New to Forex Trading

Discussion in 'Forex' started by zeenath, Nov 2, 2020.

  1. senumouv

    senumouv

    That would depend on the profits you are making with virtual money. Like I demo traded for two months with xm and fxview before going live with them. The sole reason is to acquaint a trader with the platform features and to fine tune the trading strategies. There’s no harm in demo trading for even 5-6 months to stay profitable in the long run. Depends on a trader’s learning capability.
     
    #31     Feb 8, 2021
  2. tedmos38

    tedmos38

    The timeframe depends upon your trading style, if you are day trading then you can look at H1, H4 and Daily. So you need to define first that how you will trade... scalpers will stick to 1min, 5min etc etc
     
    #32     Feb 8, 2021
  3. Laura48

    Laura48

    If you're still unsure, then I would suggest you to spend some more time on demo account only. Just work on your skills and especially boost up your confidence a little, then start with a live account.
     
    #33     Feb 9, 2021
  4. How profitable have you been?
     
    #34     Feb 9, 2021
  5. Xwell

    Xwell

    If you lack confidence, you need to refine all your skills until the moment when you are ready to take a step and trade on a real account.
     
    #35     Feb 9, 2021
  6. heispark

    heispark

    Are you ready to waste 10 years in your life? My simple advice is just don't do it and find a job.
     
    #36     Feb 9, 2021
  7. Marvini

    Marvini

    All beginners have a hard time at the initial stage, if you overcome this and give yourself time to figure everything out, the result will not be long in coming.
     
    #37     Mar 12, 2021
  8. the newcomers always try to bring profit by using high leverage but in practical it could be dangerous if there is no money management including real trading plan.
     
    #38     Mar 12, 2021
  9. high leevrage means high risk its not true , if there is any risk it is completely with non sense trading planning including poor money management.
     
    #39     Mar 12, 2021
  10. the new Forex trader always ignore the importance of demo but its the master place to become a knowledgeable trader very rapidly.
     
    #40     Mar 13, 2021
    Snow7 likes this.