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New To Forex and Need Advice!

  • #61
  • Dec 23, 2016 5:30am Dec 23, 2016 5:30am
in forex trading business which started we could do a demo account as we must do. Brilliant way in forex trading by bringing the successful course with science have maximum
  • #62
  • Jan 11, 2017 1:29am Jan 11, 2017 1:29am
Most of the people who think or interested in forex trading perceive success in forex trading entirely depends on system or trading strategy. But it is not always like that. In fact the foundation upon which the trading success depends is the mindset and psychology- the way they think and feel the market and the strategies they adopt in the process. People attempting gain money in short period normally bombarded by unrealistic expectations like turning $1,000 into $100,000 in a few months. More drastically their mindset and brain move emotionally rather than rationally causing easy loss of money. Thus to say even if the strategies and practices are important , your managing your emotion and rational attitude for trade is equally important for forex success. These two are also important for your future success.
  • #63
  • Mar 16, 2017 4:10pm Mar 16, 2017 4:10pm
The traders who are Newcomers first of all have to move in MT4 for acquiring basic information about this market place and after this it is better to trade in demo account, but mostly newcomers kick off their Forex trading with a desultory way , for that reason by and large are loser from here. I think for successful trading life with certainly first of all we have to ensure the best place for congregation most powerful analyzing trade knowledge.
  • #64
  • Mar 21, 2017 11:57am Mar 21, 2017 11:57am
Demo trading is really effective for the traders especially for the beginners, but the beginners lost interest in demo account after passing sometimes. So I think instead of demo trading it would be better to practice a live account with a small balance.
  • #65
  • Mar 23, 2017 3:55am Mar 23, 2017 3:55am
Not only for the newcomers but also effective demo trading for the senior trader , in my trading career after passing a long time I still depend on demo trading , actually before live trading first of all I use all my trading techniques in my demo account to see the performance how it works. this trading approach always helps me for avoiding risk with certainly.
  • #66
  • Mar 23, 2017 8:25am Mar 23, 2017 8:25am
That's a good point. Demo accounts are useful for testing purposes at least, even if one is no longer a newbie making their first steps into trading.
  • #67
  • Mar 23, 2017 10:10am Mar 23, 2017 10:10am
Hello, I wish to know how to back test charts. In strategy tester we can not refer or check more than 1 timeframe.
  • #68
  • Mar 23, 2017 12:18pm Mar 23, 2017 12:18pm
There are two basic ways to approach the analysis of the FOREX markets: Technical analysis and Fundamental Analysis. Someone who is using a fundamental analytical approach will look at the current economic climate, political events, a variety of economic indicators, and so on to try to predict currency moves. What we will examine is technical analysis, or the use of historical price patterns in economic data to predict future moves in the FOREX.
  • #69
  • Mar 28, 2017 2:37pm Mar 28, 2017 2:37pm
In Forex market place by and large traders especially the newcomers fall a great loss by taking high leverage due to non-sense planning and zero risk management policy. So, we the newcomers first of all have to know how to manage risk before trading with high leverage , because it always contains risk.
  • #70
  • Mar 28, 2017 5:12pm Mar 28, 2017 5:12pm
About importance of risk management there are many topics in this forum community , can you add some other important trading tips for the newcomer ?
  • #71
  • Mar 28, 2017 10:15pm Mar 28, 2017 10:15pm
Demo are for testing detail trading plan and ensuring the proper execution of the process.

Once you are consistent in execution of process and know that your trading analysis works,

Go live with a small account and execute in small position.

See if you are consistent. Live trading is never the same as demo trading.
  • #72
  • Mar 29, 2017 5:31am Mar 29, 2017 5:31am
Quoting smithyoung
There are two basic ways to approach the analysis of the FOREX markets: Technical analysis and Fundamental Analysis. Someone who is using a fundamental analytical approach will look at the current economic climate, political events, a variety of economic indicators, and so on to try to predict currency moves. What we will examine is technical analysis, or the use of historical price patterns in economic data to predict future moves in the FOREX.
I think it's a good idea to have at least some understanding of fundamental analysis even if you're primary a technical analysis trader. That way you'll get fewer nasty surprises from big impact news events and the like.
  • #73
  • Mar 29, 2017 3:40pm Mar 29, 2017 3:40pm
Really Forex is too much tough for a new trader. So a new trader should work hard to achieve this market easily. They should make a best trading strategy for themselves. They should spend most their time in analyzing Forex market because it will increase their knowledge of analysis. They also should practice much on dmeo account to make their trading easy. Then they should choose a right and reputed broker for them.
  • #74
  • Mar 29, 2017 5:23pm Mar 29, 2017 5:23pm
Sincerely it said that we the newcomers don’t get to the acme before our success. Success start immediately one starts the starting of the wheel. To success in Forex , we must Endeavour to Practice well giving the demo account our best shot.
  • #75
  • Mar 31, 2017 7:30am Mar 31, 2017 7:30am
Quoting JamesFaulkn
Really Forex is too much tough for a new trader. So a new trader should work hard to achieve this market easily. They should make a best trading strategy for themselves. They should spend most their time in analyzing Forex market because it will increase their knowledge of analysis. They also should practice much on dmeo account to make their trading easy. Then they should choose a right and reputed broker for them.
Forex trading is difficult even for experienced traders, what's left for newbies, if you ask me.
Also, I am not sure whether a newbie can make a trading strategy, since they still lack sufficient knowledge in order to do so, but there are plenty of strategies out there they can learn about and test to decide whether they fit their needs.
  • #76
  • Apr 10, 2017 12:51pm Apr 10, 2017 12:51pm
In Fx trading there are many questions for newbie how much they should get learning and practice and how much invest initially these both are important. In order to my trading experience , I will suggest to trade on demo for 4 or 6 months after it they should invest a low amount in micro accounts to get real trading practice.
  • #77
  • Apr 10, 2017 4:05pm Apr 10, 2017 4:05pm
Newbies should have to think of the market and if they are ready by having those practice trading and also accumulation of the trading capital that will be appropriate for their trading strategy and their aim of profits. Then it will slowly understand how to deal in this market.
  • #78
  • Apr 10, 2017 5:48pm Apr 10, 2017 5:48pm
Advice - stick to demo trading. NEVER put real money into forex, you'll lose it. Demo trading is a safe way to indulge your gambling urges while losing no money.
  • #79
  • Apr 10, 2017 9:40pm Apr 10, 2017 9:40pm
Quoting E300
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...
Learn CCI(31), Stochastic(5,3,3) and divergence.
Use the stochastic as the divergence
And treat CCI as the price
This is not investment/trading advise. Will not hold accountable for loss
  • #80
  • Apr 11, 2017 6:25am Apr 11, 2017 6:25am
Quoting E300
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...
Hi, to everyone!
Can anybody help me with advice. I'm a begginer and I'm stukked on choosing my strategie.
How to find the strategie? What to learn first? What strategie to choose? With indicators or without? Help me to find out from what to start.
So, according tothis post, first I should learn how to use/make trend lines, then Order blocks/Order Flows? Is this plan right? Your suggestions?
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