[B]Hey all, I m am very new to this trade. I just started my practice sesson. But I lost US$ 5400 on my secont trade. I am lost that may b I did not know how to trade & when to trade. Can any one help. I ve read most of pipsology preschool sesson but did not get any help. Lookin 4 n freinds here. bye. [/B]
Good day Ananto7,
I strongly encourage that you study up the rest of the grades in pipsiology to increase the percentage of getting profitable trades as the information there are incredibly helpful.
They are like the basic fundamentals. Preschool merely touch the surface of what you are going to dive in.
My word of advise;
Be patient.
Best regards,
Nivka
Hi Ananto7, If you are new in trading then losing money should not be new thing for you. Number of traders have been lose their money at starting of trading. You can try dailyforex for trading tips as well.
Hi Ananto,
Start right from the door, look into price action.
YouTube Nial Fuller, and spend the entire day watching his videos, take notes… Then start next week fresh…
This is the best advise for a new trader, as its the correct way to trade…
Also, Start small, your demo account should be no more then $1,000 and your leverage should be no more the 50/1
When you double that to $2000, start over, then do it again…
Hi…noob here…what technique would anyone recommend for someone with a start up capital of around £500-800??
Fx can be a tad overwhelming, esp when you take into account the various factors that can move the pips along. I would head over to the pipsology and review the info until you’re sure you have got it down pat. FYI, no one’s going to come and mentor anyone for free…and if after the review session, you’re still not sure you can always opt for managed forex accounts…something to think about.
Good luck!
southsydah, just like what most the guys said, do not go live, start with practice accounts and as much as possible finish pipsology school! that way you get all the basics, and during practice you will understand more, and create a strategy/system that would suit you. do not rush it and avoid falling for what most new traders do, 
and best of luck. studying might be time consuming but its really worth it in the long run
well, to be honest, you might want o concider even a small deposit, even if around $50 and low risk, there is a fear factor you must concider when you do actually go live, and its best o nip it in the butt as soon as possible… You can demo fake money for so long, then you eventually have to get your feet wet, if its something your passionate about, and want to do this as a career.
Its not something most enjoy doing, and you have to LOVE this game, to be profitable.
Everyones expectations are differant, the time you invest is differant, but in the end, its Who really wants to take the world on, and be wealthy in the process.
I, Personally, wont be retiring till I hit $2 million a month, but thats just me, I dont set the bar low,
Best of Luck,
Some great advice here. I would also check out educational material from Chris Lori and Sam Seiden. Once you learn a trading method, be sure to backtest it to be sure you understand how it works. Then trade a demo or very small live account to get more experience. This will be a lot cheaper than trying to trade without education.
Thanx a lot
Back to the drawing board…paper trade, demo trade…read read read. If possible find a good mentor or friend…that is willing to help you. Don’t spend too much money with expensive programs claiming they can teach you their no loss trading system…alot of these guys don’t know the difference with “bid” and “ask”. depends on how fast you learn you will get there…but it is not gonna come overnight.
Trading is a nightmare, think of the worst job you have ever had and multiply several times. Trading will emotionally test you to boundaries which you never knew could be reached, and if this fails then you will be cracked. Just when you think you have the answer you will be thrown another curve-ball testing your ability to respond and change. Anyone who ask me about trading…I tell them to run a mile.
Would you mind if I put that on my first page of my book?
Seriously, thats a grabber…
Lol it’s not for everyone… To do this… And enjoy it… You’ve got to have determination, slightly above average intellect, stubbornness, and emotional steadiness… If you lack any of these you will not enjoy trading, or be any good at it.
phew
*whips sweat from forehead
I think stubbornness and intellect are not required. Maybe stubbornness to keep going when u lose but with that might come holding on to losing trades or not willing to admit ur wrong…and why above average intellect? Nothing about this is hard to learn just takes practice and patience.
Just like some other careers take above average intellect… Engineer, doctor, rocket science… Etc. Yes it may be politically incorrect to say some people may be held back because of their intellect… But it is true.
You don’t need to be brilliant… Just above average.
And I don’t mean you need it to enjoy it as a hobby… But to legitimately do this full-time as your sole source of income and draw in $100k+ annually, you will need an above average intellect.
I am not saying that if you aren’t doing this successfully then you are below average intellect either…
You don’t NEED above average intellect it just helps. People aren’t help back because of their intellect they’re held back because of their motivation. Work ethic will get you alot farther than intellect.
We will agree to disagree 
I have never met a successfull fulltime trader of below average intellect.
There is a huge difference between doing this as a hobby, managing a few thousand dollars, and entirely different at the next level.
How many have u met and did u give them an IQ test? Are u sure their intelligence was the key to their success or their time put into it? I know it helps and will speed the process up but I don’t think it’s the be all end all ingredient to things just a booster. Anyway I can agree to disagree not trying to argue or make drama just giving my experience. How old are you banker? Completely honest here a few years ago I thought like that. Then I had a few experiences that changed my thinking. The real kicker is getting intelligent people with a strong work ethic that’s a killer combo those people will go places. Maybe I was right in the first place lol.