BEGINNER TRADING: Questions and Answers

What is Forex?
How to trade Forex?

What currency pair should I trade
What would you recommend for a beginner trader.
Is there any preferred pairs I should try first.

What time frame to trade in Forex What time frame should
I choose for my charts please and why.
What is the best time frame to trade in Forex.

Multiple time frame trading...
What is it all about?
What are the benefits of such trading.

If I earn 100$ in forex so there is some who had lost it
so I won, is that correct? 90% of traders lose their whole
money in Forex and only 10% get successful in this business.
Is this data is only for beginners or all experienced traders?

What is lot size and what's the risk?

What is a pip?
Please give me an example!

What is a drawdown?

Does capital invested determine the profit
one make or depends on the no of lots executed.

How to buy/sell in Forex?
How to set stop loss and set take profit when buying selling in Forex?

Recommended books from Amazon:

A Beginner's Guide to Day Trading Online (2nd edition)

Japanese Candlestick Charting Techniques

Encyclopedia of Chart Patterns

High Probability trading

Submitted by Beginner Trader on Sat, 11/07/2009 - 15:25.

how do i start demo trading?

Submitted by Forex Tutor on Sat, 11/07/2009 - 15:28.

To start demo trading you need to open a free demo account with any Forex broker.

Type in Google search line "forex broker demo account" and you'll find some brokers.
Every Forex broker nowadays offers a free demo account.