5 tips for new forex traders

5 tips for new forex traders

Forex trading is full of opportunities but also riddled with pitfalls. The thrill brings in new traders constantly but most likely they are there for the easy money that was promised in an ad somewhere. Unfortunately, these riches are available only for a lucky few who get it right on the first trade. For all the rest of us being careful, having a solid trading plan, good trading conditions by the broker and low fees are a must to stay profitable. So here are 5 tips that could help you push your trading career to the right direction.

1. Start with a demo account. When you first go out to the world of forex you will have the risk free opportunity to trade on a demo account. This will give almost identical conditions for trading a real portfolio with all the ups and downs of the market. Just be sure that you treat the money on a demo as you would on a real account. This will give you a realistic feeling what could happen to your hard earned cash. Caution though when using the demo to judge the performance of trading systems which have a large number of trades, this is one place where the real results can later be lower as slippage comes to play.

2. Choose a broker that gives you low trading costs. A big part of any forex strategy staying profitable is the cost you pay on every trade. This is especially true to very active trading styles making 5 or more trades a day. These days the low end of commissions can be as little as $2 per $100,000 traded.

3. Look for ECN/STP brokers.Written by TradeWiseFX Team -

Source - 5 tips for new forex traders | TradeWiseFX

Boht achi tips hain ya sab aur agar hum ise seriously lein to ya boht madadgar sabit ho sakti ha. Maine hamesha learn karne mai interest lia ha aur meri kismat achi ha k mujhe FreshForex jesa broker mila jahan mujhe sirf learning mai nahi balke har cheez mai madad milti ha jis mai daily analysis hona technical news aur boht kuch!

THANKS nice sharing tips kafi achi hain new start karne waloon k lia kafi useful hain.

Koi bhe trader tab hi successful ban sakta ha Forex mai jab woh samajhne lage k education aur experience kitna maaine rakhta ha magar jab tak hum ya nahi samajh lete hum kabhi consistent profits nahi kama pai gay. Mai filhaal boht kismat wala hon k mujhe OctaFX jesa broker mila ha jahan pura educational setup ha au rise mujhe learn karne mai maza to ata hi ha magar asani bhe boht rehti ha aur ise khud hi ache results milte hain real trading mai.

New brokers k lye ye 5 tips sach mein bohat kamlal ki hain or lekn kafi log news per depend krty hain or old news ki anaylsis ko use kar k wo anadaza lga lety hain k ab market uper ki jye ge ya nechy ki trf aye ge or first tip sab s phly krni chye demo account per continue practice and daily market ko check kry k market kis time up rehti hai or kis time down

Re: 5 tips for new forex traders

assalam o alikum dear brother bilkul sahi infi di ha apny m ye khna chahun gi k forex m kamyabi hasil krny k leay sb sy ziada zarori bt ye ha k insan kbhi laluch na kry r forex ko betting na smjhy blky bussiness smjh k rules k mutabik kam kry esa krny sy he kamyabi mumkin ha wrna kamyabi hasil ni ki ja sakti kisi b sorat isi leay rules ko sekho r unko follow kro

Re: 5 tips for new forex traders

Mai 5 ya 10 tips nahi donga, mai sirf itna kaho ga k hume koshish karnie chaiya k hum sahi management istemal karein. Aur mai yahi karta hoon jis mai FreshForex broker ki boht zada madad milti ha khas tor pay in k 101% deposit bonus, to ya chezo se boht maza ata ha.