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I need to know what it actually is forex market? and how should I menaklukkannya? I think if I was to get a powerful weapon called the indicator to know historical a pair. because with it like that then I would know the direction of the market price, thus it will be more directional where do I have to open position.
for me the most preparation i need to set up is my trading environment and of course my own emotions. i must make sure that i'm in a good shape and in a good mood. without that, all my trading will completely ruined.
thanks a lot. very helpful information.Quote:
Originally Posted by The Sniper
Your guidelines are right. I like add more that you have to start trading in such brokerage at least which tight spread and get support instantly. And always try to keep at least your investment. As a newbie you cannot trade for profit, because forex is risky business. But if you can keep your investment once upon a day you will be expert and must win at last. So be patient.
i think, at first everyone should watch carefully and proceed slowly.
There is a saying that "Before invest, investigate a little".. Now if you planning to trade in forex.. then you must know how this market really works.. you need to make yourself strong enough to trade with efficiency... otherwise it will just like dumping your money into the ocean.. Never forget that forex is the biggest and toughest business of all..
The best way of before forex trading you should learn firstly baby pips and should use to demo account . its very knowledgeable things for traders and new traders it will be very beneficial.
Before starting trade it is necessary to take some training or some tips to enter into the business. Best way is to choose demo course that will be beneficial. Without proper training there is a risk of heavy loss in the starting of business.
When i start in Forex trading i follow some subject matter-
Before starting the Forex trading i must take the point bellow on my calculation.
I think that i should be mentally free from tension.
I think that what strategy can i use and how can i earn more profit .
How much i can invest in a single trading.
I also think what money management strategy can be use to earn more profit.
Good advice and valuable and important for any trader should learn before you start trading in the Forex market ... Should know no leverage will be used and would recommend any novice trader using the leverage of small dimension to risk capital and choosing a good strategy for trading.
great tips for newbies :)Quote:
Originally Posted by playfx
even though it seemed tiny, mood can also affect our trading result and i agree with you on this one.
sometimes i missed trading opportunity because i'm not in the mood to trade and this is bad for me.
but at least, every time i want to enter the market i make sure that i am in perfect health and have a fresh mind.
To obtain a consistent profit we should have a good strategy, many strategies that we use but must conform to your trading style. strategies in addition you also need to have emotional control, and good money management.Quote:
Originally Posted by ashar
suggestions are very useful for me and I will make my guidance in doing this business. I will be happy in this business. successful greeting:yahoo:
if I may add that my habit of doing before the start of trading is the bath:)))
Before Star Trading, I think the best is our prayer. Physical and health then we must also be good, so that we can do the analysis properly. Good physical condition will not affect our ability to think. So if physical condition is good, better not trading.
I think it is important for you to select a currency pair to trade on too. And before start trading you must look at the position of the market and read all the news too. Then you can set your trading strategy and see if there is a signal. mean time you can refer others analysis reports too. Then based on all the details you can open position. Once you open the position you must decide your SL/TP levels. It is also important because that will not only safe guard your profit but also safe guard your loss from un expected market movements
I hope that before start trade you should more learn and have confident to know about forex. You have plan, low leverage, opening strategy and closing strategy of trade, invest, risk, money management, emotion, technical analysis, news, sentimental, open low trade and also take more time to monitor market then you can open the trade. You will be gain for open the trade.
before starting to trade, it helps if the merchant is able to recognize basic trading style that was in him. then learn discipline and managing the funds used in the trade. I suggest to use a demo account to be able to learn the skills and the ability to trade before deciding to go on a real trade
Patience is a decent business rule began and discipline is the key to business success. New traders need to learn the theory, in this forum to learn and be able to download the book, when you can win in a demo, demo accounts have a lot of practice. You can start trading in actual accounts.
han app ki baat sahi ham ko en cheezoun ka lazmi khiyal rakhna chiye kioun k main khud bhi ye cheezine dekh kar he forex trading ko strat karta houn es se mugh ko kafi help milti ha forex ko samghney main or koi decision leney mainQuote:
Originally Posted by alamayreh
Pips in an easy word we can say that points for example we say 5point up/down in forex, we state 5pips up/down leverage in straightforward word multiple your money excluding if your account have 10$ and you decide 1000 as leverage then you would be able 10$ to manage 10*1000 market movement.
trading strrt kerne se pehle is ko smajh lena bohat zarori hai is ke saath saaath demo practice bhi lazmi hai.shuru main insaaan ko is main potential kafi nazar ata hai or wo jald bazi main nuqsaab kerwata hai is liye real trading se pehle practice zarori hai.
yup, same with me, confirmation between fundamental and analysis is the most important part before we decide enter the market. Usually i will crosscheck in each time frame form the smaller one till the bigger one, if all the movement is on the same path then i will know it's time to enter the position.
Before starting in the circulation and enter the market with money the fact there are many things must we think about and try to adhere, the most important is whether we have gained sufficient experience of the ability to make profits and avoid losses, and also you will adhere to the management of capital and the strategy we follow and wait for its signal full and not to rush ...
hm ap ne jo list tiyar kli ha na ye kafi achi ha or koi bhi newbie jo k forex trading ko abhi itna nahi janta ha ager woh es taran se trade ka aaghaz karey to main yahi kahoun ga k forex trading main us ko kafi had tak benifit mele ga profit ki sorat mainQuote:
Originally Posted by alamayreh
My rule is:
"Before starting trading one should learn the basics of the Forex trading. Also we need to know how the Forex market works actually and only then we will be able to make money from trading. and most important is about money management"
I think when we waterfall plunge in the forex world must observe and wait for the right moment to take a position, because by this time we are able to find our fortune trading in any time.
physical condition is also something that we must pay attention to because when we are not in a healthy condition we will be prone to erroneous decision.Quote:
Originally Posted by ashar
that is why we must be healthy and then must keep our health for as long as we intend to stay in this business.
healthy body, healthy mind and healthy pocket.
Before start real trading you have to trade in demo account at least 1-3 months & you have to practice a lot in demo trading,because real trading is very strategic and you have analyze a lots of strategies in your demo trading and which makes a good results you should follow those in your real trading.Quote:
Originally Posted by alamayreh
before you start trading you should know the risk of trading. I'm also sharpen the analysis. I think it would be difficult to combine technical and fundamental analysis, if you could combine two of this analysis, you can share knowledge in this forum
before trading we must know leverage and how we use it , every person must decide his strategist and how to decide take profit and stop loss there are many things that the trader must know before trading
before trading you are committed to minimizing risks. I limit the risk of 5-10% of equity per ding transaction. I also like trading using scalping strategies, but sometimes I get a big minus floating, so the profit which I can be quickly lost
discipline that we apply will maintain our leadership and we must know that we will practice follower to follow the price movements in the exchange market.
being a newbie is always a challenge in trading...well get going wid everythin u have but invest a ransome amount whereva u know itz worth da risk....go thoroughly wid da market...analyse it...try n match da flow....wen u fullproof of every bit of da trade u r gonna be doin den only go for it....makin blind investment wont do any good...best of luck
Making extra return of investments can be count as an advantage for trading. Due to its unique leverage, futures trading is one of ways to make high profits. Five thinks a newbie should always try to follow:
1. A trader should always have a plan.
2. Only trade money you can lose.
3. Be patient and learn to control your emotions.
4. Treat futures trading a job, not hobby.
5. Keep learning and educating yourself.
before trading you must specify a target profit and the risk that they would be accepted. novice trader must learn discipline, that discipline is a good habit. if you can not discipline, you can try trading with EA, the EA can guarantee the rule of discipline in your trading system
Before trading you should practice demo account.Basic rules of forex trading.control emotion. Always see the world news.etc.
correct sir, as a new trader should not appropriate when the world embark on the forex trading using real because I thought it would be very harmful to the account balance he has, because the demo account just to test you sir, may helpQuote:
Originally Posted by Mr.Tushar
A forex currency exchange trader should be ready for forex before they invest their hard earned real money into it. We need to have a complete knowledge and good trading experience before we start trading forex.Quote:
Originally Posted by abdillahikbal
To me the amount of investment is easy, just as small as possible, hehe. And I guess the strategy for opening a trade and strategy for managing money are the most critical and tricky parts. I think before selecting these two things I must practice a lot before I know which ones are suitable for me.Quote:
Originally Posted by alamayreh
Hi thanks for the advice. However, this is something new, we need to use same amount of capital in demo account and real account? Hmm, in the demo account, I chose 5,000$ as the capital fund, but I don't I would invest that much? Maybe couple of bucks would be my first investment when I'm in real forex trading, plus I see some program offers you free starting fund, maybe I could try those things also, what's your opinion?Quote:
Originally Posted by SeoHyun