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Author Topic: How do i get started?  (Read 5924 times)

Offline JohnT

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Re: How do i get started?
« Reply #15 on: November 09, 2010, 10:54:37 AM »
Can you advise other forums?

Offline dreambig

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Re: How do i get started?
« Reply #16 on: November 09, 2010, 05:36:50 PM »
In this case you should training for a long time. Your manual trading can be profitable after a year on forex.

100% totally agree. Manual trading takes a lot of time to learn and a lot of patience  if you want to be profitable in it. Don't be greedy (money management essential) and don't let your emotions take control of your trading. Easier said than done :) Trade on a demo account at a minimum of 6 months. Finding a strategy that gives you profitable trades overall is a must (duh.) Finding a profitable strategy does not happen over night. And what strategy may work for you, may not work for others. Your 1 profitable strategy that you do discover may work in 1 market trend, but if the trend changes (which it will), it may not work that trend. Which is why 6 months of demo is essential to tweak your strategy to be profitable whichever way it turns. When you find that 1 strategy that fits your trading, stick to it. Don't change strategies just because you had a day of losses. A losing trade day is inevitable, even the best of traders have them.  I do agree www.babypips.com is a wonderful way to start. They lay out things pretty simple for the most part and I recommend going through their school at least twice to get a real grasp of things. I find manual trading to be very enjoyable and frustrating. Don't let the frustration take over the enjoyment and you will do fine.

Offline FXDave

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Re: How do i get started?
« Reply #17 on: November 12, 2010, 10:03:30 PM »
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.


This is an inaccurate and biased statement. Nothing could be farther from the truth concerning certain trading methods but that's another story....

Be honest with the new people.... not biased. ;)

Peace...

FXDave
« Last Edit: November 12, 2010, 10:06:40 PM by FXDave »
"Absurdum est ut alios regat, qui seipsum regere nescit."

Offline chk56

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Re: How do i get started?
« Reply #18 on: November 13, 2010, 12:41:12 AM »
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.


This is an inaccurate and biased statement. Nothing could be farther from the truth concerning certain trading methods but that's another story....

Be honest with the new people.... not biased. ;)

Peace...

FXDave


Perhaps I should have added "IMO..." to my statement, because I was talking from my own experience (I wasn't quoting anybody). So I think, I am not being dishonest, and, well, if explaining my experiences/preferences sounds biased, then be it biased. :)

Almost anything can be seen as biased:

Evolution is biased because it's influenced by a scientist called Darwin.
Creationism is biased because it's influenced by religion.

So, where's the truth? - We could start an endless philosophical discussion here...

I have no doubt that there are many profitable manual strategies, I tried a few of them, but I prefer EAs, because I don't like analyzing the markets and waiting for trade setups. I'm too impatient. I'm too lazy. I don't know much about economy, I tried to learn more, but it bored me to death, and I couldn't control my emotions while trading. I had to find it out the painful (expensive) way, if you know what I mean.

But I do like computers, programming, and making money with just a few mouseclicks, so... EAs are my best friends. And though I have to work my way through tons of crap, there are some jewels out there that work, and searching for more of them is exciting. At least for me. I even gave a hint to where I was pointing to. I'm trying to help new people on this forum, just as others on this forum helped me, when I started about 2 years ago.

Honestly :)

Offline Kristofer

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Re: How do i get started?
« Reply #19 on: July 16, 2015, 10:27:59 PM »
The most important thing for beginners is to find a reliable broker. I often read questions at the forums about broker for beginners. My answer is Freshforex. First of all, it provides a lot of useful information for beginners. Also it offers no deposit bonus. It's great for trading and practise.

Online 999cjb

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Re: How do i get started?
« Reply #20 on: July 16, 2015, 10:48:42 PM »
Quote from: Kristofer link=msg=343527 date=1437082079

The most important thing for beginners is to find a reliable broker. I often read questions at the forums about broker for beginners. My answer is Freshforex. First of all, it provides a lot of useful information for beginners. Also it offers no deposit bonus. It's great for trading and practise.


I have to disagree with you. Even if you have the best broker in the world you won't make money unless you have a winning method.

This could be a manual trading strategy as long as you have the patience to run with it and know what you are doing.

Or it could be an EA as long as you have tested it thoroughly and seen proof of long term backtests and a number of months of live running. At least a year is desirable.

Once you know you can make money you can experiment with different brokers to see which are best for you.

I know many manual traders are more excited about "beating the system" than making actual money and there is nothing wrong with that. But personally I enjoy getting up in the morning and seeing how much money our EAs have made me overnight.
« Last Edit: July 16, 2015, 10:49:08 PM by 999cjb »

Offline hybrid

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Re: How do i get started?
« Reply #21 on: August 12, 2015, 08:19:38 AM »
Reliable broker , Basic trading knowledge and practice are important to start forex trading . You can get start with well known brokers where your amount is safe . . After some demo trading your concepts will clear all about forex business. Slowly you will easily make profits from trading.

Offline Forexrider

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Re: How do i get started?
« Reply #22 on: August 13, 2015, 04:41:33 AM »

For one to get started in the forex trading business it is very much essential that they should gather as much knowledge as possible regarding the market. We also need to develop account management skills which will help us to survive in the forex market.

Offline plamar

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Re: How do i get started?
« Reply #23 on: October 19, 2015, 02:13:55 PM »
Quote from: Kristofer link=msg=343527 date=1437082079

The most important thing for beginners is to find a reliable broker. I often read questions at the forums about broker for beginners. My answer is Freshforex. First of all, it provides a lot of useful information for beginners. Also it offers no deposit bonus. It's great for trading and practise.


I'd say that the most important thing for the traders is a knowledge.
And the ability to ride your greed. Don't let the greed ride you. ;D
Sorry for my bad english...

Offline bruce_knee

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Re: How do i get started?
« Reply #24 on: October 20, 2015, 01:59:49 PM »
I recommend Forex course first - most brokers offer tutoring, there are many private companies that mentor too. Then learning from youtube videos like Al Brooks and Linda Raschke. I do not recommend books- visuals are better

Offline erik.shaban

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Re: How do i get started?
« Reply #25 on: November 02, 2015, 02:06:07 AM »
Use a demo to watch currency trends for a few months before trading.  I pretend like my demo is real money.  Work hard to develop a strategy or find an EA. 

When you make the transition to a live account, use your strategy with small trades.  As I take my account to new heights, I increase my trade size by very small amounts. 

Offline jakesgarland

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Re: How do i get started?
« Reply #26 on: November 21, 2015, 07:06:01 AM »
If you are planning to enter the trading world you must get yourself well acquainted with the pros and cons of the market and how it functions. Unless you take time to understand how the market works you will lose money very fast and very easy. Some of the steps that should be followed are Watch the market, Study material, Plan for the long term and Don't believe everything you hear.

binary options trading

Offline Profitable Trading

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Re: How do i get started?
« Reply #27 on: November 22, 2015, 07:59:37 AM »
Learning and practice. That whats masters great traders.Become successful trader, as difficult as being successful any other job,

Offline dftrader

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Re: How do i get started?
« Reply #28 on: November 23, 2015, 06:20:40 PM »
Find a basis Forex course to learn and don't forget to catch all forex terms, here is a link for you to check A-Z terms:
https://goo.gl/Bq63SV

Offline plamar

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Re: How do i get started?
« Reply #29 on: December 10, 2015, 10:43:21 AM »
Quote from: erik.shaban link=msg=348876 date=1446429967

Use a demo to watch currency trends for a few months before trading.  I pretend like my demo is real money.  Work hard to develop a strategy or find an EA. 

When you make the transition to a live account, use your strategy with small trades.  As I take my account to new heights, I increase my trade size by very small amounts. 

Demo is much different the a real account.
You may see a price movement, but all the rest will differ a lot.
And first of all - emotions. If you think you ready after watching demo a few months, you wrong. It's like to drive a real racing car after training at the children's carts.
Sorry for my bad english...

 

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