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Attachments: Information For Beginners
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Information For Beginners

Quoting Sublevel
Hello everyone, I am new to the forums and looking for some advice! I have recently opened a live account after a little time using demos and turning a profit. I want to now practice live to get the feel of things and to iron out my system in a real environment. I have read through many posts on the forum and am well aware I should not expect high profits from this and take it as a learning experience. My risk/money management for each trade I am comfortable with but I am needing advice on if there is a way to insure/protect myself from losing more...
I recommend that you choose a broker whose terms and conditions include a Negative Balance Protection clause.So you will not lose more money than your deposit and your account will be brought to a zero balance if it goes into negative.
It's wonderdful how it's 2016 and this thread is so helpful still! Thank yoU!
Quoting a.miller
{quote} I recommend that you choose a broker whose terms and conditions include a Negative Balance Protection clause.So you will not lose more money than your deposit and your account will be brought to a zero balance if it goes into negative.
I'm afraid negative balance protection is not actually possible on REAL ECN accounts because all your trades actually go to the market and in case of slippage it you may get into the red zone.
Quoting MarketINC
{quote} I'm afraid negative balance protection is not actually possible on REAL ECN accounts because all your trades actually go to the market and in case of slippage it you may get into the red zone.
I really can't understand how brokers (which basically retranslate your orders to the banks) can protect you from drawdowns in case of drained liquidity when your position can not be liquidated. Will they pay for you to LP's from their own pocket?
Or its just a market ploy?
Quoting leebsurag
{quote} I really can't understand how brokers (which basically retranslate your orders to the banks) can protect you from drawdowns in case of drained liquidity when your position can not be liquidated. Will they pay for you to LP's from their own pocket? Or its just a market ploy?
Well this question you ask really does not need an answer, dear. Because brokers cannot do it (i.e protect) - you have explained it perfectly
Dial,

Thnx for this thread. I'd like to know one day how much money you saved traders with this thread...

Lee
Fix your thoughts on what is true, and honorable, and right, and pure...
the beginners in forex would be better to continue to try in practice, because by not being able to have the knowledge that the maximum can be achieved in the run, and get in and improve the tradig it well we can be a way to do learn in a demo account, demo account convinced get better skill capabilities will be more focused
Quoting Albertfxx
Beginners need to be aware that shouldn't be trading real money until they have at least 30 to 60 profitable paper trades under their belts in real time in real market conditions before risking real money.
Cent accounts are possibility as well. Many people cannot really "feel" the market when using Demo account.
Quoting Quushey
{quote} Cent accounts are possibility as well. Many people cannot really "feel" the market when using Demo account.
Practice using a demo account trading facility such as that provided by the broker must seriously we can do in order to quickly provide benefits to increased trading capabilities that we have, success can be achieved by being able to have maximum knowledge and ability as well as the experience that much
Quoting Quushey
{quote} Cent accounts are possibility as well. Many people cannot really "feel" the market when using Demo account.
True, some things a person can learn only on a live account, even if it’s a cent account. That said, it’s still a good idea to spend some time trading one a demo one.
Quoting mlawson71
{quote} True, some things a person can learn only on a live account, even if its a cent account. That said, its still a good idea to spend some time trading one a demo one.
in trying to jump on a real account can be a way to use a small capital, with a small capital will be able to train mentally and also better in the experience. and our broker instaforex using capital with a minimum deposit of $ 1 in a standard account instaforex
Beginners should continue to learning in Forex trading to gain knowledge and skills for their work. There are so many trips and tricks are there for any newbie, but self learning is best.
Quoting Butterscotch
Beginners should continue to learning in Forex trading to gain knowledge and skills for their work. There are so many trips and tricks are there for any newbie, but self learning is best.
A well-meaning, knowledgeable and experienced mentor can also be of great help. I do agree, however, that ultimately it all depends on the individual trader to learn how to trade.
Information for beginners.

Quit Trading (Gambling) and go Work.

Nuff Said.
The Black Swan: The Impact of the Highly Improbable
Why to depend on mentor for learning, in my opinion self learning is best way to get the real idea about market.
Quoting Nleu
Great information, but I still have a question. When I open a trade on my mt4 platform I always see a 5-6 pips differents from the openings price. So this means that every time I have to wait for 5-6 pips before I get some profits. Is this normal or am I doing something wrong with my settings?
When you buy, you buy at the bid price. When you sell, you sell at the Ask price. The space between is called the spread. The price the candle indicates is always the sell price. That's why when you buy it's always above where the candle is indicating price is at. 5-6 pips is quite a lot though. Perhaps you mean 0.5-0.6 pips. Either that or your broker is horrible.
the beginners in forex trading business should know in advance the risks that our enthusiasm in learning. With big risk is definitely in profits will be huge too. And it can be done in learning utilizing a demo account with a step demo steps to success in forex trading
Security of your trading capital should be the foremost consideration; the profit will come in after you have mastered an efficient trading system and you trade in a disciplined and patient manner. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
Quoting KoiFish
{quote} When you buy, you buy at the bid price. When you sell, you sell at the Ask price. The space between is called the spread. The price the candle indicates is always the sell price. That's why when you buy it's always above where the candle is indicating price is at. 5-6 pips is quite a lot though. Perhaps you mean 0.5-0.6 pips. Either that or your broker is horrible.
Don’t some instruments have larger spreads? Nleu, what exactly are you trading, if you don't mind my asking? Because 5-6 pips spread really is quite a lot.
Just had a look at NZDJPY on my broker, it's about 4 pips. I think it's because they are not major currencies 
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