View Full Version : where do i begin?
As a complete beginner, just looking at Forex to try to comprehend what's happening, can anyone provide layman terms advice about how to trade.
Posted info...
Will read Associate...
I've more Idiotic questions than you May have Responses to, bear with me and I'll pick up Things as I go
Chris
I have more Idiotic questions than you'll have answers to
try uswe have time to Get a Fantastic laugh
Posted info...
Will read link...
I've more idiotic questions than you may have answers to, bear with me and I'll pick things up as I move
Chris Sure, take away. We will attempt to help.
A lot of your queries surel yhave been answered by previous posts in the forum. We will direct you towards them if desired.
Ok buster...I'll bite...
But I'll say I will not give it to you in layman's terms. I'll provide it to you directly. For whatever that is worth .
If you got here, to this forum. And you're using the term forex. I'll assume that you have a computer, have completed an engine search hey and you got here. Why don't you wander over to the forex mill chosen brokers, select one, consider downloading the free software all of the forex brokers sites will let you for their trading platform. First will be worked at by anyone. They'll be all yelling about how they have the tightest spreads. Which sounds somewhat like you have stumbled onto a porn website.
It is free and they provide all kinds of things to read on those sites at no cost. When you dload the software open it right up and whoop there it is. It is feeding live quotes . Read tutorials. There so much things you can read until you ask a general question like
As a complete beginner, just studying Forex to attempt to understand what is going on, can anybody offer layman terms advice about the best way to trade. Trade your ass off on a demonion it doesn't hurt a thing. In fact you understand. Open charts look at them. Go to the'chart' segment in this forum and look at the postings there to see what other people do to their charts. You can read for days without ever asking a question and get nearly all your questions answered. Then probably still have one you wish to ask here. If you ask it I think someone could try and answer it. It is really an open forum so there's many levels of eduion. Who knows where your at in beginnerville.
Should you need me to conceptualize the market and how folks make the cash. . .ok...I'll try that. I'll make a easy metafore...x
It's a market. A live market. For the exchange rates between currencies, they are in pairs and the'rate' is that floating amount price that bounces up and down. Do not look at the currencies because I'm making a metaphore. . .it's a market of nuts...
Walnuts. . .Cashews....Macadamia...
The exhchange rate on the macadamia/walnut pair is 20.0000. . .heh. So so a single macnut for each 20 walnuts. See, I'm the crafty squirrel and that I'buy' that commerce which means I traded my 20 walnuts for the 1 macnut. You think I'm crazy right? How is one measly macadamia nut awaiting na continue throughout the winter? I understand in 6 months after that exchange rate will probably be much different because of the nut market. It'll closer to the 40.0000 price. So I, the crafty squirrel will proceed at that time to the nutmaket via my laptop. . .oops. . .um. .via that the treelimb. I will trade back by'selling' my measly macnut for 43.3350 walnuts and wonder why I didn't exchange for at least two or three macnuts that time. Though I'm pleased with my 23 and a third of a nut profit. Over pitched my nuts...
One happy squirrel.
Now begin studying and go nuts.
Were you nuts to begin using or has trading made you like that?
I know the trading concept quite nicely, I guess its own language I should understand, I work as an engineering buying manager, so I have a fair comprehension of business and trade, but it is the same as whenever you jump to some new'hobby', you've got to learn from scratch.
One thing to point out at this juncture... I'm definately not here in order to get wealthy or to attempt to discover some genius methodology, all I need is to delight in the thrill of'gaming' with a few quid and if I'm up a few%, then I'm happy.
Cheers
Chris
are you currently nuts to begin with or has trading created you like that?
I understand the trading concept quite nicely, I guess its own terminology I need to understand, I work as an engineering buying manager, therefore I have a fair comprehension of business and commerce, but it is the same as whenever you leap into some new'hobby', you have to learn from scratch.
One thing to point out at this juncture... I'm definately not here to get wealthy or to attempt to discover some genius primer, all I need is to delight in the thrill of'gambling' with a few quid and if I'm up a couple%, then I'm glad.
Cheers
Chris heh I was considerably nuts prior to trading. . .it's just now I discovered a market that permits me to learn more about the inner nut.
ah yes. . .it's easier to know what to say if we know where you are at. There's a great site that has tons of fantastic info. It looks to be geared towards stock trading. But the tutorials have a lot of info and that I found them helpful as a quick reference guide to technical information.
Http://www.tradingday.com/c/tatuto/
That is it. I hope it is okay to post links . I'm sure there are many others here who have their favourite sources. Folks will add to the listing for you. I understand the gambling rush that some gain from this. I enjoy living on the edge as well. It is just that if you don't get some instruction. It just as lousy losing to some market constantly since it is a casino. At least with all the casino they will comp the space, food and booze. heh....
Love, good luck
Peace
are you currently nuts to begin using or has trading made you like that?
I know the trading concept quite well, I guess its own terminology I should understand, I am employed as an engineering purchasing manager, therefore I have a reasonable understanding of business and trade, but it is the same as whenever you leap to a new'hobby', you've got to learn from scratch.
One thing to point out at this juncture... I'm definately not here to get wealthy or to try to discover some genius methodology, all I need is to enjoy the thrill of'gaming' with a couple of quid and if I'm up a few%, then I'm glad.
Cheers
Chris You stated quid. Have you been in England? If you are, there's a means of trading the FX called spread betting. I know that any money you acquire is tax free. Search this forum for posts talking spread betting if you reside in England.
Dial
Yeah, I Am in the United Kingdom, However in Wales, not England. (nicer scenery and people). I have come across spread gambling and will venture more into it later, but for the time being, I'm still getting my head around general trading.
I have been playing http://www.bullbearings.co.uk/ that provides you #100k to play and am surprised by how quickly I will eliminate money. I'll get the hang of it eventually, but maybe not with real money just yet.
Here is some Forex focal sights.This one is great to get a solid logistical Comprehension of the Forex Market: http://aboutforex.com/
This one may be a little intimidating at your degree nevertheless, but is a massive resource of information. If you are a lover of doing obsessive study, then you will learn A LOT here: http://www.surefire-trading.com/tsl/secret.htm
This sight was INVALUABLE to me as a newcomer, you can't click a link without learning something new which will bring you to the next level of comprehension. This is a portal to sight to a lot of aspects of Forex. Spend days here reading on their understanding center, or perusing professional technical analysists forecasts. They also have great free charts and quotes. http://www.fxstreet.com/
And of course, you'll loe https://forexintuitive.com/discussion-trading/97924-tax-liability-form-saxo.html to be an amazing resource for up to date information about what the Forex Market is doing, and message boards like this one are amazing because as soon as you get serious about FX, you will start to go a little insane, and it's wonderful to find that there our other live people out there going through the same highs and lows. And these individuals will provide some advice. Https://forexintuitive.com/discussion-trading/97922-gbp-usd.html
Wisdom is the act of learning from one's mistakes. But Genius is the act of learning from others mistakes. There are dozens of factors which need to go your way before you may make a dime in the forex market. The chances are against you. The only thing which will enable you to beat these odds would be to find out the mistakes others have made so you can stay away from them. And of course also make your own errors, because these will be the classes for you. As soon as you are comfortable and have a fundamental system, run a presentation. As soon as you believe you're comfortable playing with real money (and everyone will tell you, no matter how real you have treated your presentation, Moving Live is ALWAYS much harder), Fund an account and start trading.
Sincerely, Good Luck.
Thanks a lot, that will fill my lunch breaks for a while to come.
Thanks everybody, lots of great guie
Chris
Hello Buster,
yet another thing - time is a really limited resource. Spend it. Rather than loosing a lot of time and money try to discover a mentor and have one to one discussion.
If you will need some guidence I can help you to get 2-3 month of missing time. I'm profitable trader and I can help you with advice and instructions. But in the end you should be the one who have to learn and use what's suitable for you.
Tx.
Buster has most probably already busted long time if he ever started live forex trading, that I doubt. #Post 12 was his post on FF.
Hi All
I am new and following courses Available for trading.
What I see is, I can't begin threads because of my profile.
That is a bit hurting because as a'newcomer' I want to ask a few things which aren't apparent but at precisely the same time I can't ask them due to authorisations.
Neither (I believe ) I can make a meaningful contribution at this moment since I am gathering information and processing it. .
umm. . I think am in a chicken-egg scenario, so I was thinking can I pose my inquiries on this thread or could there be another manner?
Thank you Beforehand.
I noticed it was an old thread nevertheless anyone who's new in forex trading and wanted to get started should begin practicing forex demo accounts as they might be the biggest advantage for any successful trader and moreover a new trader can learn forex procedures more readily while doing a demo account.
Change your leverage on your account to 25:1 to Prevent you from blowing up your account start with .01 lots till you've Got more experience
First open a demo account in any broker then learn commerce by doing experimentation on demo account after that u should have to open live account.
Hello, friend!
Here are some tips that will assist you. So, what to do to become a good (really good) trader? Take the Upcoming steps:
1. Reading special books. As an Example,”ForeX Trading for Maximum Profit: The Best Kept Secret Off Wall Street” by Raghee Horner Is Quite good for beginners, I read it once I was beginning to trade on Forex. Horner also wrote an exellent”Thirty Days of FOREX Trading: Assets, Tactics, and Techniques”. Anyway, this author is my personal option, you're free to search for something you like.
2. Reading Fx blogs. Kathy Lien's blog, Forex Crunch, Forex Magnates, Investopedia, BabyPips, forexintuitive would be the best one for me. You can find a fantastic piece of advice there.
3. Learning in your Brokers web site. As soon as I began trading, I have found all I needed on website of brokers which I had chosen. I won't name them today but you can write a message to me, I will tell you about my own experience (btw, I trade on Forex for 3 years already).
4. Practice. MORE practice. Start with a Demo account, continue with investing in actual money, make a decision as to what egy ir yours, and begin making money!
Recall, that you should take into account each of the hints which you are going to learn from literature. You'll need to make all of your decisions logic and automatic. After some time, once you'll be experienced enough, you should feel that the ground. Satisfy your wins and losses less something outstanging, however as a lesson.
Behavior plays a massive role here and you'll need to tame your own emotions to be a real trader. And just practice will help you to succeed.
Hope you'll make it. If you'll have more questions, feel free to contact me privately messages.
You'll come across a very good introduction to all the fundamentals here;
http://www.babypips.com/school
Nice simple and relaxed approach with'self testing' modules and'bite size' classes.
I discovered it a bit patronizing initially but soon got over that once I realized they knew more than me, I go back frequently to review and test things out.
And it's all free.
Good fortune.
To begin forex, first measure is always learning, begin reading e-books, tutorial, videos to get comprehension of forex and how it works. Then comes to demo testing, which give you practical experience of trading.
It is like crazy jungle here, tens of thousands of systems and indiors
it is like crazy jungle here, tens of thousands of systems and indiors it truly is. I'm not even a newbie no more and that I still have trouble differentiating between the useful and useless items, I can only imagine how hard it is for inexperienced men and women.
Hi Guys,
I'm not Certain if I'm at the Ideal place, but I'm stuck and new at forexintuitive. I desperately need help with a new EA I am working on what's utilizing the Ichimoku Kinko Hyo indior. I can share the egy with you guys, but I need is a change of the whole indior chart to the left. The cause of this is to detect turning points at the Tenkan Sen, Kijun Sen, Senkou Span A and B. Maybe my approach isn't accurate. If there is another way to detect the spinning points, I would really appreciate your input.
Thank you ahead of time.
Forex is big company and also to be a part of this work one needs to survive so many things in life. You want to first begin learning what you will do with here to begin here.
Hi Butterscotch,
Thanks for your Reply. Maybe my message was obscure to begin with. The Forex part is nice, that I understand. What I actually referred to was the programming part of the current EA. I just needed help programming the indior Ichimoku Kinko Hyo. I need this indior to shift 1 candle to the left to find the cross points.
Can you maybe help me with this one?
Thank you very much!
The way to open demo acc gys
the way to open demo acc gys If you are talking about MT4, install the platform, click on the File part of the drop down menus, then click on Open New Account and follow the steps from there. Obviously you need to choose the demo account option from that point.
Yes I Favor MT4 trading platform for the traders That Are Especially beginners
To start trading at the first run we must always be to attempt to learn about the run. Forex company business risks are extremely high, therefore it is always trying to learn how to conduct to understand forex managed. And really profits in forex it depends on the knowledge and capabilities of each trader
Yes I favor MT4 trading platform for the traders that are especially beginners People say that it's far better to try unique platforms, but not the only one.
I began with mt4 also it appears to me the most comfy tome now, that's the reason why I don't change to a different ones now. However, I heard that ninja and ctrader are simpler to understand. But I am used to mt so much now, that can not use other people.
I'd advise newbies to try each platform and make their own conclusions
I have tried multiple platforms and that I still find the first one I tried - MT4 - to be most appropriate one for me. I find it very intuitive to use.
I want to combine to positive feedbacks about babypips forum. Their memebers are extremely communiive and always provide a lot of detailed answers for any query. Especialy valuable, when expirienced members of this forum answer the query. If you understand Lexis such as )). . Also EarnForex is great.
I have attempted multiple platforms and I find the first one I attempted - MT4 - to be most appropriate one for me. I find it quite intuitive to use. And what do you think of ninja?
quote And exactly what do you think about ninja? That I don't have any opinion, I haven't actually attempted trading with this platform.
Generally, novice traders must start from fundamental level! According to my personal experience, BabyPips School is a fantastic spot for start with! Besides, new traders will need to start a demonion for practicing purpose! Demo is the most decent means of Forex learning.
As an absolute beginner, only studying Forex to attempt to understand what is going on, can anyone offer layman terms advice about the best way best to trade. As a new trader; you want to begin with demo! For studying; you can begin with BabyPips School! This college is a free service, but also far better, you might get here basic directions on technical and fundamental analysis! On the other handbe active on this form and attempt to read all treads on market analysis; you want a fantastic analytic ability for being successful Forex trader!
I haven't use any EA outside from the MT4 so I don't have any idea how the programming should be. The EA you're asking, I have never learned about it.
The first couple of years will be very tough. And don't think about earning money in the early phase - that I learnt this the hard way.
- Read up recommended trading books
- forexintuitive and Babypips
- Watch up highly rated videos on youtube to find an comprehension of the market, charting and practical appliion of different specialized tools. Avoid using their method though unless it is for testing purposes.
- Develop a commerce plan and trading system(s).
- Manage trades properly with appropriate risk management and decent plogy.
- Review trades.
- Practise using a demo or small account till you get consistent results.
Watch a fresh chart over and over again to get a time. Time cans cut on to dismiss the majority of the avaible here. To put it differently, be discerning. This must not take years, before make constant profit. The plogical development is the key.
Practice merely demonion for the first time to acquire a clue what you are doing and the best way to exchange your own method. No simulation can raise your plogical building for your trading.
Start using a smart real account and prepare yourself to have a tough time not penalizing all, even should so take this lesson.
Before you will put in one indior, take a rest and consider it. What do you tell a single candle and in context with other candles?
I want to join to positive feedbacks concerning babypips forum. Their memebers are extremely communiive and always give a lot of comprehensive answers for any question. Especialy valuable, when expirienced members of the forum answer the question. If you know Lexis such as )). . Also EarnForex is good. Yes, concur. Pips is one of the busy forum where you are able to fix your any trading issue. Just like you I also favor Lexis description about virtually any topic.
Hello, and WELCOME to forexintuitive.
To start with, visit the who we are thread and tell us more about your self.
Moment, here is a link to get you started http://www.ees.net.nz/forex.htm
third, ask ask ask... no matter how idiotic it could be/sound.
Take care
Habeeb
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