So I wrote a “Hi” introduction, no answers…
Oh well
I’ve just started, and I found this broker trade24. They seem nice enough, and I spoke to their customer service once so far. They were nice
Gave me a good feeling so far.
Cheers!
So I wrote a “Hi” introduction, no answers…
Oh well
I’ve just started, and I found this broker trade24. They seem nice enough, and I spoke to their customer service once so far. They were nice
Gave me a good feeling so far.
Cheers!
Hi and welcome to the community. Is this your 1st time trading?
Hello Jenny
Welcome to the forum. Plenty of information and helpful people here.
Do share any knowledge or experience you have, as we all try to help each other here.
Hi Jenny! Sorry about the late welcome, but we’re glad to have you here! How long have you been trading?
Wow, that was a warm welcome
I tried a long time ago and now im back again. I don’t really know what experience i can contribute with, im a complete newbie compared to you guys, so im just happy to learn from whoever knows
Basically im using trade24 to feel my way around forex, and then when I know the tricks i might move on.
Anyone knows of a good system i can use that will get me up and running quickly?
Thanks so much guys
Up and running quickly works well for blowing accounts. I may be wrong here, but mentioning a broker in your second post which added no value to the discussion seems a bit like a marketing attempt.
Hi Bear
Or i was simply telling people where I trade, so that I can get feedback.
I don’t know about marketing, and I don’t really care about it either.
Do you have a better suggestion how I can get feedback about my broker besides mentioning it?
Telepathy?
Welcome to Baby Pips, I can recommend you to try with PaxForex also, they have very good trading environment.
Are you looking for a purely mechanical system or somewhat discretionary? I suggest you check out the 3 Ducks System (moving averages, multiple time frame analysis) or the Amazing Crossover System (moving averages, RSI). Best of luck to you and see you around!
Hi PipDiddy.
Thanks! I found a page here on babypips, but I couldn’t include a link to it (this would be my fifth post I think)
I will absolutely check it out
Thanks so much
Can I ask something?
How safe is social trading? I mean, do I just pick someone and follow him?
From what I gather, I get reports of his/her trades, and then I can copy them if I want to, right?
I mean, it’s not automated…right?
Hi there. I cannot say that i’m a totalnewbie, but surely there’s pretty much to learn yet. School of pipsology is just great! It helps to understand what it takes to deal with FX and have fun at the same time! If I had known about this “school” before my first trading, I would have started my FX challenge with these articles. They’re awesome!
In general, “unsafe”.
This thread may perhaps help you a little more: [B]301 Moved Permanently
You [I]can[/I], but doing so successfully requires quite a lot of knowledge and experience, [I][U]especially[/U][/I] of the many “tricks and traps for the unwary” and the methods by which the traders wanting followers present their accounts and information in ways designed to make it look very much safer than it really is. For the inexperienced, it can be a real minefield. In practice, it’s pretty rare for the top-ranked traders to be the safest to follow.
They vary. Some are, others aren’t. But you can nearly always subscribe using a demo account, I think, and then decide for yourself whether or not to follow the trades in a real-money account. But be aware that many of the trades typically comprise things like “averaging down” and “grid-systems” designed to make the overall “closed trades” figures look better. There are [U]many[/U] parameters to check out, and you really do need to be familiar with what they all mean, how they’re defined and measured, and what they’re [I]actually[/I] telling you. Apologies for the “cautionary tone”, if it’s discouraging, but accidents are very widespread indeed, and you really [I]do[/I] need to know what you’re doing, with these things.
Hej …
“Safely” is much better than “quickly”.
There’s one here you might try, if you want to, and if it suits your own circumstances/availability/aspirations etc. etc.: it’s particularly good for familiarising yourself with the patience and discipline required for any kind of successful trading. Good luck!
Thanks for the positive feedback on our School!
Yep, that’s the idea. You can choose which traders to follow or the software will show the ones that are doing well and you can decide whether or not to copy those trades. There are platforms that offer automatic copy trading and I wouldn’t really recommend those since it won’t equip you with skills you need to learn how to trade on your own. I guess social trading could serve as a good guide for newbies who want to watch and follow how other traders are playing the market.
Understood So I should basically lay down the effort to trade by myself and then I can use the social trading as a “reference” by looking at the more experienced traders just to see that i’m on the right track.
Also, lexys’s mentioned demo account. I have experience in casino (yes yes I know that this is FAR from it) but there when you open a demo account they always pay out to your favour so that you will start playing. Is there any reason why i should suspect that forex traders do this as well?
Sorry for all the nagging questions
Hello Jenny…
Well, I could not possibly make any better comments or give better advice than the wonderful Lexy
and PipDiddy, so I will limit myself to say that there is no difference in demo, and no ‘false treats’
in store to lure you in!
The only difference may be in the quality of the price feed in the demo account, as, obviously,
it is true to the live chart but it is sometimes said that there can be a delayed response, especially
at times of heightened volatility (e.g. news releases), in a demo chart…
However, I trade live and demo on the same broker and I can say, hand on heart, that the differences
are unnoticeable to me…
You should definitely consider starting a demo account with the smallest amount you can (FXCM
for example offer you both a $50,000 and a $5,000 demo account), because if you want to trade
a small live account and you are playing big shots on the demo account (say 200k positions) then
you may find your calculations and risk exposure a little bit difficult to translate into the smaller
live account…
Thank you pipmehappy
I think that i’ll take a break from trading and go for some demo trading
Wow, that’s a long thread with alot of information! I think that I’m going to read this one!