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  • starting forex

    hi, im starting in forex and i have some questions
    what is the amount that we should start to invest?
    i'm thinking in bying a bot. what do sugest?

    thanks

  • #2
    Start trading on demo account.
    Don't use real money until you can trade successful on your demo account.

    The higher your start amount is, the less risk you have while still making decent profit.
    You can start with little as $100 but don't expect to get a lot of profit (unless you are professional).

    Forget about robot's. Trade manual if you really want to make some profit in forex.
    Robot's are great for the sellers but not for the buyers. Been there done that and I has costs me enough money.
    There are good working robot's out there but ask you self this question: If you have a robot that makes (a lot) money for you, why would you sell it?

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    • #3
      If you really want to buy a bot get eakain, put it only on the most profitable pairs and just turn it off around bank holidays. Those are magnets for losses.

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      • #4
        Check out Indorun EA. It could be very profitable.

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        • #5
          Did you experience attending online webnars? 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.

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          • #6
            Frankly, You don't need budget to learn fx. Just because one throws money at a money collecting outfit doesn't guarantee yourself anything, the quality of the instruction, or the ability to ask questions and receive proper answers. One can easily pay real hard earned money and get lesser quality than the vast amount of free resources on the web. Tons are available right here. Googling for more isn't hard. fxstreet.com has tons of valuable stuff as do forums withi forexfactory.com linking to highly qualitative resources. Books are a category of their own - tons available to learn from.

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            • #7
              i already trading for a month in metatrader. I now want to open an acount with alpari. trading in a live acount its as the same prices?
              thanks

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              • #8
                I am very new to forex trading. can somebody suggest a website from where i can learn all the basics.
                Thanks in advance

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                • #9
                  If you really want to learn how to trade the forex. Do not start by using eakain or indorun ea's. Without knowing how they work you will lose money on them.
                  I suggest download all the fxmentor courses that are posted on this forum so you get an idea what the forex market is all about. Then review all the different
                  bots and systems and see which ones that you are interested in.

                  Cheers

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                  • #10
                    I would recommend to start with a demo account. Then open a small mini account and then (if you still want to trade forex) open a standard account.

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                    • #11
                      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!

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                      • #12
                        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

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

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                          • #14
                            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.

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                            • #15
                              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.

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