Please Help A Beginner :(

Fxpipper

Master Trader
Oct 26, 2011
1,132
3
49
Wondering about the same thing..it would have been great if the poster had replied..guess we just have to play "Guess the motive.."
 

xProphet

Active Trader
Jul 27, 2013
64
0
27
Occupying Wall Steet.
Hi All,

Trust you ll be fine. I am new to this forum and so as to Forex. I am running a 10,000 demo account and already lost 300 (0.10 Leverage) in about 5 days. I did make some profit but at the end its the bad trades who won no matter what I do and how cautious I become. Its like they are spying on me lol that when I buy a pair it goes down and down and down and when I sell a pair it goes up and up!

I am an IBS patient so I want to do Forex Trading for a living in the comfort of my home. Can you guys please suggest me some basic steps I need to do? I mean I dont know when to buy/sell. Most of the time their is up trend but suddenly there is down trend and so on. Please suggest me what steps should determine to buy or sell a pair? Also do things like Expert Advisors, Forex signals work? I used some of the free signals but I lost due to that.

If there is some paid service which can help me to guide me to right direction I ll be happy to pay for that but I dont know what to do and where to start.

Please help a brother out.
Thanks!
I use to make the same mistake when I fist started. (If it is the same mistake) You're watching the price or a chart, you see it starts to bounce up and wait, It moves up more, and you start to think, "this might be a good trade but ill wait to see it goes up a little more." The price proceeds to move up even more, then you start thinking its a great trade (time to get in). You enter the trade and bam! The price starts to dip, You start thinking you were wrong but, "hey they go up and down all the time". meanwhile the price keeps dipping until you reach a point where you think it may not come back up? You exit the trade for a lose. (Maybe even immediately switch to a bearish trade and go through the thought process again.)

I think Emotional control and a method to analyze your pair, that you have confidence in would solve your problems. All the basic stuff traders like to shove down your throat. :D(For a good reason though, because it works.)
 
Last edited:
Jul 31, 2013
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0
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Hi Kashif

I'm new here but have some experience in this area. First off I doubt your broker would be doing that to you in demo mode. If you were signed with a disreputable broker they'd at least wait for you to trade live before switching things up on you. Demo is like an advert for their services.

Now as far as signals go I'd avoid them. It's a whole industry nowadays but the promises are rarely if ever carried out. If you had a winning formula would you sell it to random newbs or use it to make yourself rich?

EAs are a different story. If programmed correctly they can work, and can be more sophisticated than a beginner's own strategy. But, and it's a big one, if you get on the EA bandwagon now you will never learn. I say put the hard work in mate, learn to trade on your own, and then when you are confident you've developed your own strategy that works for you, you can formalise it but making your own EA.

Good luck and happy trading.
 

michael77

Trader
Aug 5, 2013
89
0
17
This is good to hear that you are practicing demo trade as there are lots of newbie who like to come to Forex market without practicing demo trade. If you are loosing on consistent basis then it is obvious that you are doing same mistake over again and again. Just try to find out those mistakes and if you can't then my personal advice to you that you should ask someone expert in order to find out your mistakes.
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
22
32
Canada
This is good to hear that you are practicing demo trade as there are lots of newbie who like to come to Forex market without practicing demo trade. If you are loosing on consistent basis then it is obvious that you are doing same mistake over again and again. Just try to find out those mistakes and if you can't then my personal advice to you that you should ask someone expert in order to find out your mistakes.

Demo trading is not doing you any good, almost all newbies do that and think they learn how to trade and gain experience which is not correct and one reason for the high failure rate.