New to forex, can you help please?

tezmay

Trader
Dec 13, 2011
2
0
12
Hi I've just recently decided to start trading forex and was wondering if anyone could offer any trading tips on the best strategies to use and also recommend a good broker for beginners?
Many thanks
 

tezmay

Trader
Dec 13, 2011
2
0
12
I am reading up on forex and getting to grips with it slowly, using several resources available to me but i will also try the newbies guide you recommended, thanks enivid :)

Easy trader, could you recommend a good broker that offers a demo account with good customer service as i imagine that i will be contacting them a lot for help :)
Many thanks
 

Easy Trader

Master Trader
Sep 17, 2011
240
5
59
With a demo there is no need to contact the broker. You can use a search engine and download one or two, pick ones that seems to be the most popular. I personally don't make broker recommondations anymore, its a traders job to excersize their due-diligence. I can tell you I use FXCM and Alpari, and have demo traded with tons of others. You can always open new demo accounts.
 

devis77

Active Trader
Nov 8, 2011
39
4
34
As easy trader said, for the demo the broker is not that important. Look for some broker with MetaTrader 4 platform and open a demo account. Some of the leading brokers have their own platforms except MT4, which are based or close to MT4, so pick 2 or 3 leading brokes and test them. See which platform is more easy to you and suits you best. I suggest to read forums and discussions and make your own moves based on analysis and news rather than some automatic software. Once you start 'winning' on your demo account, you will have gathered all necessary experience to find your broker by your own and start trading with real money.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
4
49
Do the demo, all brokers offer demo accounts and should you come across one without the demo, run for the hills. Start with small steps, do not rush in and remember, most of the info, edu resources listed by your broker will not be complete.
In other words, you will have to take the initiative to learn more about Fx and seeing how you've made your way to this forum, nicely done!
Good luck and check out independent reviews on brokers. Do not join up just 'cause someone recommends broker X..
Happy trading!
 

mingbao

Trader
Dec 6, 2011
30
0
17
if you are new to forex, first be ready to study. it taks time to be professional from novice. study the techniques, study how to analyze the market, study to develop your trading strategy. Make reasonable expectations for profits. I am using Hotforex, i'm satisfied with it, I think you can open a demo account there to have a try.
 

Haley12

Trader
Sep 21, 2011
34
0
17
www.avafx.com
Yes, there is no best trading strategy. One strategy may work for one but it is not compulsory that it will work for all. All prominent brokers are good for newbie even I prefer to AVAFX.
 

1pipatatime

Trader
Jan 4, 2012
24
0
17
Melbourne
I would be doing a lot of reading and going to sites that give away free info/courses and learn as much as you can.

If you have the option I would even look at getting a mentor to guide you through your new chosen path.

Some sites even have a free personality test to see if your suited to trading or even give the area's you may want to work on.

Cheers
 

pipbanker

Trader
Jan 6, 2012
12
0
17
The most important recomendation is this:
1. TRADE ONLY DEMO
2. DEMO
3. DEMO
4 TRY MICRO AFTER YOU DOUBLE YOU DEMO
 
Dec 5, 2012
15
0
0
If you are beginner then you should learn about the how to trade in forex market otherwise you have maximum chance to lose money. Take a close look at how trading occurs by reading article or blogs related to forex trading.After learning you can start trading with small amount of money to test your expertise and day by day you can increase your investment amount on trading as your experience in trading. Then You will be a successful Forex Trader.
 
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Fxpipper

Master Trader
Oct 26, 2011
1,132
4
49
And one more note, just remember the fx market is not an atm machine that you can tap into..simply put, you need to trade well in order to earn those pips. Yeah, its hard work but worth the effort..good luck!
 

inggo

Banned
Jan 13, 2012
498
12
59
Philippinese
Hi I've just recently decided to start trading forex and was wondering if anyone could offer any trading tips on the best strategies to use and also recommend a good broker for beginners?
Many thanks

school of pipsology is a good place to start and its free (google it) you get the basics from there, stick with demo never trade live untill you are sure about your working strategy and you have spent enough time on demo. when choosing a broker just open demos with a couple of brokers and check out there reviews and feedbacks stick with their demo and compare them if you may,

its hard to recommend a broker since not a lot of us have traded with lots of brokers, though currently im also with hotforex. best of luck
 

capsmart

Active Trader
Dec 11, 2012
38
0
27
Kos island, Greece
I would suggest that you focus on Price Action. Search for it on google and read as much as you can. Then demo trade on larger time frames like 4h charts or daily charts.
 

ziegler

Trader
Nov 30, 2012
15
0
17
There are no brokers for beginners. Every broker offers demo, search for broker with low spreads, low commissions, helpful support to consult. And start getting experience.
 

Rob Taylor

Active Trader
Oct 14, 2012
131
2
37
UK
www.tradeforexmakemoney.co.uk
I would suggest that you focus on Price Action.


I will go along with that. The most important thing in Forex trading is the price. When you have a complete understanding of price action, Forex trading is a breeze. :)
 

krecex

Trader
Oct 8, 2012
72
0
17
Learn the basic knowledge of Forex. You might get the information from E-books and Videos. Try to create a demo account. Keep practice until you are able to minimize the lost. Happy trading.