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    Thread: Thread for Newbies "How to Start Trading?"

    1. #9551
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      There are many trading methods that work.We just need to find something that suits ur personality. 1st step is to create a trading plan that proven atleast 3 month. run it in demo or cent account. 2nd step is risk management. find a good risk and reward for ur entry. 3rd step is record all entry and summary all ur entry in the weekend and improve ur trading plan. 4rd step target to consistent every month. then u will be a good trader. plan your trade and trade your plan..


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      Basic understanding of the forex market is very crucial for all new members who are coming into the business afresh, you must have the proper understanding of the business you are venturing into, i think it is not enough to come into any business based on what we have been told about such, but we must personally possess the understanding of the business, this is one of the greatest reasons why many people failed in business and in life too, education is very important and proper orientation too is needed as well.


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      Know the business- Practice in demo account- Invest a small amount of money first and start real trading. This should be a way for a beginner to start a trading. Read business news/article regularly- Develop your analytical power and use it for trading- Your success rate will be high. It will be helpful for a beginner to invest by the trends.


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      Before you start trading you should know what is forex and how it works. For this you can use babypips as a trading school and it will give you lessions step by step to become familiar with forex trading.


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      You said it all. Forex trading requires a lot of learning. If you want to make forex a career, then learning how the market operates is the first step. Developing a trading strategy is another then investing a small amount that you would be comfortable with incase it did not go the way you want.


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      The mistake most aspiring forex traders make is they consider forex to be get rich quick scheme and end up blowing their account in few days. Forex trading is a serious business just like any other business and requirs dedication, patience, knowledge and hard work to succeed. Many also forget one of the most important rules of forex trading - never risk money you can't afford to lose and end up impoverished.


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      Quote Originally Posted by bayjid View Post
      Before you start trading you should know what is forex and how it works. For this you can use babypips as a trading school and it will give you lessions step by step to become familiar with forex trading.
      Yes it is 100% paramount that a forex trader who has plans to join this business has to do so by first learning it, The knowledge gained forms a positive advantage for such a trader. A trader needs to make sure that they are well skilled through personal gaining of direct Forex Market knowledge and experience.


    9. #9558
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      Hi bro-
      Don't put any money to your real forex account for trading until you are enough experienced with demo trading. Demo trading will make you perfect and experienced, also give you the confidence for trading with real account. So it's very much important to trade with demo account for enough period of time to get the confidence. Thank you everyone.

      ---------- Post added 07-11-2017 at 12:40 AM ---------- Previous post was 07-10-2017 at 04:51 PM ----------

      If you are a beginner here at forex, try your trade with demo account until you get enough confidence over forex market before you open a real account to invest. Also learn as much as possible reading forum or other resources. The most important things is - everyone need to keep patients. Without it, you can get loss. So keep patients and minimize the loss!

      ---------- Post added at 05:27 PM ---------- Previous post was at 12:40 AM ----------

      It's little bit confusion that the demo trading is different than the real account trading. I'm till now doing the demo trading actually- sometimes getting confidence about real trading but sometimes it seems that, may i need to know more about market analysis. Studying from the forum post, i think i need more practice over market to trade on forex. Thank you for sharing...


    10. #9559
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      I'm so much agree with you bro! After investing money, a person told me to do demo trading and sometimes take a real trading when i will be confirm about the market movement while he wanted to help me about some confirm trading. So, as i understand, we should know better about forex trading and then to invest money in real account.


    11. #9560
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      Actually i think there is no time frame to practice with demo account. As long as you will trade with demo account, it will give the confidence about trading. You are the referee then to take the decision whether to trade or not because of your confidence analyzing how many trade you had in your favor. It can take you three months or six months or even longer...

      ---------- Post added at 10:46 PM ---------- Previous post was at 10:38 PM ----------

      Thanks for sharing the true things. I think nobody should open an account and start trading on forex influenced by any person. Because, i think, the person who want to trade should have self strategy to trade, should know about market movement. It's not so easy but anyone can get profit from forex but need to know about forex properly.


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