Please Help A Beginner :(

[kashif]

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!

 

[Jira]

Friends- if you are loosing on constant basis then you should analyze your strategy and understand that what are the mistakes which you are repeating again and again and those are the cause of your failure so try to learn from your mistakes and get more knowledge about Forex and focus upon Forex news then I hope that you will definitely make good profit

stop loss must set up or down 35 pips from the place where you think that the price will change direction. Also you have use strategy for your capital; you may trade just by 5% or 10% of your balance.

Last advice if you want to become a good trader- after practising a liittle and apply the following strategies- get into a trading contest/game- tty to compete with other traders in a 1on1 or tournament. this will surely helps

 

[Fxpipper]

One, doing the demo is the right way to go about it since you can use the same to develop a strategy. On EA's no, they are not a good call - you're better off with manual trading.

 

[Cyclon]

How can they possibly know what to do?

I agree with both of the experienced traders' remarks but I bet
that does not get you any closer to where you want to be right
now. It is a sad thing that newbies are given good yet non-
newbie-usable steps to follow that would save them the hard
knocks (which is what they are really asking for).

Yes they need to learn the hard way like you did. That is
because nobody was able to provide you with any better either.

Anguish and defeat saving steps are requested and if we cannot
give them that then how can they possibly know what to do that
will actually shorten the pain cycle?

This situation persists because Technical Analysis is still in
the 17th century. No modern technology fails to do what all must
do to evolve, boil things down to the least common denominator.
From there steps and procedures and tools begin to flow.

What is the trouble with today's technical analysis which keeps
a 95% industry wide failure rate intact? It has not evolved one
bit from the 1600's.

Indicators on charts was a good idea. Actually a great one. But
it stopped improving due to a couple of completely overlooked
foundational constructs found in all markets and hiding in plain
sight on every chart on which you ever looked or ever will
observe.

All we have done in 400 years is manage to automate the
oversight and save hand drawing time. These affect the
application of every aspect of all technical approaches.

I cannot fill you in on the details in writing because something
which is that prevalent yet missed for all this time needs a
straitforward and logical exposition to get you to the awarenes
that there is a fundamental flaw and it must first be recognized
before you may do anything to change it. I had to do a video so
it could be seen.

The statistic of failure is not slight, persists across all market
types and has been in effect a VERY LONG TIME. How do
you handle that?

The experienced trader toughens to it by money management. It is
said by the masters that that is the holy grail of trading and
if there is no innovation in our industry then that's the truth
and the end of it.

How we could have accepted this in 4 centuries while other
technologies of that great age were fantastically developed is
quite amazing. The solution shown in this video is also so basic
that it is shocking that we have no mention of it in any of the
places we like to send newbies to get their "education" nor in
the advanced places enshrined with credentialed Certified Market
Technicians and such.

I wish you luck. You'll need it.

Cheers,
Cyclon

 

[Fxpipper]

Any updates? Feel free to check out babypips school, has a lot of info covering all aspects from basic to advanced topics, including price action, fundamentals, the list goes on,

 

[krecex]

Agree, babypips is the best trader schools for newbies. I have no regrets studying the techniques over there.

 

[ituglobal]

There were those who were passionate about trading, but today, everything has finally ebbed out. Don’t give up! No matter how bad things are right now, no matter how hopeless your situation is; it doesn’t matter how many people have told you to your face that you can’t make it in trading. Things will turn around your tide.

 

[yoyo97]

hello,
I advise you to take some distance with forex, you're a beginner and learning is long, I put more than 3 years before it would lose money. In forex there is no miracle method exste. Trying to keep a demo for at least 6 months, this will allow you to get used to this market. But be patient and do not rush

 

[tabalo]

I advise you should open a demo account with its capital same with the amount that you would invest in the future (live account).

And please go to babypips.com for learning forex knowledge and come back with this forum for asking more questions.

 

[Fxpipper]

Yes and make sure you review all the info including the ones on leverage and margin. And remember to start small, pref with a nano account.

 

[David25]

Hello.

Just wondering if there are any good forex websites around so that I can start trading on demo or real mode.

Thanks,
David.

 

[hayseed]

brokers

hey david..... just choose a broker and sign up for a demo....

enivid has many listed..... i use ibfx here in the states......h

//----

http://www.earnforex.com/forum/f10/vote-your-favorite-forex-broker-26/

 

[expert4x]

Good start

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!

Hi Kashif

First step - ignore all the short cuts such as EA etc and learn the basics of Technical and fundamental analysis. You will only succeed if you know what you are doing.

Second Step - one of the first things you must be aware of is that there are 2 types of traders. There are "with the trend" traders and there "against the trend" traders. So there are 2 types of trading techniques, 2 types of EAs and 2 types a alert services - most Forex trading can be classified into those.

So when the short term trend is up the with the trend traders buy.

So when the short term trend is up the against the trend traders find a price level where they will sell directly against the short term trend. Sounds funny but the best traders are ones that trade against the short term trends but it takes more skill.

So let that be you first guide: choose what type of trader you are going to be a stick to it and perfect it.

Don't try to be both at the same time because you will confuse yourself.

That simplifies trading a lot because the price can only go up or down in the long run.

Third Step So test both approaches and see which on you like most and which is the most successful.

Put your with the trend hat on and place 10 trades trading with the short term trend (the direction of the price in its last 50 pip move) in the next few days.

Then put your against the trend hat on and place 10 trades trading against the short term trend over the next few days.

Use any currency and a 50 pip stop and 50 pip target. Only trade when the US or the UK markets are open

You can enter at anytime as long as there has been a reasonable short term movement of more than 50 pips.

Let me know what you find - This is the best possible thing you can do right now to start your trading.

 

[limonkr1]

I am new member of forum posting. I can know how get this $ in my forex broker. please if you help me. how i can get this $ in my forex trading account.

 

[Fxpipper]

Hi, Welcome to the forum and can you clarify your query?
From what I can make out, you are trying to figure out how to fund your account (with the broker), correct?
Review your broker's web page, the deposit options should be listed clearly..
If this is not the info you're looking for, please list your query again..

 

[Rambo35]

Yes and make sure you review all the info including the ones on leverage and margin. And remember to start small, pref with a nano account.

+1 on that one. I would also recommend a nano or micro account to start out with.

 

[okon2much]

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!

Please don't say they are spying on you cus there are a million forex traders worldwide. What you need to do is go and learn how to develop a working strategy. Right before I registered a live account with PROFIFOREX, I traded demo with Insta and that was where I learned how to develop my own strategy and how the market moves. Most of my trades are a success now and my broker has made things a lot easier for me.

 

[expert4x]

Please do not open a live trading account - you are not ready. Use a demo account until you are more knowledgeable about money management and lots sizing and actually have a trading system. There are organisations out there that are so confident that they will get you trading profitably in a day that they will give you a live funded Forex trading account of $400 to trade immediately after doing their one day beginners course. I would suggest you find them as they cut through all the nonsense and get you trading profitably in a day. You need focus as Forex must look like a maze.

 

[Rambo35]

Please don't say they are spying on you cus there are a million forex traders worldwide. What you need to do is go and learn how to develop a working strategy. Right before I registered a live account with PROFIFOREX, I traded demo with Insta and that was where I learned how to develop my own strategy and how the market moves. Most of my trades are a success now and my broker has made things a lot easier for me.

I am just wondering if you have a purpose other than mentioning a very questionable forex broker which you have capitalized here and in every other post you made.

 

[Nick]

All great advice, good luck!