Hello) I am new in forex (MasterForex-V multies)

phaynes1985

Banned MasterForex-V multi
Messages
0
Hi everyone.
Glad to become a part of this community.
I am new in forex. Hope to find here useful information from experinced traders.

What would be your first advice to a complete Forex newbie?:)
 

Pharaoh

Colonel
Messages
19,729
First advice? . . . Strap in tight, the ride may be a little bumpy. :D

Second advice. Don't spend a cent on any forex product or open a live account anywhere until you've had a chance to educate yourself. Here's the best free forex course out there:

Forex Military School | Complete Forex Education by a Pro Banker

After you do that, you'll be in a much better position to know if you want to pay for any other items or not.

Also, when the time comes to select products or a broker, I have a few articles that can help reduce your chances of getting scammed:

Forex Basics Boot Camp
 

FxMaster

Lt. Colonel
Messages
8,513
Welcome to FPA phaynes1985, Pharaoh already suggested useful links to you, just follow him and do not trade without practicing on DEMO.
 

phaynes1985

Banned MasterForex-V multi
Messages
0
Thanks, guys:)
So, I will start my education right here)

And how long do I need to train on demo before open real account?
 

phaynes1985

Banned MasterForex-V multi
Messages
0
Hi, I am a newbie in forex trading. It feels difficult in reading this chart. Could you please explain the meaning of MF TL?
 

Pharaoh

Colonel
Messages
19,729
That really depends on you.

My advice - when you get to the later chapters of Forex Military School, Sive talks about developing your own trading system. Once you have your method set up, try it on demo for at least a few weeks. Then, analyze the results. If it's losing, adjust it and keep trying. If it is profitable, recalculate the returns as if there had been 2 pips of slippage on each trade. If it's still profitable, the time has come to test it on a live account with a very small amount of money.

Even then, you can keep using a demo account to develop other styles of trading. After all, no matter how you trade, there will be days (or possibly even weeks) where the system gives you few, if any, useful entry signals. This is where having a different system for different market conditions can be very useful.
 

NicoleFX

MasterForex-V Representative
Messages
0
Hi, phaynes1985.

MF Trend Line - is a modification of a Trend Channel.
In Masterforex-V TA it is one of binary elements that is used to determine the Wave Levels, and helps to synthesize different time-frames.
1. MF channel simplifies the process of identifying waves at different time-frames and simplifies their synthesis.
2. Identifies the current Wave Level and reveals the principles of transmission to a higher Wave Level, on larger time-frame.
3. MF Channel helps to identify the extension of current wave;

With help of it any correction model can be easily identified online and not post factum. It helps also to identify the wave extensions "onilne".
 

NUEN

Banned MasterForex-V multi
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0
Hello)

Please explain what is FZR? Haven't meet it before....

Thanks
 

NicoleFX

MasterForex-V Representative
Messages
0
Hi, NUEN

FZR - are unique elements of Masterforex-V Technical Analysis.

MF - stands for Masterforex-V

FZR - is a Fractal-ZigZag Trend reversal figure (a biggest discovery of Masterforex-V). It is one of the most imporant discoveries in Masterforex-V TA. It is a universal pattern that shows that trend is turning arround. Masterforex-V says - any trend lasts from FZR till FZR (of same Wave Level)

If you have more questions, feel free to ask.
 
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