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

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?

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.

Check out Indorun EA. It could be very profitable.

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.

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.

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

I am very new to forex trading. can somebody suggest a website from where i can learn all the basics.

Thanks in advance

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

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.

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!

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

I would like to suggest you to visit forexdialouge.com .hope this will help you

thanks

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.

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.

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!

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.

Edited January 21, 2011 by SpacyTrader

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

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.

 

forex news

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.

Edited June 3, 2011 by Harper

Hello, I am new to forex trading and I want to learn more on this business. I heard that there is a lot of risk behind it, so that I am confused to start trading. Give me some guideline which is the best time to start trading?

Hi Jenny,

 

If you're totally new to forex and trading then the best thing to do first is to practice on a demo account which all brokers provide at no cost and will give you live price feeds and as close to a live trading experience as you can get.

 

Ensure that you don't start up your demo account with unrealistic funds though as that's the mistake that many make. If you can only afford to open a live account with say $2,000 then don't practice your trading on demo account account which is funded with $100,000. This will give you totally unreal expectations and you will suffer because of it when you go live.

 

Please consider carefully what experienced traders have to say (I used to ignore them too lol). Everyone is a rebel when they first start trading and think, what's all the fuss about? Why mess around with all these lines and charts - I can see where price is going...

 

Sooner (ideally) or later you'll realise that trading isn't as simple as it first seemed. In fact, it's a lifetime journey of learning about new methods of trading, interpreting market conditions etc., but more importantly about learning about yourself. Psychology plays a big part in this game and you'll eventually find you're reading more books about trading psychology than on techincals of how to trade successfully.

 

On to risk...

 

You can take as much or as little risk as you like, there are no rules in this game. Provided you have enough cash to place the trades you want to then you can go ahead and roll the dice.

 

However, it's common sense when you're faced with something unknown to protect yourself and you do this in the markets by using a stop loss (the maximum amount of cash you're prepared to lose on a trade which turns sour). You need to use stop losses when trading in demo as if you were trading live - demo is a dress rehearsal for live trading, not a game.

 

How much should you be prepared to lose? Well, the choice is again yours entirely, you decide when to place a trade, you decide how much you're prepared to lose if the trade goes wrong and you decide how much you're going to take as profit if the trade goes according to plan. This is all part of the personal responsibility side of trading - it's no good blaming the markets, your friends/relatives/children/cat/dog etc. if a trade goes bad - you made the decision to enter the trade alone, so you need to accept the consequences - good or bad.

 

Traders with large accounts will often set their stops at 1% of their account balance to ensure that even if they have a string of consecutive losses that they won't cause too much of a dent in their capital. However. if you start with a $500 account then 1% stops can be unrealistic as they may not leave enough room for the price movement to "breathe" whilst you're biting your nails waiting to see if your trade is going to soon head off in the "right" direction. 5% I would say is the absolute maximum risk you should take as new trader though ideally 2% would be much better.

 

As a general rule you should try to ensure that your targets are greater than your stops (e.g. target 1.5 x stop or 2 x stop), though if you're trading a good system and have consistent accuracy with winning trades of well over 50% then 1:1 will be ok (bear in mind that if you only get 50% of your trades right that with 1:1 stop/target, you'll still be losing cash because of the spread you'll be paying the broker).

 

To answer your original question, the best time to start trading live is only when you've proven to your own satisfaction that you can make money in this game. The only way to do this is to practice on your demo account and treat the money as if it were real. Keep track of your trades and performance and if you manage to trade for several weeks on demo and remain net profitable on each of those weeks, then you may be ready for live trading.

 

I say "may" because as soon as real cash is on the line then people do all sorts of strange things. You have a stop loss set at 40 pips, though you're trade is going in the wrong direction and you think "I can't afford to lose $400 on one ****** trade, I know, I'll move my stop to 100 pips away and that'll be loads of room for the trade to bounce back...". The next thing you know is that the market has been as unpredictable as it often can be and now your trade is running at -£900 !!! You can imagine how the rest of the story goes and most traders have experienced this in the early days. The moral of the story is that in addition to having responsibility for your own actions, you also need a lot of self-discipline in trading to be able to ruthlessly allow trades to get taken out for a loss at your pre-defined stop loss levels.

 

If you don't remember anything else from what I've written, remember this one thing "stop losses are there to protect your capital". Ego has no place in trading - experienced traders are proven to be "wrong" by the markets often several times a day - ensure that your targets are bigger than your stops and you'll live to trade another day.

 

Why am I talking about losses, risk, psychology etc. and not getting excited about the possible gains to be made? Well, you'll be able to answer that question for yourself in time...;)

Edited August 18, 2011 by soundfx

I`m not gonna say demo first.. rather open a cent account with a bucketshop broker and trade with low investment ..Don`t use any EA , especially on this market conditions... And try to learn some price action basics.. it does a lot more than any ema ore whatever indy .. and momentum...

Demo first is a good idea as well, but to be able to train you`re greed, you will need to trade with real money , even if it`s 50 bucks on a cent account

Hi

How much profit you earn per 100$

my first account was at FXcm with a 25 usd starting capital...till today i dont know how i managed to make 246 usd before burning it down .