Advice for forex beginners

[BTC Future 3946]

21 hours ago, Yomose said:

Demo account is not any advantage at all,trading with money is not the same with trading with nothing.

Exactly. To me a demo account is just a way to familiarize with the environment, but I never suggest to use test money and figure if you are a good trader or not. The situation is totally different.

 

By the way anyone can recommend a link for a forex testnet? I'd like to try and make a few small trades but I would want to learn the exchanges first.

[Jafars6953 46]

On 1/21/2020 at 5:39 PM, Karani said:

1. Register for a demo account
2. Set targets
3. Don’t trade emotionally
4. Understand the market
5. Know your limits
6. Take risks
7. Work with a reliable trading partner

 

mind you own psychology and use your own experienced method you'll never loose trade 

[lllife 32]

During the first months it is not recommended to trade manually in a real account, but rather to practice on a demo until you learn how to make profit. You don't have to hurry to start trading in a real account, Forex will not run away from you and will wait until you are ready. This will help to significantly save you from losing money, as it's not uncommon for beginners to lose their first deposits. 

[dr4ch3 18]

On 1/21/2020 at 1:39 PM, Karani said:

1. Register for a demo account
2. Set targets
3. Don’t trade emotionally
4. Understand the market
5. Know your limits
6. Take risks
7. Work with a reliable trading partner

 

Very good advice for new trader

[Duay 5]

Well, a great option to start trading in the forex market is with demo accounts. With this you will learn and take more experience. before investing without knowledge. Forex demo accounts are a very good alternative. and it is advisable when investing is with low amounts. and earn a little while you add experience.

[corrtutby 21]

You must select strategy that is best suited for you and follow it thoroughly to remove emotions from equation. If you make emotional decisions and go out of a strategy way, you won't be able to analyze later if that is strategy led to result or your emotions ( be it profit or loss ), so you won't be able to reproduce it later and you will don't make progress as a trader. After defining you strategy use money in amount which you can afford to lose. I don't think that demo account can make you good trader. So don't play with it too much.

[ricardoramc 49]

On 14/2/2020 at 11:27, dinabolt said:

La primera lección para el comerciante es nunca usar bot / señales comerciales. mal hábito y hará que tu habilidad no crezca. Encuentre un sitio / foro / grupo que tenga información actualizada sobre el mundo comercial porque algunos de ellos solo hablan sobre pérdidas y ganancias sin compartir conocimientos y estrategias. Lugar adecuado para la persona adecuada.

Your answer is very correct, it is like this, normally when one starts trading many people arrive offering signals with 90% effectiveness and one falls into the trap and it is only to take the money from us, with robots the same thing happens they offer returns of 40 % monthly or more automatically and in the end they end up burning the accounts.

[Mir Hamza 2888]

Before working on forex trading we should work on demo account. I mean before working on real account one should work on demo account. While working on a real account, we should flag off Stop Loss at a profit. We should set a target. We should not work passionately at all. While working on Forex we should stay connected with our company Hans. So that way we are less loved and that is more. We should follow all these things so that it can prove beneficial for us. 

[Jafars6953 46]

On 1/21/2020 at 5:39 PM, Karani said:

1. Register for a demo account
2. Set targets
3. Don’t trade emotionally
4. Understand the market
5. Know your limits
6. Take risks
7. Work with a reliable trading partner

 

after competing demo practice you have to start trading with no deposit bonus account. there are many brokers that offers no deposit bonus to test their knowledge in with live trades. you can withdraw your profit also after completing some conditions.

[ricardoramc 49]

The best advice for beginners is that they are never comparing trades with other people because that causes a lot of frustration, go on your way without looking at the trader who claims to be successful

[ricardoramc 49]

On 13/7/2020 at 9:33, JohanDonne said:

Lo más importante en el comercio de divisas es que, cuando desee aprender de la cuenta demo, ponga la misma cantidad de dinero en la demo que puede colocar en la cuenta real. Y practique en consecuencia.

Yes, that point is very important since we can know how much we can win or lose with our real capital

[yabul52 1]

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[Wilfrr 37]

What good tips really to do trading and more with forex the fact of starting with a demo account is trying to demonstrate the skills that you have obtained either through video or because you are in an academy getting basic knowledge and then adapting to the era of  the trade

[Enola Holms 0]

I have seen many people who do forex trading on many plateforms and they offer to trade on your investments and keep half of the profit as the reward, I personally think it is the best thing to do if you do not know how to trade and can not learn.

[GanBin 705]

Learning about forex very well will help, forex is very risky, I know someone some years ago, he used $2000 to start to trade forex, the whole money was lost within 2 months and some days, that was what encouraged me not to even do forex. But, I have some friends that gain from it, they risky low and do not have greediness, they were able to learn it very well and they are gaining, but not that they gain all the time, there are days they are losing too, but there gain is more than loss. 

[JanBomCrypto 494]

We should learn about forex very well before we begin to trade, like me, I opened an account but I did not use it because I find it hard to open an learn what forex is professionally, so I can lose and I did not trade it. Learning is the very important part of being successful in forex trading. 

[Sailer 1532]

В 2010-2011 году я начал активно участвовать в бесплатных конкурсах с реальными призами от forex  благо таких полно и по сей день! Опыт торговли и виденье того что не замечают трейдеры с опытом мне принесли свои плоды! Сам forex оставил в забитее с 2015 года есть более плодородные направления! Только практика в конкурсах с призами без копейки вложений принесет без убыточно капитал - совет скромного ветерана. 

Edited November 7, 2020 by Sailer

[rahmi777 320]

The use of financial management for transactions is very important because that makes you continue and you will never lose your account, and the larger the amount, the better profit 

[raheel4321 9]

advise for Forex beginner is that know the markets.we cannot overstate the importance of educating yourself on the Forex market. make a plan and stick to it.know your limits. check your emotion on the door. keep it slow and steady.

[Antonio Mendoza 173]

Open a real account but star with cent account, try to in demo for some month after that go real id better than demo account this way you will feel the market and you will star to control your emation, subcribe to you tube channel of Forex, learn seeing other people making trading.

[Amr90 1064]

Good advice,
Add to that, sentiment management, capital and risk management.
Learn the basics and start trading manually with a demo account.

[Amna Hareem 1213]

On 1/21/2020 at 5:39 PM, Karani said:

1. Register for a demo account
2. Set targets
3. Don’t trade emotionally
4. Understand the market
5. Know your limits
6. Take risks
7. Work with a reliable trading partner

 

Thank you so much for this advise it is really very helpful. Many people at making accounts and wants to do trading but they have not enough information about this first for doing anything you have yo first gained knowledge about it and then do it and I say don't take risks because in risks many time you can lose your money so you should avoid this you can take small risks but not big one. Some lucky people takes big risks and win but we don't should do this we have to avoid this.

[joemcgwa 3227]

On 1/21/2020 at 3:39 PM, Karani said:

1. Register for a demo account
2. Set targets
3. Don’t trade emotionally
4. Understand the market
5. Know your limits
6. Take risks
7. Work with a reliable trading partner

 

But its more good as the beginner to be using forex demo accounts while they are learning forex theory this will be giving them more creativity in trading.

[Ameralsamt 2558]

Thank you, dear, for this useful and wonderful participation, and I advise you, my friends beginners in the field of forex trading, to gain experience and learn technical analysis of the Forex market, and most importantly to take the recommendations of experts, do not be reckless and enter a demo account, and learn accurately. 

[BraveHeart01 1569]

I think that area should learn from the others experience to at the start and after that he should start with a little amount and the investment and should practice a lot before he puts some great money in that