Page 2 of 503 FirstFirst 123 LastLast
Results 11 to 20 of 27

Thread: Six Forex Trading Tips for Newbies

  1. #11
    Quote Originally Posted by ;
    I believe the most useful tips are: 1). Good risk-management 2. Adhere to the trading egy 3. Dont trade against tendencies. Lmho
    Yes, these points are important! I visit max traders lose their money since they can't adhere to the proper means of money management! In my trading I use a fixed risk-reward ratio and that is my way of after money management policies in my personal trading!

  2. #12
    Quote Originally Posted by ;
    quote Yes, all these points are significant! I visit max traders lose their cash because they can not adhere to the appropriate means of money management! In my trading I utilize a predetermined risk-reward ratio and that is my way of after money management policies in my personal trading!
    So accurate Money Management is one of the keys to achievement

  3. #13
    Quote Originally Posted by ;
    I think the most useful tips are: 1). Good risk-management 2. Adhere to the trading egy 3. Dont trade against trends. Lmho
    Hi iamvolosha,

    Let me comment a little bit Your tips from my perspective:

    1. Good risk management is obviously fine, but not necessarily straightforward. Should you take one transaction at one time only it's quite simple to calculate risk-reward ratio. However for different forex egies ratios that are different will get the job done. Other issue is when You transactions dozens of transactions in the exact same time and on various timeframes and pairs. Money management requires different egy and is much more intuitive than stringent.

    2. Adhere to the trading egy - yes, but if it's a terrible egy (most of them I;ve seen FF) You should know when to lose it.

    3. Do not trade against trends ?? Yes but only if You concentrate in trending egies. If You specialize in scalping / counter tendency / no-trend trading, then this is quite awful tip.

    Cheers!

  4. #14
    Hi to all:
    I've a query about Money Management at gerneral:

    1)
    Is: 1 news = 1 position? (e.g. 1% of the available margin)
    Even when I trade this news with 3 currency-Pairs?
    Or would it be better to calculate:
    1news = 3 positions (3 currency-Pairs) / respectively 6 position involving hedging?
    3 positions 1% of the available margin

    two)
    when I trade GBP news with 3 places and USD with 6 positions:
    if I trade every position concerning precisely the same quantity? =gt; GBP 1% of the available margin / USD 3 percent of the available margin
    thus a USD trade has dual risk and destroys all wins on GBP?
    Or would it be safer to trade each news about exactly the same quantity?
    So every news are equal but my trading amount of each currency pair in GBP is as dual high (1%) as in USD (0.5%)?

    How can you manage it?
    That I´m looking foreword to hear of your experienes
    Chris

  5. #15
    Quote Originally Posted by ;
    I think the most useful tips are: 1. Good risk-management 2. Adhere to the trading egy. Dont trade against tendencies. Lmho
    I concur with your 1st and 3rd point straightly! By the way, I see many traders begin to follow their trading egy with no enough experimentation! They try to experiment their trading systems from the live account! That's too much hazardous! If you're trading with a profitable egy only then you can follow it otherwise not.

  6. #16
    Get a trading platform, that has ended up being effective for you. Keep in mind that processes will operate for a variety of traders, and thus don't endeavor to get a system that functions admirably for a different broker. It might reverse discharge . The methodologies are evaluation or investigation that is fundamental. A blend of the two is a decision for seasoned traders.

  7. #17
    Quote Originally Posted by ;
    Good hints. The largest mistake newbie does is they treat trading as a betting. They come here to get rich immediately. But they are unwilling to learn from themselves. However, the truth is you need to be proficient in order to generate money consistently. If you can not spend your time don't invest on the market.
    There no livelihood in the world that can make you rich overnight. Keeping this mentality is component of immaturity. Be patience , be more profitable.

  8. #18
    Quote Originally Posted by ;
    quote There no livelihood in the world which can make you rich overnight. Thus, keeping this mindset is only a component of immaturity. Be cautious , be more profitable.
    I totally concur. Any notions that you can get rich quickly from trading is produced by unethical marketing. For all those lies do not fall.

  9. #19
    I'd love to add to your list.

    Learn and practice sound money management principles.

    In fact over almost anything else it appears from the worlds of both trading and gambling which bad money management is the number one killer. Individuals placing trades with FAR too big of a lot dimensions for their account dimensions. Traders not closing losing trades.

    By maintaining your trade size appropriate for your account it makes it a bit easier to trade rationally. Keeping hard and fast rules for when to close a losing transaction may prevent a small reduction from turning into a very account breaking reduction.

    Money direction is (IMHO) probably the one most significant thing for any new trader to learn and grasp.

  10. #20
    Quote Originally Posted by ;
    quote I totally concur. Any ideas which you can get rich quickly from trading is produced by unethical advertising. Do not fall for all those lies.
    We know this kind of true fact, but we can not prevent the mindset to bring in profit rapidly when trading . It's true.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information