Forex kyu?

[vivekji]

even i had started with 100$ when i began, the first time my lot size was 0.01 and the profit was not more than a dollar , then i increased the lot size to 0.1 and i was well satisfied, still the profit remains on the lot size that is chosen and depending on the lot size i will say 5$ is enough to expect with a strategy offcourse

---------- Post added at 12:24 PM ---------- Previous post was at 12:15 PM ----------

yeah mod you are right that 0.01 is a very small lot size, i eventually used it when i had started and carried it till 2 weeks and now m on 0.1 lot size. mod can you plz also explain me that when you had personally used 1 as the lot size can you plz explain the necessity of when it should be used in terms of capital and also the right trend plz.

[mafa]

i will say 50 pips fpr sl and also 50 pip's for tp also, sl is very important to stop losses when we are profiting, but the pip's may vary according to differnt traders who have a different way to approach it

[vivekji]

yes most newbies hardly give time to demo a/c coz when they make small amount of profits in demo then they think that they have become masters of forex :P hardly do they know that in a real a/c a small mistake is gona make them loss and MC, staters should atleast spend 2 months in a demo a/c and then they will be perfect, i have spend one and a half month in demo and then entered live trade but m still stuck to demo a/c for practise and perfection to make a new good strategy.

---------- Post added at 12:21 PM ---------- Previous post was at 12:12 PM ----------

i will answer this question both ways for you, firstly as a new comer in this business there is slight possiblity that you will learn everything you need but still when you come to a live a/c you cannot predict the trend accurately so loss is going to happen somehow or the other coz after all its a business, on the other hand if you think possitively according to the proper principles then you may not face loss but profit and this can only happen if you learn and practise for atleast 3 months on a demo or a cent a/c but are you ready fopr this much practise? can the sniffy smell of money hold you back that long? there you have the answer.

---------- Post added at 12:23 PM ---------- Previous post was at 12:21 PM ----------

this is a very important point that u have stated here brother, har newbie ne yeh yaad rakhna chahiye ki jab aap thik se practise karte hai toh fir bhi real a/c par hamesh chotese hi age badhna chahiye matlab ki hame lot size 0.01 rakhni chahiye aur kam capital choose karna chahiye kyuki iss tarah se haam ache roots gain kar sakte hai forex mein, mainly kya hota hai ki new ppl think that with small lot sizze they will make small profits like a dollar a day and so go for big play and then they learn the harsh truth of loss, remember always that SLOW AND STEADY WINS THE RACE!!!, trade small now and then after proper experience you will gain big.

[mafa]

i have started to trade since 3 months now so not tht much of profit to bragg about but the last month (july ) was a bit better coz atleast i managed to pull of a few small profits in short term trade style

[vivekji]

yeh baat badiya kahi apne,m ki haam logo ko jab ham log forum mein ya fir kahi aur forex ki jankari lete hai toh waha par jab dusre senior logo ne unke loss ke karan bataye hote hai toh unhe note kar ke apne yaha par avoid karne ki puri koshish karni chahiye kyuki experienced members iss busines ko achi tarah se jante hai toh woh log exactly bata sakte hai ki small galtiya kaha par ho sakti hai aur woh kaise na kare toh hame jarur hi senior members ki batein sunni chahiye, mein bhi apne iss indian forum se bahut kuch padhkar dimag mein rakta hu aur jyada karke loss avoid karta hu.

[vivekji]

i do not trade in volatile market conditions normally but do take a risk sometimes coz some pip's can be easily generated but the stakes of engulping a loss are pretty to high so its a trade with lots of patience and smartness

---------- Post added at 12:22 PM ---------- Previous post was at 12:16 PM ----------

i completely agree with you and even i take chances in volatile market when m good with equity, coz once you have back up then you might jump into this volatile market otherwise its not just risky but even stupidity to trade with nothing to hold up ur back, i am saying this coz i have experience of volatile market trading and it is just to tuff to survive but good too to make profit.

[mafa]

haan forex mein investment choti bhi ho sakti hai aur isme sabse achi baat hai ki demo a/c se bahut tayyari ho jati hai haan par isme risk bhi hoti hai bhai kyuki bahut baar chize hath se bahar ho jati hai chotisi currency movement ki vajah se aur forex market 24*5 khula hota hai, weekends bandh hota hai

---------- Post added at 12:21 PM ---------- Previous post was at 12:07 PM ----------

the best thing abt forex is tt the market is open 24/5 and we can trade any time even morning or night time, and also the trade is quiet simple to be buy and sell and we can do it both ways and gain profit's

[mafa]

well good that you go with this thought but i will say that a newbie must experience atleast 2-3 pairs coz then they will be able to know which is the better on to trade with like to give an example then eur/usd has lots of ups and downs but usd/jpy has comparitively less so if you take a look at most then you will be able to choose the best that you are comfortable in and also when you are new then most of the time you are on demo a/c so this is the best way to experiment and learn most of the stuff before going live

---------- Post added at 12:21 PM ---------- Previous post was at 12:14 PM ----------

sirf ek hi pair mein trade karke hame jyada experience nahi mil sakta trade yane ki jaise eur/usd jisme bahut sari movement hoti hai as compared to usd/jpy, toh mujhe lagta hai ki hame atleast 2 pairs mein toh trade karke dekhna chahiye profit ke liye bhi aur experience ke liye bhi

[vivekji]

betting can get lucky and unlucky both ways but forex has a formulae to be profited whenever you trade and the formulae is allround learning and gaining knowledge and using ur smartness with it and so happens that betting can get you much profit even forex can get you with the right deal and offcourse if the trend is very friendly then that day might just turn out like a big profit same as in betting. :P

[vivekji]

yes exactly and i will also like to add to this that trading in the direction/ with the trend and always keep ur expectation's and emotions in ur pockets and not letting them take over you,