Good day!
I am just a newbie trying to study forex…
My first question is can i lose all my money here and why? Forex is about trading money right? if i traded for USD / JPY HOW CAN I LOSE all my money… Worst case scenario USD price drops sooner or later it will rise again and i can regain my lost money right? Please correct me if i am wrong.
How much is the best starting invest for me with minimal risk and high profit?
Anybody please help me…
Wow sounds like you have everything figured out, but here’s an idea.:45: . .why don’t you register with the school on this site, before you ask questions or spend your money, maybe you could answer some on your questions.
Traders would love to tell you the secret investment advice so you can trade with minimal risk and make high profits and I guess you want to do it in the shortest amount of time possible? Ya I see it now. It makes a lot of sense, to the traders some who have worked day and night to learn how to be successful, lost money, made money building a strong foundation; Spending hour after hour looking for answers to learn how to trade Yes I see how traders might what share their hard work, so you don’t have to do any.
Successful trading is about, putting together 3 things. that work off each other. To get those three things to work together so long term, you put the balance of probabilities for success on your side. To have a chance at being successful trading currencies you have to have a strong understanding of the basics before you can race. First you have to crawl, then walk, then run [U]and then race[/U]. you will have to have a strong understanding of the basics that starts with crawling.
Crawling involves going through pip school to learn and practice so you will come away with a good understanding about the forex.
Walking means, open a demo account and practice, practice practice. You’re trading platform can do lots of things to assist you abd make the job easier. Keep use your demo to practice and experiment with the right proven things. Do’ t be looking for riches and fame at this point, this is about getting your trading plan together and seeing how each of the three things come together.
Now it’s time to run. You have a complete written trading plan, keep it beside you to reference. Next you want to take what you’ve learned and apply it in a small account. If it were me it wold be 25% of the total bankroll you have to invest. Using Patience and Discipline and a strict of rules you created, Apply , use the right money management plan to build capital and protect you starting capital,
Now it’s race time. You have a trading method that when applied by the rules will put the balance of probabilities for success on your side. A money management plan that will allow for short swings in the market, looking to preserve and build your account balance and the patience and discipline to see it through and if you stumple along the way like most of us, get up brush yourself off review so you will make the same mistake the least amount of times. Hope that helps
Gp
Excellent… Rightly said… Newbie please follow the 1… 2… 3… But it takes time… Dont hurry if not u will lose ur money…
Babypips school is VERY helpful. Try it.
Hey there! Start with understanding the forex basics first and how many can be made/lost: School of Pipsology | Learn Forex Trading
Well the drawdown is limited by your deposit and stop out level of your forex broker (for example Hotforex, where I trade, has 10% SO level) the more the leverage and lot size you trade the less is time your open position can withstand unfavourable swing. Note that you can open micro or nano lot position and hold position for month or more with even 500$ deposit but your profit after the price has travelled that long way will be very small (remember about swap charges as well)
Thank you for the advice… hope to make some money soon after reading things and trying the demo account.