Tips For New Traders?

Yowsers, I’ve just had a look at Zulutrade.com and you can (if you want to) link your Forex account to an existing trader and mirror his/her trades automatically.

Has anyone done that themselves? It would take all the fun out of trading for me personally I think…people are making good profits there though,but on the same token I bet a lot of losses are being made too! :37:

Cheers,
Simon

My tip is very simple and that is to invest only what you can afford to. The biggest mistakes new comers make is investing too much too early, so unless you are not satisfied with your method or strategy be aware of major investment or else it is not going to take long to lose it all out.

Prepare yourself for hard working. Becoming a successful trader is marathon and not sprint. You ptobably will have wish to give up, but until you do yhat, everything is fine. So basically, gain experience, suffer losses and enjoy profits :wink:

Another tip. All my time in fx I was taught “buy when price is low, sell when high” the other way around works even better. Buy when high, chances are it will go higher. Sell when low, chances are it will go even lower. It does go against the way I have been taught, maybe I was taught wrong.

I am currently doing this, and although it is a bit early to tell, so far so good.

True! I am all for that. Build a strategy, automate it.

I think automate it, and then continuosly monitor it. Since the market is always changing.