1. The Basics of Forex Trading - Page 3

Pinati · #31 (**permalink**) 05-30-2009, 04:03 AM

hello everyone im new to this.
wish me luck.

tselehewale · #32 (**permalink**) 08-03-2009, 09:50 AM

I am new in this field and I want to know first what is forex and secondly how do I get engage?

TankerOne · #33 (**permalink**) 08-10-2009, 08:30 AM

I want to learn Forex Trading , could i do it by myself using just those videos ? Or should i contact an experienced trader ? Also how much time would need to learn Forex and start earning money ?

afsn1766 · #34 (**permalink**) 09-07-2009, 09:06 PM

let me know
i am a newbie

afsn1766 · #35 (**permalink**) 09-07-2009, 09:11 PM

Quote:

Originally Posted by JCS

San,

You can exit your trade at anytime you would like, unfortunately, you must exit at the current price. In other words, if you want to exit a trade and you are in the hole, you are going to have to take that loss and hope the next trade is better. There are tools that you can use before you have executed the trade (or during) called a "stop loss" or "stop gain", I believe FXCM actually calls it a "Stop" for a gain, and a "Limit" for a loss. Basically, this function will allow you to preset a number of pips that you want to risk in a trade. Some say stops can hurt traders because "Market Makers" can see stops and will help push the markets to traders stops causing trades to fail. I'm not sure if I believe that to be true, and I also think FXCM says something about that in their description of their interfaces.

What advise would you offer a beginner?

FX_RoMi · #36 (**permalink**) 10-24-2009, 10:44 PM

We are all newbie here, so i too want to share some of my experience here. I open a micro act with $200 balance, earn $100 on the 3rd day to make the total $300. Within minutes, total balance reduced to $80, analyse the data and found that the spread was upto 11.2 pips(micro spread maximum is 2pips). I normally keep the limit at 5 pips, but when it was about to reach the points and make a profit, faith(market makers) was not with me, margin called, everything gone in seconds, and i got a good experience. Play safe, now Trying to find out, who actually controls the spread... Happy trading to all

micha100 · #37 (**permalink**) 10-25-2009, 10:12 AM

Hi, this is Michael.
Found a quickstart guide for Forex newbies in GERMAN LANGUAGE. See that blog entry here: Trading and Marketing
Best regards
M.

Higgey · #38 (**permalink**) 10-26-2009, 12:34 PM

I am also very interested to learn about forex.

FX_RoMi · #39 (**permalink**) 10-27-2009, 10:23 AM

Hello everyone,

Before opening a real acount, please open a demo account... learn the chart carefully, try to predict the trend, and when u r confident enough open a micro account but play safe. Never trade more than 1% of ur balance... ahen u start making profit... u have become already an expert.. wow / congrates..

Happy trading

RoMi_4X