Being a Forex beginner
We all were beginners one day...
This site is for everyone who decides to step on a path of Forex trading career.
An overwhelming amount of information about Forex can leave an average newbie quite discouraged: What to do first? Where to start? Will I ever be able to comprehend everything about Forex trading?
Those and many other questions will be answered here in our tutorials and lessons.
A step-by-step solution offered should leave no questions about successful starting of a Forex journey. But if you do have questions left, just any questions about Forex trading, you are very welcome to ask it here: Newbie questions and Answers board. No stones will be leaved unturned!
And for the end of this introduction, let us encourage you, first of all to be persistent in day to day learning, and most importantly, enjoy discovering Forex; you would need those two qualities in order to complete at least 2 years(!) of Forex beginner journey... Why at least 2 years? Because there is so much to learn in Forex and even much more to practice upon. Imagine, that you are studying to get a profession in finance at university, how long would it take to graduate?
Taking Forex career seriously means being ready to study and practice for several years without a second thought. And while some university subjects are boring, Forex isn't, it is rather exiting! Welcome and happy Forex learning!
Can somebody make with $200 in the FX market as a beginner and please i need a friend who can shear with me his/her views as an experienced trader in FX, please somebody as a friend or mentor my email--
[email protected]It'll take a long way to make fortune with just $200, if that's what you asked about, but it is possible. Be prepared to trade small lots and earn 5-10 cents a pip. Trading cents won't make much money, but it'll keep you from losing money as well, which is the most important part when you have a small account balance.
In about 6-12 month of profitable trading in cents you'll be able to risk larger sums, and with the larger risks your chances to have higher profits hen you win will rise.
It is all proportional, the higher the risk, the higher the reward. You can't make a lot of money coming in with little money. But slowly growing a capital and managing your risks, you will be able to start with $200, even $100 could be enough IF you know what you're doing.
i want to know the best way to do trading for day...whether it good only 15minit to 30minits or more....
For day trading the most common time frame is 1 hour.
For quick trading - 5 minutes, for scalping - 1 minute.
is beginner advised to start with small amount or in a case of say $5000 what's your advise start small or.....
You should start small for few reasons:
- get to know how yourself, e.g. how you're going to react once you trade Forex live. More so, what will be your reaction once you're hit with a loss or a streak of losses.
- get to know your broker, e.g. how well does it handles automatic order requests, is platform working stably and doesn't freeze and also how easy and quick you can withdraw your money on request.
Great website. I look forward to researching FOREX, and the ways to start. I expect it will take months of reading/researching and then years from then on of hands-on experience, learning from mistakes and general decisions.
Let the good times begin!
Great site for forex beginners, let learn together.
Taiwo Are from Lagos Nigeria, i appreciate your honesty and sincerity on starting Forex, it has clarified misconceptions i had, i can say much now, because i have a lot to learn, but am willing to take my time in order to get it right.
First of all thank you for your website.. it's really clarifying for newbies, specillay for the ones like me that are not english speakers, so on top of all there is the language issue with the financial jargon.
I have several questions, sorry if is not allowed to post that many. I will try to be concise as possible.
The first thing I would like to say is I'm already doing Forex trading in a "manual" way and maybe for that I have some things I don't understand from internet forex trading. What I'm doing now is simply have to accounts in my bank.. one in Euro and a second one in USD... when Euro is around 1.5 USD.. I transfer part of the money to the USD account... when EUR lowers around 1.2 USD I move back the money to the Euro account.. this way more or less every 6 month I make some extra cash that no other financial product will give me and I my money is fully available from any account at any moment, so the money it's always on my hands.
Here come my questions.
1. Does my account balance must cover any "unrealised gain/loss" in a open position?
or only I should have enougth funds to cover the realised losses? (which is what seems logical to me)
So imagine that I have 2000 USD on my account balance. I buy JPY at 90 USD and leave the possition open. During the night the JPY lower to say 85 for some hours, so my unrealised losses exceed the 2000 USD in balance...Will the system close my position? or if the next morning the JPY is at 91 USD and I close them my position with gain, it doesn't matter what happened while te position it's still open.
2. How can I choose the rigth broker?... some websites, seem more a scam than a real broker... are brokers trustable? which are the real ones, and the fake one? I'm affraid to give my Visa/account so access to my money, to unknow people.
3. I have read in some forums, that brokers when I come to make real money, they trick you.. with all sort of excuses and tricks... is that true? what we can consider "real money" 100? 1.000? 10.000? 100.0000 per day?
4. How many time I can have a position open? I saw that some Brokers charge for every day that the position rolls a day. there are many hidden fees that we have to be aware of?
5. Withtdrawing the money.. there are also hidden fees or tricks to be aware of?
thanks in advance!
I am just wondering who the people are at FOREX headquarters (I know there really is no such place) who watches for me to take a position so he can immediately turn the whole Forex market the opposite direction. EVERY time! Ugg :-)
I have a 1000 dollars in my forex account, and want to risk 2% per trade. How many pips should my stop loss be?
Im currently in college i was hoping if i could learn forex and make some money in the next 2 years arond $5000..Im not sure what carrer i want to choose post graduation so i was hoping if forex would help me feed myself and act as a backup plzn till i get a job that i really want.My current skill level for online trading is zero...Will starting today and dedicating an hour daily help me reach the target?
Can I trust forex robots as a beginner and if so which d you recommend?
Simple question: im from Malaysia..how do i start? how do i make profits?
Hi I am interested for forex trading and right now I am at ground zero for forex dealings. Please let me know what is the first thing I should do at the beginning level ?
I am living in India right now. Is it possible to trade in USD/GBP pairs here?
my question i am trading before 2 months only in gold new in trading business my once trouble i am very quickly close my post for example i buy some ounce than very quickly close . so how many time wait for my buy/sell post ?
to: First of all thank you for your website.. it's really clarifying for newbies, specillay for the ones like me that are not english speakers, so on top of all there is the language issue with the financial jargon.
fxcm.com.au will have all you need.