Forex for beginners - some advice

[muhammadlakhani]

Does anyone have any advice on trading for beginners?

I have also heard of Forex Robots... do they work? Are they a scam?

I want to start small, and see if its really for me or not. Will take it from there.

[muhammadlakhani]

1. Never trade with money you cannot afford to lose (i.e., rent money, food money, etc.).

2. Forex trading is extremely risky, due to the high amount of leverage that most forex brokers offer. Remember, leverage is a double-edged sword...it magnifies your profits, but at the same time, it magnifies your losses. Most beginners only see the "magnifies profits" part of the equation. They forget about the "magnifies losses" part. As a result, they risk too much money and end up losing it all. Don't make that mistake. Trade conservatively.

3. The first priority for any trader is to "Protect Thy Capital". The second priority is to "Make Profits". Most beginners usually have it the other way around.

4. With regard to Forex Robots, most are scams. I say "most", but not "all". A few are legitimate. Just use your common sense when evaluating robots. Stick to the adage, "If it sounds too good to be true, it probably is."

[muhammadlakhani]

Forex is a great way to make fantastic money. On average, it will take 3-5 years to be consistently profitable. Well over 95% of those that try, fail miserably within the first six months.
Thinking that there's some type of "program" that will help you get rich.... is thinking that needs to be addressed. If the robot programs really worked... everyone would be using them. The truth is... a very few are legit and they are generally not advertised to the public. The few programs that work, will only be helpful to the already highly successful trader. You could easily lose your entire account within days.... using the best robot.

Learn Technical Analysis and most important.... trading money management. Without exceptional risk control skills...... you'll get killed

[muhammadlakhani]

A friend of mine recently joined a forex training company for just $4.95 and, to date, he still believes it was one of the best investments he has ever made. it depends on you how much knowledge you have and trust worthy of that web site

Good luck!!

[muhammadlakhani]

A robot can never win you money for a long run. Think about it. Just some parameters, digits, and programs to win other humans' brain? No.
I have worked on Forex for three years. I know all the insights.
For a short run, say, you try it for a really short time, you might be impressed by its magic.
But, for any fluctuation, a little bigger one, the robot will close the position and you'll lose money.
The higher the leverage you use, the more risk you take.
If you use up to 1:200 leverage or even higher, I can say, no more than one month, you'll at least lose half of your deposite, three months, you will lose them all.
You can try that robot on your demo account for a month, then come back to talk about it.

[muhammadlakhani]

hi forex is great if you know what you are doing and forex robots can help you increase your chances of making money.
check out www.instaforex.com it is really helpful and will teach you a lot about forex and also the automated robots.

[muhammadlakhani]

An article I read stated that only 20% of beginners actually make a profit in their first year.
Also be careful of forex scam sites.
Deal with only reputable companies

Get a couple of books on the subject and read, read, read first....

[muhammadlakhani]

you want to start small? try starting a currency exchange business. this will give you a ground-level foundation for forex trading later. the turnaround time is different but the mechanics work the same.
Get a couple of books on the subject and read, read, read first

[muhammadfazi]

Gee main too new user koo yahi kho ga kay phely app forum per comments keroo aur phir demo account per practice keroo aur sath sath books aur online sites say help lay ker knowledge loo is kay baad real trading kerain too app loss say bach skhain gy.

[fahad74]

New users ke liye ya hi advise hai ke wo defferent forex site se is ke bare ma infromation ly maket indicators ,in ka use our trends, our in ka effect. our ziada se ziada demo account par practic krye.