My Advice for Beginners - Page 2
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  1. #11
    Join Date
    Mar 2006
    Location
    Babypips, USA
    Posts
    534
    Newbie Island This forum is for Forex beginners. If you are new to the Forex and have a question, this is the best place to ask it.

  2. #12
    Join Date
    Dec 2006
    Location
    Colorado, USA
    Posts
    142
    You need to come up with your own trading system and rules and live by it. This means you have to backtest your trading system using demo account and not rely on other people's numbers. Remember - its your money.

  3. #13
    Join Date
    Dec 2006
    Posts
    11
    much of newcomers failed in their earliest stage because they lose so much money, and lost faith in forex trading.
    first thing to do is to study either fundamental or technical step by step and enjoy what you're doing. at least that's what ah'm doing for this past year.
    i used virtual money, and treated it like the real one. it's funny when i felt depressed when i lost the virtual.

    also remember to note every single trade you make.
    when you see your performance increased, and you constantly profit every month, start with real money.

  4. #14
    Join Date
    Sep 2008
    Posts
    7
    As a beginner I ask you, how much time I have to practice in my software?

    Thanks

  5. #15
    Join Date
    Aug 2008
    Posts
    12
    Practice trading. Software isn't going to much help.

  6. #16
    Join Date
    May 2008
    Location
    Newport Coast, California
    Posts
    143
    Trading is not easy.
    Don't ever start thinking that it is.
    It will kill you and it will kill most
    people even before 3 months is up.
    Follow the rules set forth by experts.
    Do not scoff at it. Why? Because you
    know nothing! Calculate risk and lot
    sizes using simple calculations not
    convoluted risk reward ratio S/L
    value setting BS nonsense!!!
    Meaning if you are risking 1% and
    trading mini, divide by 50. If on
    standard, divide by 1000. You hear
    it over and over; KEEP IT SIMPLE!!!
    Dealing with psychology is hard enough.
    Keep mechanical aspect of trading especially
    selecting lot sizes and risk SIMPLE !!!
    I laugh the hardest when newbies come
    in here and show me heir risk reward lot size
    picking calculator. What do they end up doing?
    Yep, just end up risking too much on their
    trades. And they always scratch their heads
    when they blow up their account. Forget that
    risk reward ratio lot size calculator!!!
    Simply get the percentage and divide by 50 for mini
    and divide by 1000 for standard!!! Because if you
    use that convoluted risk reward calculator, you will
    end up risking 2-3 times more than you should. That
    calculation sucks you in by showing you the reward
    potential; it never shows you how much you are
    risking and how much you will lose.

  7. #17
    Join Date
    Sep 2008
    Posts
    5
    Hello I am new in the forum and I am looking for a good minute to minute indicator, does one exist?

  8. #18
    Join Date
    Sep 2008
    Posts
    69
    I found myself in a situation where the currency has been sold from my side, with the aim of buy it back at a lower price to make profit

  9. #19
    Join Date
    Sep 2008
    Posts
    12
    I was just marking todays pivot, resistance and supports and I erased a line I didnt need from two days ago when I did this all my lines I had marked were erased. Is there an undo button or a way to mark the S and Rs easier?
    Attached Images Attached Images  

  10. #20
    Join Date
    Sep 2008
    Posts
    21
    Those are very good, but I got some if you want to see what is happening every minute , get a software. Im using Metatrader. Its good.
    Reading a lot. Get some dictionaries so you can help yourself with definitions.
    And the patience can to be your best friend

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