Newbie

[ernestngsy]

Hi,

I'm new to forex. How to identify entry chances and how to track whether I'm on the right track? Any suggestion? I did invest in real money couple months ago. And I always fail to enter in right position and been lost a lot.

[balexander26]

One of the first things is to find and follow a system. This system must have entry and exit rules. Have you checked the trading systems section here at the forum?

[danwello]

1. Learn the fundamentals of how to trade forex before you begin trading with real money.
2. When you start trading with real money, start small.
3. Choose your broker wisely.

[goldrush]

Hey - I'm new here as well. Hopefully we can do well together!

[bestforexpartners]

Forex Market is emerging as huge market in the world. It is market where trades participate in the trading of currencies. Being a newbie, your first approach should be to watch and judge the forex market and learn from other forex affiliate doing business here. This will save you from the real traders aggressively participating in the market, but always make sure that you are well efficient in the usage of such systems.

[Providence]

I am new here and really really want to learn forex trading. What systems out there are available? Technical analysis, etc?

[Haley12]

Originally Posted by Providence

I am new here and really really want to learn forex trading. What systems out there are available? Technical analysis, etc?

For Technical Analysis go through this section : http://www.earnforex.com/forum/f7/
For forex trading : http://www.earnforex.com/forum/f8/

There is number of good thread related with forex. It will help you to increase your knowledge about forex trading.

[devis77]

One quick though on the system. Choose your system wisely, based on reviews, comments and your trading style. Then take the time to really explore it and see it's advantages or disadvantages. Do that with a demo. One thing that I learned, switching to a new system every day is not a good idea at all, you will get only confused.
An as always the golden rule for a new trader goes like: Don't be greedy !!!!

[Latinoforex]

First open demo account and try yourself, so that you'll not loose everything in reality.

[saudagar]

You might like to follow these steps:
1. Education Phase 1 - Read up books and websites like babypips.com
2. Demo trading Phase 1 - find out what kind of trader is inside of you
3. Education Phase 2 - Research trading systems specific to your requirements
4. Demo trading Phase 2 - test out various trading systems and different broker platforms
5. Once you have a record of profitable demo trading, go live with 25% of your capital.
6. Increase capital gradually as you gain confidence and regular profits.