5 Tips for forex beginner

Discussion in 'General Forex Discussion' started by alonevivi, Jul 29, 2011.

  1. alonevivi

    alonevivi Trader

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    1. If you don’t have much capital, forex is the ideal form of investment.
    2. If you have too little capital, you’d better not trade at all.
    3. Love the market (one forex tip that says it all)
    4. Very important forex tip: trading at high level requires a good knowledge of the market.
    Not even the best trader in the market gains all the time.
    5. Forex market is extremely volatile. For this reason, timing is essential: knowing when to start, stop or pause is a crucial to gain money with forex.
     
  2. jen

    jen Trader

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    Well done, especially Point #4. The best traders are the ones who have patience and persevere, unlike the nervous and impulsive rookies!
     
    artfor likes this.
  3. CortneyWilliams

    CortneyWilliams Trader

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    We could put in patience in between 3 and 4 because it's one of the most important things to have for a trader.
     
    artfor likes this.
  4. JSDans

    JSDans Trader

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    Thanks for the great tips! I would definitely say #5 is a crucial point!!
     
  5. xSPACECOWBOYx

    xSPACECOWBOYx Master Trader

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    1. If you don’t have much capital, forex is the ideal form of investment.(you have got to be kidding me. No capital no trading simple as...get a job in something you can do.)
    2. If you have too little capital, you’d better not trade at all. (More like it. too little capital, you’d better not trade at all (quote) if you have problems with no.1 revert to no.2
    3. Love the market (one forex tip that says it all)..Don't quite get this tip but ok i can go with it for now. I like the love bit...
    4. Very important forex tip: trading at high level requires a good knowledge of the market.
    Not even the best trader in the market gains all the time. This part is true, pat on the back.
    5. Forex market is extremely volatile. For this reason, timing is essential: knowing when to start, stop or pause is a crucial to gain money with forex. Now your blabbering,i mean what is this all about.
    I'm sorry to be the one to say this but somebody has to , it just makes me chuckle every time i see this thread. Anyway once again truly sorry keep up the good work.
    XspacecowboyX....... all the best with your knew tips
     
  6. tanyacromwell

    tanyacromwell Trader

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    Currency is the main part of the forex and changing currency for a verity of reasons. There are risk some factors to stay in this business but here you have posted some useful guideline for the beginners.
     
  7. DonnaMag

    DonnaMag Trader

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    Thanks for the tips! I can always use some new tips!
     
  8. upshotsignals

    upshotsignals Active Trader

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    Knowing when to stop trading for the day or two, that's a big tip!
     
  9. Forex eBook

    Forex eBook Trader

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    Thanks for tips and great forum!
     
  10. KatbatM

    KatbatM Trader

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    Make sure to have a lot of discipline, that's the advice i keep getting!
     
  11. Abrahame

    Abrahame Trader

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    These are great tips for beginner.
    Thanks for sharing these are very helpful.
     
  12. Andrew101

    Andrew101 Active Trader

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    Nice tips newbies should abide by. I especially like and agree with #4. To be successful in this business, the accurate knowledge of Forex is needed. Without it, you'll be filling brokers pockets with your money.
     
    Wize Ngubane likes this.
  13. Mark Fahad

    Mark Fahad Trader

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    We the traders who are particularly newcomers have to choose in regulated trading brokers which guarantee their clients funds. Because only regulated trading brokers make sure security of funds at any deposits with a wide range of trading technologies.
     
  14. Alexfx79

    Alexfx79 Active Trader

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    Sometimes even regulated brokers have problems (remember Alpari UK), so it's better to look in complex.. Regulations, liquidity provider, reviews and feedback, trading terms, etc
    It's like choosing a bank for deposit. Sometimes the service is important. Any little detail.
     
  15. Gerrard Hank

    Gerrard Hank Trader

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    For beginners, to succeed in Forex, you must have an effective trading strategy. Your method or strategy to analyzing prices and making decisions about when to trade and when not to defines the type of trader you are. The simple way to determine if your trading method is effective or not is to demo trade it for some months and then see the kind of results you'll get.
     
  16. myfxpt

    myfxpt Master Trader

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    This is the simple way and only safe way to determine strategy effectiveness.
     
    Mike_Wah likes this.
  17. wisetrada

    wisetrada Trader

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    Let me share a tip here. Psychology has a lot to do with the success of a trader as his technical abilities. But then emotions like greed and fear can be controlled in an open position with a well mastered trading system.
     
    Mike_Wah likes this.
  18. Alexfx79

    Alexfx79 Active Trader

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    Sorry, but where is your tip? Maybe you would write how do you personally control those emotions? What is well mastered trading system for you?
    I think, temperament is the key to coping with psychological problems. I think that people with unstable emotional sphere will not be able to solve the problem completely. Of course, you can prove I'm wrong. I'll be glad to participate in the discussion and in making up some really useful tips for beginners (as theme of this thread says).
     
    Mike_Wah likes this.
  19. buldy

    buldy Trader

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    I really appreciate tip four, the earlier we realize that we can lose sometimes the better for us. It will help us to think straight and move on with our trades after learning from the mistake we made.
     
    Mike_Wah and FrankBurryHD like this.
  20. Andrew101

    Andrew101 Active Trader

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    Valuable forex tips for beginners would include not letting the forex control your life. Rather, be in charge of your life. Don't stare at the computer all day and all night. Always have a trading plan, have money management plan, set price alarms, and be aware of when important news items are being announced on the news calendar to minimize time in front of the computer.
     
    Mike_Wah and FrankBurryHD like this.
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