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Thread: starting forex

  1. #11
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    Trading bots are good helpers but it is difficult to find a good one. Mostly are not working and there are a lot of scams arround. Good luck my friend!

  • #12
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    Forex Trading

    From my 2 week experiences (not too much) playing demo at fxdialogue, personally, I think that forex is a good way to earn money only if we know exactly what we are doing. Right? The more we understand, the lower risk we have, and the better chance we win. Therefore, I suggest you to understand deeper about Forex by starting a demo account which will cost you almost nothing.
    For your consideration, read it


    Before you can get started with forex trading, there are so many questions to answer. How do I choose a broker? Should I use a demo account? What do I need to know before making my first trade?
    Let’s answer these questions one at a time, in order of importance.
    1.*Choose a broker
    Making a decision on which broker to use is personal for each trader. Some brokers offer certain options that some traders will thrive on, while other traders will hate the broker for those same options. It is important to review and compare the options of each broker closely and choose the one that makes you feel most comfortable.

    2.*Open a Demo Account
    Once you have made your decision on which broker you like the best, it is time to open a demo account. Most brokers will offer at least a 30 day trial of their trading platform giving you a chance to trade on the platform using play money. Using a demo account is a good opportunity to make sure that you feel comfortable using the broker’s trading tools. You would not want to trade real money without being fully comfortable with the trading platform. A demo account will not only help you get a grip on how to use the broker’s trading platform, but also trading the market in real time.
    • Learn to take risk seriously
    • Practice sound money management

    3.*Learn About Leverage
    Forex trading is typically carried out using leverage, or trading on margin. Margin is a useful tool, but it can be very dangerous if it isn’t used correctly. Forex brokers typically offer anywhere from 50:1 leverage up to 400:1 leverage. The higher the number, the less money required to put on a large trade. The use of leverage is something that needs to be taken with a lot of care.

    4.*Practice Reading Charts
    Before you start making trades you should get familiar with charts and how they work. It is a good idea to get familiar with the different time frames and the different types of charts. The shorter time frames will give you an idea of how the market is moving minute to minute. The longer time frames can show you how the market moves over longer periods and will show the larger trends. Most charting software will offer charts as lines, candlesticks, or bars. Take plenty of time to try out different looks and time frames to find the style that you are comfortable with.
    • Learn about candlesticks
    • Learn to understand support and resistance

    5.*Making the first live trade
    The first trade is a nervous and exciting experience. The demo account prepares you for the technical aspects of trading, but when real money is on the line, emotions will come into play. It is important that you keep a level head and do your best to trade with the same methods that you practiced on the demo account. It may prove to be difficult, but if you master your emotions and use sound money management, anything is possible after this step. If your first trade loses money, do not give up, just piece together where you think you went wrong, and try again.
    Forex trading is a constant learning experience. Trading mistakes can be expensive. If you learn from those mistakes and do your best to avoid them in the future, you can become a very successful forex trader.

    Pasted from

  • #13
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    I would like to suggest you to visit forexdialouge.com .hope this will help you
    thanks

  • #14
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    Trading bots are good helpers but it is difficult to find a good one. Mostly are not working and there are a lot of scams arround.
    True. But if it has return policy, good back testing and forward result you good. Best if you find some feedback on the forums with live stats.

  • #15
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    I am answering his question in the first post. How much should I invest ?

    Invest only that amount of money, if that amount of money makes no difference to you if you lost it. Do not trade with money you cannot afford to lose. Fullstop. Trading with risk money will make you do silly things, like taking very small profits, and huge losses and you will burn your account in no time.

    If you are an absolute beginner. Try babypips dot com, learn & absorb everything.

  • #16
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    Starting with free money

    Professional Forex trading with $100 free account by OKPay and UWCFX

    Have you ever wanted to trade forex like a professional? And even more than this: have you ever considered joining an EU-regulated forex broker with excellent trading conditions, commissions and bonuses?

    https://www.okpay.com/en/services/index.html and United World Capital Ltd http://www.uwcfx.com/

    have launched a joint promotion that you will surely love: a free account with OKPAY, a trading account at United World Capital with $100 bonus on it and a free UWC Quick Card http://www.uwcfx.com/promotions/quick-card/index.h

    Can you imagine anything more profitable than this? You open a trading account and you already have $100 in it! And on top of this, you will receive a UWC Quick Card completely free of charge and delivered to your door. The UWC Quick Card is a registered MasterCard, which you can use in over 100 countries for fast withdrawals and with no risk of overdraft. You can even use it to withdraw money with it from your OKPAY account!

    What you need to do for this is simple: sign up with OKPAY first. As soon as you have done this, you will receive an email from OKPAY with a link inside and a coupon code. Click on the link to sign up with United World Capital, and remember to use your coupon code at a later step. Get verified to open a trading account with United World Capital. After you get verified, enter your coupon code in the necessary field on the Deposit page of the Secure Client Site, and the $100 bonus will be instantly deposited into your trading account. After this you can apply immediately for the UWC Quick Card, until 31 January 2011 completely free of charge.

    The $100 bonus is not withdrawable but you can withdraw your profit after you have traded minimum 5 lots. Ready to trade forex and withdraw your profit to your own UWC Quick Card? Start the New Year with a good financial decision and success is guaranteed!

  • #17
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    Problem is I registered an account with united world capital (I already had an okpay account) and I can't find a place anywhere on the uwc site to enter that code, on the deposits page or anywhere else.

    Edit: Nevermind. I got help with that problem, but it was not a mistake on my part or anything I might have missed. Looks like a bug of the site.
    Last edited by SpacyTrader; 01-21-2011 at 03:37 PM.

  • #18
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    Hi, friends ... What is trading robots with forex trading, and whether using them successfully to earn?

  • #19
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    Its about all person capable, some person afford to lose 100$, some to 500$...so individual have to select. That's the nature of forex.

    [url= http://www.cftclaw.com]forex news[/url]

  • #20
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    Hi,
    There are lots of good resources out there.One of the best, I have come across is forexrepublic(dot)info as they run free webinars and training. I think it will depend on how much budget you have right now.
    Last edited by Harper; 06-03-2011 at 08:24 AM.

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