collapse

Author Topic: How do i get started?  (Read 5894 times)

Offline iceman02

  • Full Member
  • ***
  • Posts: 107
    • Trade results!!!!!!!!
How do i get started?
« on: January 27, 2010, 08:27:32 AM »
Right now i use robot to trade. Iam very interested in learning. How do i start? First step, the ins and out.

Thanks...
hubpages.com/profile/autotrader

Online Trade It Easy

  • Sr. Member
  • ****
  • Posts: 641
Re: How do i get started?
« Reply #1 on: February 10, 2010, 11:53:41 PM »
Right now i use robot to trade. Iam very interested in learning. How do i start? First step, the ins and out.

Thanks...

Hi Iceman,
A great place to start is to visit: http://www.babypips.com Its a free, funny, and easy-to-understand guide for teaching beginners how to trade the forex foreign currency market.
Then I suggest you start going through the pro fx thread in the indicators topic. Starting with easy to use indicators like that helps so much and you gain so much knowledge and experience from trading over time with pro fx and other similar indicators.
Regards
Autotrader
Verified FX Megadroid stats: https://www.myfxbook.com/members/theforexbloke/advanced-megadroid-setup/1932741

Work hard from the ground up. I make money from trading however it hasn't always been that way. I lost before I started "winning".<br><br>I made and make my money from my business which is casino hire ie hiring out casino tables in and around Nottingham UK. To see what I do go to: http://www.winwincasinohire.co.uk

Offline plamar

  • Jr. Member
  • **
  • Posts: 60
Re: How do i get started?
« Reply #2 on: April 12, 2010, 11:02:06 AM »
Right now i use robot to trade. Iam very interested in learning. How do i start? First step, the ins and out.

Thanks...

firstly you should learn the basic terms of forex. Than you should learn several simple indicators and strategies. Than you should ask a lot of questions at this forum (and other forum related forums). And than you`ll have enough knowledge to decide what to do
Sorry for my bad english...

Offline OneFX

  • Jr. Member
  • **
  • Posts: 14
Re: How do i get started?
« Reply #3 on: May 20, 2010, 02:42:16 AM »
If you really want to be sucessful in forex, this is my advise.

1. Get a mentor, any mentor worth there salt is going to charge high . I know a few good ones.

2. Dont take advise on forums. Forums consist of the 98% of the people who do not make money. Any good mentor will tell you to just stay away from them! So I dont blame you for disregarding this post  ;)

3. "Get a strategy, any strategy. Trade that Strategy!" -Bollinger.

 Stick to the rules! "Hard to do when your reading all this wonderful advise on these forums".

Now if you want a cheap start creating your personal system, read bollinger bands by bollinger. Thats a mentor! You get his advise for the price of a book! But its just a stepping stone in your trading system.

I fully agree with Autotrader in reading babypips.com tutorial if you have no idea whats going on. I also suggest you subscribe to the free newsletters at fx360.com. Kathy Lien does an excellent job at explaining why things are happening in the market place.

Offline Vega

  • Jr. Member
  • **
  • Posts: 5
Re: How do i get started?
« Reply #4 on: May 25, 2010, 05:14:33 PM »
Iceman, how have you done using robots? This seems to be the way to get into Forex without having to work hard or learn much about Forex. Of course, that also sounds like there is a lot of risk.
Vega Sinclair, Forex Newbie

Offline DaveL

  • Hero Member
  • *****
  • Posts: 2699
Re: How do i get started?
« Reply #5 on: May 25, 2010, 08:28:02 PM »
hi Vega

go careful as there's no free lunch, the EA marketplace is a minefield with a lot of garbage EA's being pushed. Most of the emails you'll receive from affiliate marketeers will tell you this one is the best thing since sliced bread, promises of millions while you sleep, blah blah. These affiliates never even test them before they push mails out to you, almost every one is a dud, not surprisingly; like they care ::)

Best is to learn manual trading if you can and if the main UK/US market hours suit your work/sleep hours, as these are the best ones to trade. If you want to go the EA route, read over the various active threads, carefully and decide what type of trading/EA suits your persona best. Some trade frequently, others less often.

But, before you go buying anything, do the basic learning (google babypips for trining info) so that you have some understanding of the market and terminology, and when you do decide to start, do it slowly and with minimal lot sizes (0.01) so that while you will make small wins, you'll preserve equity when you hit the inevitable stop losses. Also be prepared to lose for some time before you start to turn things around consistently :o

Dave
starting over...

Offline mwscofield

  • Jr. Member
  • **
  • Posts: 43
    • Reliability EA / Probability EA
Re: How do i get started?
« Reply #6 on: June 16, 2010, 01:41:22 AM »
Definitely trade on a demo account before going live.  Very important to learn the basics first.

Offline jaxter

  • Jr. Member
  • **
  • Posts: 5
Re: How do i get started?
« Reply #7 on: July 16, 2010, 05:39:37 AM »
Definitely trade on a demo account before going live.  Very important to learn the basics first.

This is probably the best way to learn practically, I also started the same way by opening a demo account, the demo account will possibly give you all the knowledge but I also suggest you to start reading some good books. One of the good book that I can suggest you is Currency Trading For Dummies by Mark Galant & Brian Dolan.

Offline david718

  • Newbie
  • *
  • Posts: 4
Re: How do i get started?
« Reply #8 on: August 01, 2010, 01:59:48 PM »
I've heard of using robots but I've never done it myself. I have considered that before but that's a lot to risk. Robots usually cost quite a bit of money upfront too. If there's a really good way to make money that doesn't involve any work - let me know. :)

Offline styla786

  • Jr. Member
  • **
  • Posts: 9
Re: How do i get started?
« Reply #9 on: August 29, 2010, 04:30:23 PM »
It's really not that hard to get started in trading Forex . The key factor is to keep going - keep learning and focus on your training, with education and practice through a demo account. I m telling you some  steps for you to follow on getting started with Forex trading.

   1. Learn, learn, learn, and learn.
   2. Paper trade Forex in demo account.
   3. Maximize your FX trading tools and systems.
   4. Selecting a Forex broker.
   5. Avoid Forex trader's common mistakes.
   6. Keep investing in your trading education.

Offline chk56

  • Full Member
  • ***
  • Posts: 311
Re: How do i get started?
« Reply #10 on: October 04, 2010, 04:59:02 PM »
I'm a die-hard EA trader, because unless you are a forex freak, prepared to spend your whole life in front of a computer screen, EAs are the only way to make trading compatible with your private life.

And then, there are strategies, that simply are not possible to be executed by humans, because they require 24 hours of monitoring the market and making lightning fast decisions.

But it is absolutely necessary that you completely understand what your EA does, and why it does it. Keep away from black boxes. No Fapturbos or Megadroids. It will make you sleep better.

Offline SteveCot

  • Jr. Member
  • **
  • Posts: 82
Re: How do i get started?
« Reply #11 on: November 03, 2010, 09:58:11 AM »
I'm a die-hard EA trader, because unless you are a forex freak, prepared to spend your whole life in front of a computer screen, EAs are the only way to make trading compatible with your private life.

And then, there are strategies, that simply are not possible to be executed by humans, because they require 24 hours of monitoring the market and making lightning fast decisions.

But it is absolutely necessary that you completely understand what your EA does, and why it does it. Keep away from black boxes. No Fapturbos or Megadroids. It will make you sleep better.
OK, what forex system you can advise for newbie?
If you have any forex related offers for me - I`m open minded to hear about them

Offline MastaerFX

  • Jr. Member
  • **
  • Posts: 67
Re: How do i get started?
« Reply #12 on: November 03, 2010, 01:03:39 PM »
Try to trade manual :)

Offline tom_tom

  • Full Member
  • ***
  • Posts: 385
  • Lets make some pips !
Re: How do i get started?
« Reply #13 on: November 04, 2010, 01:06:33 PM »
In this case you should training for a long time. Your manual trading can be profitable after a year on forex.
Trading belongs to the most persevering!

Offline chk56

  • Full Member
  • ***
  • Posts: 311
Re: How do i get started?
« Reply #14 on: November 06, 2010, 04:51:52 PM »
I'm a die-hard EA trader, because unless you are a forex freak, prepared to spend your whole life in front of a computer screen, EAs are the only way to make trading compatible with your private life.

And then, there are strategies, that simply are not possible to be executed by humans, because they require 24 hours of monitoring the market and making lightning fast decisions.

But it is absolutely necessary that you completely understand what your EA does, and why it does it. Keep away from black boxes. No Fapturbos or Megadroids. It will make you sleep better.
OK, what forex system you can advise for newbie?

Everybody has their own preferences, but I'm very fond of Forex-Goldmine products, especially their last one. You may like them or not, but they explain exactly how their EAs work, and this is what makes me sleep better. And they ARE profitable.

If you want more insight, visit their home page (google for it) or drop me a PM...

P.D. Despite of what EA sellers might advertise, you MUST understand the rules of Forex, before attempting to trade even with the most "auto-piloted" EA. You must know what lotsizes are and how they relate to real money, and you must understand what leverage is, and how it can help you, or how it can devastate your account. The best and easiest way to learn, like stated elsewhere in this thread, is babypips.com

 

* Recent Posts

Re: FxMath Harmonic Patterns Signals By Email by FxMath
[Yesterday at 08:12:44 PM]


Re: Easy Forex (ezefx.com) by El_KaPpa
[Yesterday at 07:52:41 PM]


Re: Dux Forex by dutchie
[Yesterday at 07:49:50 PM]


Re: Easy Forex (ezefx.com) by 999cjb
[Yesterday at 06:00:36 PM]


Re: FOREX - An Easy Way To Lose Money by equityfx
[Yesterday at 03:50:39 PM]


Re: Who is making money in Forex? by equityfx
[Yesterday at 03:47:15 PM]


Re: Easy Forex (ezefx.com) by El_KaPpa
[Yesterday at 02:51:19 PM]


Re: CabEX by PhiBase by WiZARD
[Yesterday at 02:33:52 PM]


Re: FourLeafClover EA from FourLeafClover FX by Ruairi OPleurisy
[Yesterday at 02:22:38 PM]


Re: Easy Forex (ezefx.com) by Ruairi OPleurisy
[Yesterday at 02:04:54 PM]