I am Absolute beginer here in forex trading? Need your Advice - page 2
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In my first trade, I trade with demo contest,
my friend suggest me to participate in 999 demo contest,
he ever won in those contest,
good way to make practice while we get the chance to win the real prize.
as for pairs the major once are profitable if you know how to deal with them
as for books you can find a lot but I recommend you to open a demo account first before to read any book you should practice what you read you know
hotforex is a broker that offers a great demo account with great features so open one with them and play with demo money until you feel you can trade
and there is no way you would always make profit unless you are a well experienced trader amazingly skilled and lucky )
Demo contest is the best way to make practice without worry to lose some money,
beside that we can get the chance to win the prize.
I agree with you al because after all demo contest is part of the trade that make it possible for them to get a better trade with experience in the trade that you have and this will make you more motivated to continue to add to the experience.
yes two months back i joined in a demo contest of a reputated forex broker but my experience is not too good .as a newbie i had to compete with the experienced forex trader - expert trader and as a result what was supposed to be that happened on my forehead.i lost partially my capital in demo contest
Yep, using demo account is the best way for newbie to learning the tools and trading system. And followong the demo contest become better to get the chance to win the prize
I have participate in 999 demo contest bro, but I cannot beat a lot of good trader there and my trading skill doesn't enough, so just take the chance to get place to make practice to my trading skill.
I guess its a bit hard if you are a total newbie that knows nothing about forex, nothing about mt4 and nothing about brokers, here is the best thig to do
1. go to babypips and start SCHOOL of PIPSOLOGY, I think thats the best basics you can learn online. and its free
2. start toying with metatrader4 or MT4 platform to be familiarized with its functions, check youtube for quick tutorials.
3. after you are done with pipsology go through it again and this time try some trades on you MT4 demo account (most brokers offer a demo account so do not hesitate to try any of them) go for well known brokers(hotforex, alpari,oanda.. etc)
4. learning in forex will take you years, do not rush with real money, stick with demo, go to forums and ask ask ask not matter how silly the question maybe.
5. from there you will make your way into understanding different styles that would suit you and some day create your own. best of luck
You should follow some basic forex trading rules to make profit in forex trading. I learned forex trading from forex books (Free Download Forex Trading Secrets eBook | zForex), Videos, forex webinars. EUR/USD is the best & profitable pair to trade.
keep practicing with demo account until you can minimize the lost. If you can do this, then you are ready for the real trading. Happy trading.
Before Investment you need to do the research and educate yourself. You can read about the "how market works" from online websites & ebooks and technical blogs. Remember, investing involves money and it will cost you more if you are not careful. Read into each company’s background and only invest if you feel confident in the company
Take advantage of the Internet for your investing needs. There are so many data and resources online available to you at no cost. After learning you can start trading by small amount of money and test your expertise skills & day by day you will improve your trading experience.
Best of luck for Trading
Gurleen Singh
My forex journey started 2 years ago . I et forex knowledge from internet. E books and videoes helped me to know all about trading . Profit is based on your ability to manage trades and risk . We learn this art by doing much practice. experience of trading is the only way to get good profits.