Announcement

Collapse
No announcement yet.

New to the market... Need your advice...

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • New to the market... Need your advice...

    Hello Traders,

    I am waterlily from Dubai. I am new to this hobby. I find it interesting to invest my money in forex. So, I joined www.hymarkets.com and currently still using demo account... But still full of question marks.

    I hope i can learn new strategies from the Pro. I am hoping you'll help me guys so that i will be guided.

    Btw, is there any traders from Dubai?

    Thanks a bunch!


    Regards
    Waterlily

  • #2
    Join the club... Also beginner and thrive for fortune

    Comment


    • #3
      Originally posted by kurtS View Post
      Join the club... Also beginner and thrive for fortune
      Hello Kurts,

      thanks for your reply. Where can i check the beginner and thrive for fortune?

      Comment


      • #4
        Learn some trading basic via e-books, videos.
        keep practicing with demo account
        Try to minimize the lost by learning it with e-books, videos and keep practicing with demo account.

        Happy trading.

        Comment


        • #5
          The important is to open demo account fist and not go live... Plus you have nice sections here with videos that can give us some basic knowledge...

          Comment


          • #6
            Originally posted by duderex View Post
            Learn some trading basic via e-books, videos.
            keep practicing with demo account
            Try to minimize the lost by learning it with e-books, videos and keep practicing with demo account.

            Happy trading.
            Thanks duderex. i'll keep that in mind. btw, have you tried trading in HY Markets?

            Comment


            • #7
              Originally posted by kurtS View Post
              The important is to open demo account fist and not go live... Plus you have nice sections here with videos that can give us some basic knowledge...

              Hello Kurts,

              Yes. I opened an account with HY Markets since they are known here in Dubai. I tried their demo and i find it interesting and reliable. i think i need more exercise before i'll open live accounts.

              have a nice day!

              Comment


              • #8
                It might sound boring but honestly you just have to get a good understanding of Forex and the trading platform. So demo, demo, demo only for a while is crucial. Don't be tempted to expose your hard earned money because you will almost certainly lose your funds until you get to understand the game. When you see a strong move - stay out of the market and see how it pans out. Chances are it's a lure to get you in the game. More often than not, the move will suddenly reverse as soon as you jump in. When I see myself tempted to jump in, I now pause to think "should I do the exact opposite the obvious?". This had curtailed the losses for me. So take your time and learn these behaviours - it will save you a lot of stress and sleep.

                Comment


                • #9
                  Originally posted by FxNewbie View Post
                  It might sound boring but honestly you just have to get a good understanding of Forex and the trading platform. So demo, demo, demo only for a while is crucial. Don't be tempted to expose your hard earned money because you will almost certainly lose your funds until you get to understand the game. When you see a strong move - stay out of the market and see how it pans out. Chances are it's a lure to get you in the game. More often than not, the move will suddenly reverse as soon as you jump in. When I see myself tempted to jump in, I now pause to think "should I do the exact opposite the obvious?". This had curtailed the losses for me. So take your time and learn these behaviours - it will save you a lot of stress and sleep.
                  Thank you FxNewbie. Maybe i need to stretch my patience so that i can be successful in this biz. I dont want to be aggressive at the moment that is why i'm still trying to do demo. i need to work things out and find good strategies on how and when is the best time to trade in real time. thanks again for your help.

                  Comment


                  • #10
                    Welcome Waterlily

                    Do not Demo trade at all ...... put a small amount into a micro account and trade live
                    most brokers offer a micro account ... Demo trading is a waste of time.

                    Comment


                    • #11
                      Originally posted by dk1aussie View Post
                      Welcome Waterlily

                      Do not Demo trade at all ...... put a small amount into a micro account and trade live
                      most brokers offer a micro account ... Demo trading is a waste of time.
                      Totally agreed. Demo will kill you down the road because of reckless trading.

                      Comment


                      • #12
                        I disagree - knowing how to use MetaTrader involves repetiton (for learning) and a lot of trial and error. It's better to learn these on demo than lose money. I also think cent accounts like IBFX (Australia though - not US) mini account is great.

                        Comment


                        • #13
                          Use a demo to only test indicators and trade managers
                          and to become familiar with MetaTrader

                          When it comes to trading use a live account and not a Demo ... keep the two separate ...
                          Keep Live Trading separate from testing and getting familiar with the platform.

                          here is a link to some excellent videos that will help with understanding the MetaTrader platform
                          you will have to sign up .... it is free ...!!!

                          http://www.forexstrategysecrets.com/js.html

                          Comment


                          • #14
                            Originally posted by dk1aussie View Post
                            Welcome Waterlily

                            Do not Demo trade at all ...... put a small amount into a micro account and trade live
                            most brokers offer a micro account ... Demo trading is a waste of time.
                            Hola dk1aussie,

                            thanks for your comment. I did tried today in www.hymarkets.com. They have mini account which is not harmful because it cost $50 only.hehehe

                            Comment


                            • #15
                              Originally posted by Unclepips View Post
                              Totally agreed. Demo will kill you down the road because of reckless trading.
                              how can you say demo will you down? can you please share your experience with demo accounts?

                              thanks.

                              Comment

                              Top Active Users

                              Collapse

                              There are no top active users.
                              Working...
                              X