5 Tips for forex beginners.

[Bilal zulfiqar]

Forex main sub sy zyada loss new trader ko hota ha q k un k pass experience or knowledge ni hota jis ki wja sy wo buhat c mistakes kr jatay hain or unhay loss hota ha..forex main trade karnay k liyay experience or knowledge ka hona buhat importent ha.

[amjadali_m]

Rule number 1 for every forex trader is to survive. Every trader has losing trades, but when you go broke you can put yourself in a position where you can no longer have winning trades. Therefore, before everytying else you have to make sure you stay in the game.

---------- Post added at 09:35 PM ---------- Previous post was at 09:33 PM ----------

Many beginning and/or consistently losing traders focus exclusively on having a profitable trading strategy. But even though a good trading strategy is definitely important, using solid money management and having a rational, disciplined trading attitude will get you further at the end of the day.

Two rules of thumb for good money management are not to risk more than 3% of your trading capital per trade and making sure you have enough trading capital for at least 40 trades when you are a beginner.

---------- Post added at 09:38 PM ---------- Previous post was at 09:35 PM ----------

The stop loss is perhaps the most powerful weapon in your arsenal as a forex trader, just as the most powerful weapon of the professional poker player is the fold (if that means anything to you). The stop loss allows you to predetermine your risk down to the pip, therefore ALWAYS use it!

---------- Post added at 09:40 PM ---------- Previous post was at 09:38 PM ----------

There are really only advantages to putting in a stop loss. It forces you to think about when the trade you're about to put on would be considered a failure. After you've opened the position you might talk yourself into staying in a trade going bad, using all kinds of irrational excuses. But if you've set a stop loss before opening the trade (when you were still thinking rationally) you'll always have that shining beacon, reminding you that you'd be a weak, emotional idiot if you stayed in the trade after the stop loss is triggered.

Setting a stop loss also forces you to think about your profitable trades/losing trades ratio. Suppose you want to risk 50 pips to win 100 pips, that would mean you'd need a winning trade at least 33% of the time to break even. Does your trading strategy get you a profitable trade 33% of the time?

---------- Post added at 09:44 PM ---------- Previous post was at 09:40 PM ----------

Unless you are amazingly lucky you can't expect to close 80% of your trades profitably or turn a $500 trading capital into a $10,000 trading capital in six months. With those kind of expectations you're simply setting yourself up for disappointment, frustration and failure. (unless you're very, very lucky).

[MaryamAwan]

Plan your goals. Stick to your plan.
Once you know what you want from trading, you must systematically define a timeframe and a working plan for your trading career. What constitutes failure, what would be defined as success? What is the timeframe for the trial and error process that will inevitably be an important part of your learning? How much time can you devote to trading? Do you aim at financial independence, or merely aim to generate extra income? These and similar questions must be answered before you can gain the clear vision necessary for a persistent and patient approach to trading. Also, having clear goals will make it easier to abandon the endeavor entirely in case that the risks/return analysis precludes a profitable outcome.

[sufiyan22]

bhia apne bohat hi achi post share ki hn tamam bignnerr ko sab se zyada money managment ko follo krna lazi hn oske bad slauar capital high se kam lena hn oske bad loss profit apki education pr depend krti hn

[MixTr Sikho]

Now that we are above the 100 bar MA a 1.31656 - and it was tested 4 times this week - longs may have that level as a hard stop now. Stay above, more bullish. The shorts had their time in the sun. Closer risk for those concerned about the GBPUSD ability to sustain a rally would be the 50% of the 5-6 week range at 1.3181 level (go down to the old high this week at 1.3177).

---------- Post added at 06:58 PM ---------- Previous post was at 06:56 PM ----------

The pair is moving further away from the 100 bar MA on the 4-hour chart (blue line) and moves toward the 200 bar MA on the same chart (green line). That level comes in at 113.05. The swing low from last week came in at 112.95. The 61.8% of the move up form the October low comes in at 112.82.

[mdkhorsheda40]

the trader can be disciplined in trading rule, it can generate a consistent profit, forex has an advantage that it possesses for traders who do not have enough money to invest. then be able to control larger sums of money.

[skfx]

bhai ap nay beginner ko jo tips share kiay haiwo bohat achay hai. ya tou joiner / beginner trader ko chaheay k woforex market ki zada say zada learning kray. tk wo firex market mai tradeshoro kray tou en ki earning zadaho. forex business mai knowledge kimadad say kamyabi hasilki jay sakty hai.

[sadamk]

Forex Tip 1. Money Management

Rule number 1 for every forex trader is to survive. Every trader has losing trades, but when you go broke you can put yourself in a position where you can no longer have winning trades. Therefore, before everytying else you have to make sure you stay in the game.

Many beginning and/or consistently losing traders focus exclusively on having a profitable trading strategy. But even though a good trading strategy is definitely important, using solid money management and having a rational, disciplined trading attitude will get you further at the end of the day.

Two rules of thumb for good money management are not to risk more than 3% of your trading capital per trade and making sure you have enough trading capital for at least 40 trades when you are a beginner.

---------- Post added at 06:03 PM ---------- Previous post was at 06:00 PM ----------

Tip 2. Always use a stop loss

The stop loss is perhaps the most powerful weapon in your arsenal as a forex trader, just as the most powerful weapon of the professional poker player is the fold (if that means anything to you). The stop loss allows you to predetermine your risk down to the pip, therefore ALWAYS use it!

There are really only advantages to putting in a stop loss. It forces you to think about when the trade you're about to put on would be considered a failure. After you've opened the position you might talk yourself into staying in a trade going bad, using all kinds of irrational excuses. But if you've set a stop loss before opening the trade (when you were still thinking rationally) you'll always have that shining beacon, reminding you that you'd be a weak, emotional idiot if you stayed in the trade after the stop loss is triggered.

Setting a stop loss also forces you to think about your profitable trades/losing trades ratio. Suppose you want to risk 50 pips to win 100 pips, that would mean you'd need a winning trade at least 33% of the time to break even. Does your trading strategy get you a profitable trade 33% of the time?

Another advantage of the stop loss is that you don't have to be afraid that one badly chosen trade will kill your whole account in case the trade goes bad and for some reason you're not in a position to close it manually. So remember to always put in a stop loss and never move it further away after opening the trade.

---------- Post added at 06:05 PM ---------- Previous post was at 06:03 PM ----------

Forex Beginner Tip 3. Be realistic

Unless you are amazingly lucky you can't expect to close 80% of your trades profitably or turn a $500 trading capital into a $10,000 trading capital in six months. With those kind of expectations you're simply setting yourself up for disappointment, frustration and failure. (unless you're very, very lucky).

Try to look at things realistically right from the start. Determine an attainable percentage of winning trades considering your strategy and experience. Ask yourself how much time you can spend on trading and learning. When you have a clear view of your trading tools and conditions, you will find it much easier to work towards a profitable trading strategy.

For example, suppose you're a day trader with a trading strategy where you risk, on average, 15 pips to win 30. After doing about 200 trades, it turns out that 50% of your trades reached their profit target of 30 pips; the other 50% of the trades went sour and triggered your stop loss. So you've won 100 x 30 pips = 3,000 pips and lost 100 x 15 pips = 1,500 pips, for a gross revenue of 1.500 pips total. Gross revenue, because you still have to deduct the spread, i.e. the transaction cost you pay your broker, remember? Let's say the spread is 2 pips per position, meaning your 200 trades costed you 400 pips. Your net revenue then, was 1.100 pips over 200 trades, or 5.5 pips per trade.

Of course data on 200 trades isn't enough yet to be of statistical significance, but at least it would give you something to work with: on average, each trade nets you 5,5 pips.

---------- Post added at 06:07 PM ---------- Previous post was at 06:05 PM ----------

Forex Beginner Tip 4. Interact with other traders

For beginning traders an often overlooked source of information is other traders. Of course, reading books about forex is important. Books can provide you with a solid basis in a short time, providing a foundation to build on.

Practicing is another important factor to get the hang of things quickly, but you'd be surprised to find out how often fellow traders can give you valuable feedback about your trading strategy, or about alternative ways for putting on a particular trade. You should therefore become part of an online forex community and consider starting a trading blog, so people can comment on your strategy.

Don't be embarrassed because you're a beginner; remember that we all started out as beginners at some point, and many of the traders you'll meet on online trading forums are also just starting out.

---------- Post added at 06:10 PM ---------- Previous post was at 06:07 PM ----------

Tip 5.Keep your emotions under control

This last trading tip is perhaps the most important one. As previously said, trading on the forex is exciting, fun and dynamic, but it's crucial not to get carried away because of this. Successful traders approach trading like a business, not a hobby.
You use your trading capital to make business decisions; some will make you money, others will cost money, it's that simple. But as soon as you lose sight of your rationality I promise you that the losses will stack up pretty quickly.

I'm talking about those moments that you do move your stop loss, because you just can't get yourself to take the hit. Or those moments that you decide to get in right now, even though your trading plan tells you to wait, because you're so scared to miss the trade, or perhaps you're just bored. Those moments that you're so mad that you lost 10 trades in a row that you start trading with triple your normal risk, taking positions in currency pairs you normally never trade in.

Those are the moments you lose in 30 minutes what it took you three weeks to build up.

[MaryamAwan]

Forex has caused large losses to many inexperienced and undisciplined traders over the years. You need not be one of the losers. Here are twenty forex trading tips that you can use to avoid disasters and maximize your potential in the currency exchange market.

---------- Post added at 05:53 PM ---------- Previous post was at 05:09 PM ----------

Define your risk tolerance carefully. Understand your needs.
To profit in trading, you must make recognize the markets. To recognize the markets, you must first know and recognize yourself. The first step of gaining self-awareness is ensuring that your risk tolerance and capital allocation to forex and trading are not excessive or lacking. This means that you must carefully study and analyze your own financial goals in engaging forex trading.

[umarfarooq2431]

These 5 tips are also for beginners .
1- practice wth demo account at least 1 month.
2- get daily analysis .
3- watch forex latest news and updates.
4- contact to expert and learn forex trading.
5- keep best forex strategy .