Meltan

I find this quite a good read.

Part 1

Part 2

JoseLeon

Good posts, I think that all of us will recognize that situation

I agree.

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Jude

so which level are you at now Jose?

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Be Good!

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JoseLeon

I am in the level that I trade with discipline and method, without trying to get a lot of profit daily and with few indicators, knowing that it's not good changing from one strategy to another or placing more and more indicators, and that nobody can be sure about this market, even the best traders will lose from time to time. If I lose pips I don't mind and I don't try to recover these pips immediately (or I will lose more pips with few discipline), I know that the next time I can win. This day was not good

I use the money management. I think that it's the most important. Following a method with full discipline and with money management I think that it gives good results.

I am only trading with the 4 major pairs with a strategy, placing "stop loss" and "take profit" and then I turn off the broker or I don't watch it so much. During the day I will see if I won or not, nothing more. I don't like to be on the screen all day.

But I must learn a lot yet, I am a newbie (only some months) and I am only trying that strategy with discipline.

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sharonsopinion

Hey Melvin! It's good to see you here. Please post something in the Introductions section so that others can get to know you. I'm looking forward to your posts.

- Sharon

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doremi

Hello,

I just found a very interesting site for forex newbies which I'm learning now. It's really an ABC shcool for newcomers to forex. Go check it out and those guys over there are really doing a good job. Here is the link : Forex Education, Forex Training, Beginner's Guide to Forex Trading - BabyPips.com

gaby

Hi doremi,
and welcome to the NN forums.

check out this thread (url: Good Resources for Beginners to Start With) which contains additional resources for forex newbies

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doremi

Thanks Gaby for the pointers.

jazzz

Hi
for those who are interested in Forex trading but cannot understand terminology. Here are some of them:

Leverage is used to trade the forex market’s day to day very small movements. Finexo's sophisticated trading platform enables a yield of profits from a relatively small amount: an initial investment of $100 at a 200:1 leverage, generates yields from an amount of $20,000. With leverage, a .5% rise in the rate of a currency turns to a profit of 100% on your initial deposit amount!
Nonetheless, leveraged trading entails risks; therefore, traders should take everything into consideration. On the other hand, on the Finexo platform traders cannot lose an amount greater than the total funds in the account.

The concept of leverage increases the trader's initial investment, or margin, by hundreds of percent. This initial sum is considered a deposit in "good faith" which establishes the ratio of leverage, and helps the trader withstand his losses, which, in any case, cannot be higher than the sum of the margin.

The smallest changes in currency rates are measured by Pips. Since the Forex Market is characterized by relatively small fluctuations, the pip is, in most cases, the fourth digit after the decimal point. Yet in some currencies, such as the Japanese yen, the pip is the second digit after the decimal point. By using pips, the difference between the ask and bid prices can be measured at any given time, as well as the daily volatility of these values, which ultimately determines profit or loss.

Please refer this link for more basics on forex
Finexo Innovative Trading-Online Forex Trading, Currency Trading, Managed Account, Forex, Forex Demo, Economic Calendar.
Finexo Innovative Trading-Online Forex Trading, Currency Trading, Managed Account, Forex, Forex Demo, Economic Calendar.
Finexo Innovative Trading-Online Forex Trading, Currency Trading, Managed Account, Forex, Forex Demo, Economic Calendar.