5 Tips for forex beginners.

[The Sniper]

I appreciate yours points very much. but I m unable to understand yours 5th point. as when to start, stop, or pause. ye sab kesa pta chalta ha. k kab trade ki jayay or kab ni. kab konsa pair sahi hai. aur kb ks ka time ha. as time management kesay ki jati ha? kiya ap mja bta sktay hain. waiting for yours reply.

I believe that the operator can not be disciplined in the rule of negotiation, it can generate a consistent profit, but it is very difficult to be disciplined, which requires a lot of time to undergo the learning process

[truegoa]

The forth point will be the hardest thing to do for every new beginner trader. Some of us, believe that we can gain alot of profit just using tiny capital in short period of times or instantly. That is the reason why I said before that using good money management (forth point) will be hard to do, expecially for beginner.

[dewik79]

1. If you don�t have much capital, forex is the ideal form of investment.
2. If you have too little capital, you�d better not trade at all.
3. Love the market (one forex tip that says it all)
4. Very important forex tip: trading at high level requires a good knowledge of the market.
Not even the best trader in the market gains all the time.
5. Forex market is extremely volatile. For this reason, timing is essential: knowing when to start, stop or pause is a crucial to gain money with forex.

A lot of experience on forex, will make us become accustomed to the various conditions of forex. How was your strategy excellence, if you do not have much experience, you'll just be a loser trader. In my opinion, good tips for beginners, multiply the experience, because experience will teach you to be better.

[zindamurda]

I think these things are good or not before entering foreign newcomers market.Many that point and that point is in the trade-off should not be opened. I always try to understand this point.

[SAMIYA NOOR NOVA]

1. Always trade in the direction of the long-term trend. Use different indicators to help you wait for the pullbacks and the opportunities to get it at a resistance or support level. Trying to trade against the trend will cause you pain !
2. Do not open up 10 different currency charts like a kid in a candy shop. Stick to just 2 or 3 of the big pairs such as EURGBP, EURUSD, USDJPY (choose those with the lowest spreads as well as you can save alot of money) and become an expert in these and learn how they move.
3. ALWAYS use a Stop Loss. this will prevent you losing all your deposit from a sudden and volatile movement (eg terrorism, tsunami).
4. Learn good money management. Everyone has losses � treat it as a business � a flower shop if you like and at the end of the day there will be some flowers you need to throw away. Even with 50% losses you can still make money by letting your winners run and having tight stop losses.
5. At the beginning try trading only at certain times of the day and for small periods � this will avoid burn out and getting yourself disappointed and depressed. For myself I prefer the London opening from around 7am to 10am....these 5 tips are important i think

[Gurufx]

Well, a newbie should practise demo account at the start and then start trading, to become a successful trader you need a lot of experience, management of money, you shoudl have better analytical skills, you should have better capability of understanding the market trends, Always learn from his mistakes and trade on the right time.

I think management so important to minimize risk in trading because if we already knew the condition in market, it will be easier to make right decision than we didn't know the condition before. And also, if we made many transactions in trading, our confident will rise because our knowledges and our experiences is more than before.

[mahi khan]

i am totally agree with ali1011 bhai. his tips are significant and very much useful. Thanks for your tips.

[jamalmolla5]

Nice post. I think this will be very helpful for a beginner level trader also they can follow this:
1. Books
2. Forum
3. TV
4. Newspaper and so on

[symoon24]

Nice thread.These are great tips for beginner.I think this tips is very useful for newbie in Forex. Thanks for sharing these are very helpful. Hope For The Best.

[tuturtugjtu]

Hello Friend,
In my view these all things are good to keep in mind before entering in the Forex market.
Specially the point number 5 is worth thinking. Many newbies don't know on which point to
open a trade and on which point it should be closed.

Thank you.