Daily Forex Tips For Newbies

downtrend

Sergeant
Messages
857
Set some check list, then only follow that list to enter any trade setup you see. Don't deviate yourself from your plan if you don't want to lose un necessary from trading.
 

Bilal Jafar

Private
Messages
10
I completely agree with the point of view that if a person is trying his hand in FX trading then it must be started with the Demo account because If you start with Live account then it would be very difficult for you avoid losses because you don't know how to execute a trade and also you are not use to of trading platform, so it needs to be started with Demo account and after testing different trading strategies, a trader can open a live account.
 

downtrend

Sergeant
Messages
857
Having a daily check list increases your chances of remaining stick to your trading plan. If you have some written daily check up list then you can easily go through that list and make your trading decisions very easily.
 

FxMaster

Lt. Colonel
Messages
7,922
If you guys follow analysis and market news from pros then you can make better trade deal.
 

victoriajensen

Private, 1st Class
Messages
1,117
Another useful advice I can give is this: be very careful when trading during big economic events (for example: the US non-farm payrolls). If you don't even comfortable doing it it's best not to do it at all.
 

downtrend

Sergeant
Messages
857
Another useful advice I can give is this: be very careful when trading during big economic events (for example: the US non-farm payrolls). If you don't even comfortable doing it it's best not to do it at all.
I exactly thought of same today as I saw this thread title, that any trader whether newbie or old, should first check the economic calender before he decides to trade on any particular pair that day.
 
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