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New to Trading and Forex

  • #1
  • First Post: Nov 14, 2009 8:58am Nov 14, 2009 8:58am
I am just curious as to the number of successful forex traders who jumped straight into forex trading without any previous trading experience. I personally think its ok because I can trade the mini and micro lots until i get a feel for everything before risking big amounts of capital. Or would it be better to start off in share trading?
  • #2
  • Nov 14, 2009 11:54am Nov 14, 2009 11:54am
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.
  • #3
  • Nov 14, 2009 1:01pm Nov 14, 2009 1:01pm
I think you can start with Forex. That way you'll be learning to trade with the high leverage and an unbiased market with the currency fundamentals. Moving from stock trading to Forex will be somewhat painful.
  • #4
  • Nov 14, 2009 6:39pm Nov 14, 2009 6:39pm
did you guys start out in forex as well? i figure i'm eventually going to make the move here anyway so might as well just start here.
  • #5
  • Nov 15, 2009 2:46am Nov 15, 2009 2:46am
Quoting madetrader
did you guys start out in forex as well? i figure i'm eventually going to make the move here anyway so might as well just start here.
I started out in Forex and it wasn't difficult for me to get into stocks and commodities afterwards.
  • #6
  • Oct 15, 2020 5:57am Oct 15, 2020 5:57am
If you are new in this market, You need to have proper knowledge and experience about the market. Without any knowledge, you can not survive in this risky market.
  • #7
  • Oct 15, 2020 6:48am Oct 15, 2020 6:48am
yes i did and got my ass handed to me hahah
  • #8
  • Oct 15, 2020 6:21pm Oct 15, 2020 6:21pm
There is a lot to learn through hard work as a beginner trader. If you do not learn anything, you may face many unexpected losses. Forex is not an easy thing to make a profit if you want. You have to master trading by doing a lot of practice.
  • #9
  • Oct 16, 2020 12:54am Oct 16, 2020 12:54am
Forex market to good to trade on but start with demo account or small deposits before risking big amounts in a greed of huge profits.
  • #10
  • Oct 16, 2020 3:13am Oct 16, 2020 3:13am
Quoting CoraLombard
If you are new in this market, You need to have proper knowledge and experience about the market. Without any knowledge, you can not survive in this risky market.
Right. If you have knowledge then you will be able to develop a sound trading plan that will help you in trade execution.
  • #11
  • Oct 16, 2020 7:16am Oct 16, 2020 7:16am
Quoting Gracewilson
Forex market to good to trade on but start with demo account or small deposits before risking big amounts in a greed of huge profits.
Yeah but before doing live trading, one must acquire some knowledge and skills. Otherwise it would be no benefits. Most new traders start live trading just after few months Demo trading.
  • #12
  • Oct 16, 2020 8:58am Oct 16, 2020 8:58am
True. And sadly those people end up losing money, I've personally seen it happen.
  • #13
  • Oct 18, 2020 3:57pm Oct 18, 2020 3:57pm
If you want to invest in this risky market, you need to gather all kinds of knowledge first. Because without knowledge, you can not survive in this risky market.
  • #14
  • Oct 18, 2020 8:34pm Oct 18, 2020 8:34pm
If you are new in Forex trading and want to strat you need to learn the basics of forex first and should have good knowledge and skills.
  • #15
  • Oct 24, 2020 1:36pm Oct 24, 2020 1:36pm
If you are new in this market, you can create a demo account and practice more and more to make money.
  • #16
  • Oct 25, 2020 4:19am Oct 25, 2020 4:19am
demo is important , we all traders above all newcomers believe that ,
but i have seen the knowledge we get from demo not works when trading in a real account.
  • #17
  • Oct 25, 2020 1:19pm Oct 25, 2020 1:19pm
yes , its a real message but effective , lots of difference we see when trading in real.
  • #18
  • Nov 1, 2020 1:15am Nov 1, 2020 1:15am
Quoting MarkFxAnde
demo is important , we all traders above all newcomers believe that , but i have seen the knowledge we get from demo not works when trading in a real account.
Only emotion is different from demo trading. Trader hardly feel any emotion in demo trading due to virtual money.
  • #19
  • Nov 1, 2020 1:46am Nov 1, 2020 1:46am
Quoting Niels.Lar
{quote} Only emotion is different from demo trading. Trader hardly feel any emotion in demo trading due to virtual money.
Yes only emotions are different in demo. We also should use demo for different purpose as well. To test our strategy demo is the best place. We should not risk our money by testing the strategy directly into live account.
  • #20
  • Nov 1, 2020 7:26pm Nov 1, 2020 7:26pm
If someone is a new trader, he should do demo trading first. You should get an idea about money management and risk management by trading demo. If you invest big money as a new trader, you are more likely to lose. One should go into real trading by acquiring proper knowledge about trading.
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