New to forex, looking for advice

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Hi, I'm new to the forex stuff. I've been trading on a demo acct thru fxcm for the past month and have done decent I guess. Are there any good books that anyone would recommend?

I'm also looking for a good broker that offers mini accounts. Best I've found so far has a 3 point spread on the EUR/USD pair.

 

I have not personally read it but I have heard lately thru the traders grapevine that Day Trading the Currency Market by Kathy Lien has some useful information in it. Also anything by Alexander Elder such as Come Into My Trading Room is usually featured in Trader's top 10 lists of books. His ideas work on any kind of market.

jimmyjames:
Hi, I'm new to the forex stuff. I've been trading on a demo acct thru fxcm for the past month and have done decent I guess. Are there any good books that anyone would recommend? I'm also looking for a good broker that offers mini accounts. Best I've found so far has a 3 point spread on the EUR/USD pair.
 

Hi Jimmyjames,

By all means read all that you can and do your best to

come up with your own style.

There are a many tech. indicators and many opinions.

Just take the time to make it your very own.

moneyline

 

new to Forex and MetaTrader

I am looking for some simple EAs that i can pick apart and study. I am a programmer by trade and the environment seems to work well. I created my first indicator today. I want to pick apart some EAs and see what makes them tick with some real history as I go.

I have been working with the Moving Average EA. Could someone suggest another EA that i could study?

Thanks

 
FlatLine:
I am looking for some simple EAs that i can pick apart and study. I am a programmer by trade and the environment seems to work well. I created my first indicator today. I want to pick apart some EAs and see what makes them tick with some real history as I go.

I have been working with the Moving Average EA. Could someone suggest another EA that i could study?

Thanks

hallo , im new in forex, do not really understand about this EA. What actly this EA mean? thanks

just newbie

 

hi all, i new here.

anybody use marketiva? or this site only just for metatraders?

sorry if my question is wrong. anybody can giv me xplanation? thanks

want to learn

 
save_kal:
hallo , im new in forex, do not really understand about this EA. What actly this EA mean? thanks just newbie

EA is expert adviser. It's a piece of program of trading stratigies with function of automated ordering. MQL is the computer language which associates with MT4, allow us to code personalized EAs.

 

If you are a complete newbie to trading you can check out these starter guides for Forex and Futures trading.

They will give you a good general idea of what the markets are about and terminology used.

Also to learn technical analysis you should go over the free school at babypips that will give you a good understanding of things to look for on your charts.

Above all enjoy your trading journey!

 
jimmyjames:
Hi, I'm new to the forex stuff. I've been trading on a demo acct thru fxcm for the past month and have done decent I guess. Are there any good books that anyone would recommend? I'm also looking for a good broker that offers mini accounts. Best I've found so far has a 3 point spread on the EUR/USD pair.

Almost all brokers nowadays offer mini accounts, so you can get a easily find a few brokers that offer mini account. For me, I'm using brokers star since their spread is low and execution is fast enough for a short term trader. Besides, the books I would recommend are market wizards series. You can get it online or get a hard copy from Amazon.

 

I keep telling traders to open a micro account and learn to trade there (or a mini account). Just about every broker offers one who caters to retail traders. Don't waste your time in a demo account.

 
jimmyjames:
Hi, I'm new to the forex stuff. I've been trading on a demo acct thru fxcm for the past month and have done decent I guess. Are there any good books that anyone would recommend? I'm also looking for a good broker that offers mini accounts. Best I've found so far has a 3 point spread on the EUR/USD pair.

I would recommend you Weltrade broker. Micro account from $25. And they have a very good support. Good luck!

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