshots....
Hello,

Copy trading does not mean that you will get the same price on all copied accounts. When you open a position on a trading account, that position is copied to other accounts. Due to the fact that there is a delay on copying accounts and spread differences, the results will differ on all the accounts. If you are scalping, the difference in price affects the results pretty much. Look at the spread on these accounts. On a trading account, your spread 4 points, on a copy account spread is 21 points. Let's take a look at your last trade. You press the sell button on your trading account, trade executes at 1960.46, your copy account receives the sell signal and opens a sell position, but the spread is higher on the copy account and your sell executes at 1960.34. Same when you close the trade. On your trading account you close this position at 1960.27. Let's do the math, when you took that sell position, the price was 1960.46/1960.50 (bid/ask), when you closed this position, the price probably was 1960.23/1960.27. The price moved ~23 points. With a 4 points spread that's a profitable trade. But on your copy account the spread is 21 points. So your sell executed at 1960.34, and closed at 1960.35. And that's a loss.
Why not trade with just one account?
  • #130
  • Jun 14, 2023 4:30pm Jun 14, 2023 4:30pm
Don’t be afraid to lose. If you are afraid of losing this particular amount, then decrease it and get back to trading. But you should work actively with this amount keeping in mind that you can still lose it. You can’t all the twists of the market. It’s impossible, but you can learn and get used to typical patterns and traps of the market. They happen from time to time. If you timely notice it and take advantage of it, it will bring you a good profit. To learn to spot good moments, you need to have enough practice and unfortunately losses are inevitable, even the entire depos.
  • #131
  • Jun 19, 2023 7:30am Jun 19, 2023 7:30am
Quoting Guran
Don’t be afraid to lose. If you are afraid of losing this particular amount, then decrease it and get back to trading. But you should work actively with this amount keeping in mind that you can still lose it. You can’t all the twists of the market. It’s impossible, but you can learn and get used to typical patterns and traps of the market. They happen from time to time. If you timely notice it and take advantage of it, it will bring you a good profit. To learn to spot good moments, you need to have enough practice and unfortunately losses are inevitable,...
Trading with a plan which includes rules on where you cut loss or take profit helps to avoid emotional pain from bad trades. Trading plans removes hopes from trading which is essential as decisions driven by emotions are usually suboptimal.
  • #132
  • Jun 19, 2023 9:20am Jun 19, 2023 9:20am
Hi Everyone

Can someone help me with this.?

So the position ID was 52857570. GOLD Opened at 09.47.31..
my take profit was set at 1963.10, The 10.00 o'clock candle reached a low of 1962.95.
im sure my Take profit should have been triggered.
Please see screen shot and give me your opinion ..
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  • #133
  • Jun 19, 2023 12:30pm Jun 19, 2023 12:30pm
Quoting nivek396
Hi Everyone Can someone help me with this.? So the position ID was 52857570. GOLD Opened at 09.47.31.. my take profit was set at 1963.10, The 10.00 o'clock candle reached a low of 1962.95. im sure my Take profit should have been triggered. Please see screen shot and give me your opinion .. {image}
Hello,
Open, High, Low, Close showing data for the Bid price. You had a sell position, your take profit was at 1963.10. To close your position you need to buy from the market at the Ask price. The spread on the picture is 29 pips. The 10.00 o'clock candle reached a low of 1962.95, thats a Bid price. Add 29 pips spread and you'll have 1963.24 Ask price. The price did not reach your take profit.
Take care.
  • #134
  • Jun 20, 2023 3:54am Jun 20, 2023 3:54am
Thanks for your reply.

But what i don't understand is why later in the day my Take Profit was triggered at the right price ?.

Thanks in advance for any reply.
  • #135
  • Jun 20, 2023 5:31am Jun 20, 2023 5:31am
Later in the day gold went down, reached your Take profit, and the position was closed.
  • #136
  • Jun 24, 2023 2:41pm Jun 24, 2023 2:41pm
The most important aspect in trading is practice and adhering to your strategy. It is crucial to consistently apply and refine your trading skills through real-world experience. By practicing regularly, you develop a deeper understanding of the markets, enhance your decision-making abilities, and become more confident in executing trades. Additionally, sticking to your trading strategy ensures consistency and discipline, helping you avoid impulsive or emotional decisions that can lead to poor outcomes. Remember, practice and strategy go hand in hand to improve your trading performance.
  • #137
  • Jun 26, 2023 11:09am Jun 26, 2023 11:09am
Don't rush, learn on demo accounts and start with small amounts. Test strategies on a demo account. Also, don't think that you know everything and understand everything.
  • #138
  • Jul 2, 2023 12:13pm Jul 2, 2023 12:13pm
Hi there is this question that have been bothering me.
I am very curious to know how many pips on average people profit/loss per day, or how many trades does people take daily? What are they looking at or how do they come up with a strategy that is consistent for themselves? I have been bothered with this question until i stumbled upon this website, just hoping to see if there is any kind souls willing to help me with my questions. I have burst one account and gave up multiple times.
  • #139
  • Jul 16, 2023 4:20am Jul 16, 2023 4:20am
Keep practicing.
Trading is gambling. So gamble responsibly.
  • #140
  • Jul 16, 2023 6:23am Jul 16, 2023 6:23am
If you are a beginner. Then find an experienced trader who can share some of the knowledge. In this global game, the minority wins. It's like a sport.
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