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Thread: Helping hand for beginners

      
  1. #1
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    Default Helping hand for beginners

    I was a beginner like all of you two years ago. I started with 20,000usd account and ended up with 2,000usd after 3 weeks. Its a lot of money to lose.

    I had to learn the hard way but I am a very lucky man as I am in my 40s and have amassed a great fortune. This was just little pocket money for me :grin:

    I went back to the drawing board. I realised I need to do research. I spent 3 months trying out my strategy on demo account. Then after 3 months of successful trading, I opened a live account with 2,000usd. It was a mini account of course. This time I used good money management rules. I only risked around 1% of my account. For all beginners this means I will only lose 20usd per trade. This gave me longetivity and after 3 months I was up 7% which is very good considering I am a newbie.

    My bank manager requested me to diversify my portfolio instead of me trading my own money. So I ended up opening my own account of 500,000usd for me to trade. I knew I wasnt going to risk much as I practised for 6 solid months. I had a system that worked for me so I wanted to test it out. I also invested my other available investment amount with Citi Bank, Barclays Bank, Credit Suisse, Thorex Investment, HSBC in their client fund programmes.

    You should not invest all money in just forex. I invested in all sorts of investments ranging from Stocks, Bonds, Forex, Metals.

    My own investment in forex trading using my own system so far has made me in the last 2 years around 42%. I would say its an achievement considering my friends have all lost money trading on their own. I have come out alive, and damn it, I feel so good.!!

    The returns made from diversifying my portfolio in total has been 170% in the last 2 years. I would say however a large portion of the profits came from Thorex Investments. So its good to see an independent company such as Thorex Invesment making larger profits than big sized banks.

    There is plenty of information on the net to make sure you dont make mistakes.

    I cannot explain my system as its a bit complicating. Everyone needs to learn their own system that works for them. Its always nice to enjoy your fruits of labour.

    MONEY MANAGEMENT IS THE KEY TO SUCCESS SO LONG AS YOU HAVE A SYSTEM THAT WORKS AND DIVERSFYING YOUR PORTFOLIO! I cannot stress this anymore.

    I have known some bank traders who only risk tiny amount. They are not so great traders to be honest when compared to some highly profitable traders. Because the bank traders end up making around 12% and they think this is a success. Some even end up making only 5%. Fair enough your money is safe but damn it, we need to cash in.

    I dont think this is helpful advice for many newbies with small amount of cash. But I am sure there are a few of you with 100,000usd investment which might be helpful.

  2. #2
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    Hi everybody....

    I've been trying to trade with profits since 2005....in vain... I am so tired and disappointed....

    Guys, all I want is to ask: is anybody using free trade signals provided by www forex-win com? Want to use them myself but need smb's advice first...
    Maybe smb has some good ideas?

    Thanks

  3. #3
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    Default

    you can try myfx profesional for get pip forex

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    check my homepage for best help for beginners.. enjoy
    >BEST WAY TO MAKE MONEY ON THE FOREX MARKET< Visit my homepage! :thumb:

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    The best advice I could give to beginners is:
    Stick with the rule of thumb for trade volume: 1 standard lot for every $50,000 in your account or 1 mini lot for every $5,000 in your account.
    Start with IBFX.com as your broker. They have the best customer service and the highest quality, perfect for newbies.
    See babypips.com for easy to understand Forex info and check out free strategy at forexsafeandsimple.com, but ALWAYS practice in a free demo account first!

  6. #6
    Show Me The Money! Jester00's Avatar
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    Default Re: Helping hand for beginners

    Quote Originally Posted by forex_market09 View Post
    check my homepage for best help for beginners.. enjoy
    what is your home page?

  7. #7
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    Default Re: Helping hand for beginners

    Thanks for info

  8. #8
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    Default Re: Helping hand for beginners

    I would like to add that there is always a risk involve in Forex trading. One must get educated to understand forex. As a forex beginner it is quite difficult to make money currency trading. Finding which forex strategies work can be hard. It is not advisable to spend money on expensive forex courses as it is possible to get all the info you need to be a successful forex trader online for free. Forex trading forums like this one are usually good resources. I would also advise getting a company that does free forex seminars / webinars. I would advise company like makemoneycurrencytrading dot co dot uk as they teach you their strategies for free.

  9. #9
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    Default Re: Helping hand for beginners

    In the network a lot of information about forex. I found a simple and interesting e-book. It is called"Three words about Forex" It contains three articles for beginners.
    How to start trading.
    How much money do you need to invest.
    and many other things are on this site freerobot2010. com

  10. #10
    Pippier Than Thou! adam2011's Avatar
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    Default Re: Helping hand for beginners

    Quote Originally Posted by Lucky Trader View Post
    Hi everybody....

    I've been trying to trade with profits since 2005....in vain... I am so tired and disappointed....

    Guys, all I want is to ask: is anybody using free trade signals provided by www forex-win com? Want to use them myself but need smb's advice first...
    Maybe smb has some good ideas?

    Thanks
    I faced same problem you are facing .. i couldn't make profits for a long time .. try the Technical Analysis .. and use demo accounts first to trade .. when you are ready to trade you can use real accounts .. don't risk ur money in vain .. and i know a good free trade signals they are called Wall Street Brokers.

  11. #11
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    Default Re: Helping hand for beginners

    Quote Originally Posted by gladiatorfx View Post
    I was a beginner like all of you two years ago. I started with 20,000usd account and ended up with 2,000usd after 3 weeks. Its a lot of money to lose.

    I had to learn the hard way but I am a very lucky man as I am in my 40s and have amassed a great fortune. This was just little pocket money for me :grin:

    I went back to the drawing board. I realised I need to do research. I spent 3 months trying out my strategy on demo account. Then after 3 months of successful trading, I opened a live account with 2,000usd. It was a mini account of course. This time I used good money management rules. I only risked around 1% of my account. For all beginners this means I will only lose 20usd per trade. This gave me longetivity and after 3 months I was up 7% which is very good considering I am a newbie.

    My bank manager requested me to diversify my portfolio instead of me trading my own money. So I ended up opening my own account of 500,000usd for me to trade. I knew I wasnt going to risk much as I practised for 6 solid months. I had a system that worked for me so I wanted to test it out. I also invested my other available investment amount with Citi Bank, Barclays Bank, Credit Suisse, Thorex Investment, HSBC in their client fund programmes.

    You should not invest all money in just forex. I invested in all sorts of investments ranging from Stocks, Bonds, Forex, Metals.

    My own investment in forex trading using my own system so far has made me in the last 2 years around 42%. I would say its an achievement considering my friends have all lost money trading on their own. I have come out alive, and damn it, I feel so good.!!

    The returns made from diversifying my portfolio in total has been 170% in the last 2 years. I would say however a large portion of the profits came from Thorex Investments. So its good to see an independent company such as Thorex Invesment making larger profits than big sized banks.

    There is plenty of information on the net to make sure you dont make mistakes.

    I cannot explain my system as its a bit complicating. Everyone needs to learn their own system that works for them. Its always nice to enjoy your fruits of labour.

    MONEY MANAGEMENT IS THE KEY TO SUCCESS SO LONG AS YOU HAVE A SYSTEM THAT WORKS AND DIVERSFYING YOUR PORTFOLIO! I cannot stress this anymore.

    I have known some bank traders who only risk tiny amount. They are not so great traders to be honest when compared to some highly profitable traders. Because the bank traders end up making around 12% and they think this is a success. Some even end up making only 5%. Fair enough your money is safe but damn it, we need to cash in.

    I dont think this is helpful advice for many newbies with small amount of cash. But I am sure there are a few of you with 100,000usd investment which might be helpful.
    This is really just so nice of you to share

  12. #12
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    Default Re: Helping hand for beginners

    For all the newbies out there i just want you to know that i know how frustrating is it not to know what to or how to do it and i want to give you a nice article of how to start with :first of all you need is a TRADING PLAN :i have an article here which is very important and a little bit long i might post it over several replies ,it is about futures but when we are talking about the trading plan it is the same thing no matter if it is forex ,futures or stocks:
    We all know that creating a trading plan is the first step to trading .Find out how one futures trader creates a plan and follows it.by John Norris.
    Many individuals lean toward one or the other,but traders must do both .Traders must be patient and disciplined and accept that they will not have a choice regarding when a trade scenario will unfold .Traders just need to be in the habit of being at their stations every trading day rested and relaxed and ready to make their moves .
    This plan concentrates on following all markets with the understanding that they will always follow their path of least resistance .If you are a novice, you need to do your homework and remember that futures(or forex) trading carries risk of loss .

    HERE'S THE PLAN
    Prior to any analysis i need to be able to see the market on three timeframes simultaneously , a tactic i was introduced to in Alexander Elder's book Come Into My Trading Room.Once i have the three charts in front of me , i determine the long ,intermediate ,and short term trends for the daily ,240 min and 60 min charts .This is the total of nine directional determinates that i break down into a directional ratio.I record these on a simple grid with up arrow ,down arrows ,or a hyphen indicating neutral or sideways.
    With this setup , the short term trend is considered 15 candle bars or less ,the intermediate-trend is 16 to 49 candles ,and the long term trend is more then 50 candles .I make these determinations from the market's highs and lows ,trendlines and from moving averages .An example of this would be (5up/2 down/2 neutral) which would lead me to lean toward buy triggers ,particularly if the up arrows were coming from the daily and 240 minute charts .I can choose to trade or take triggers off shorter-term time frames , but i always use the daily ,240 minute,and the 60 minute charts to give me the directional ratio and aid in determining between trend and countertrend trade triggers signals.
    For long term trading you can use the daily charts to key off the weekly charts to check the long term trend ,and the 240 or 60 min charts for trade triggers.For intermediate term trading you can use a 240 or 60min chart as the primary timeframe to key off , with 15 minutes or even 5 minutes charts for the triggers .The primary decision you will have to make is what timeframe you should trade .
    Regardless f what timeframe you decide to trade ,you still want to take your directional ratio from the daily,240-,60 minutes charts.I personally trade the currency market using the 15 minutes and 5 minutes charts.Then is just a matter of staying in the now , as trader Bil Williams calls it.All i need to follow is the trend on the 60 -,15- ,and five minute charts ,and because im trading such a fast timeframe , i need to know of any major economic releases pertinent to the market im trading .Major economic releases are noted on online calendars or economic publications.

    TRENDS AND COUNTER-TRENDS
    I focus on two types of trades trends and counter-trends.All trends start with a counter-trend move ,this is the fractal nature of markets .Markets go up and down and sideways to their own beat, and every segment can be broken into a smaller fractal of activity.Any market is unique in that it is manmade,yet follows a seemingly unpredictable pattern more akin to nature than science .The markets remind me of a saying :"Chaos is the law of nature ;order the dream of man" .To trade this plan you need no knowledge of chaos or order ;you just need to show up at you station everyday and go with the flow of the market .
    Typically , there is tendency to make more per trade with the trend then a countertrend.Trending price action is when a market follows its path of lest resistance or its predominant impulse,and it is marked by an obvious direction.A downtrend is marked by lower highs and lower lows on the price chart ,and an uptrend is marked by higher lows and higher highs. A counter trend trade is marked by indecisive price movement with every bit of price action providing resistance one day then support the next and is seen as sideways price action .Markets spend more time counter trending then trending , but we must know how to trade in either environment.
    You should know how to gauge with a glance the primary trend in any market.You cn easily do this with the naked eye ,but you will see how to use simple and exponential moving averages to aid you as well .
    Initially , you will identify the current charts long term trend by noting the pattern of highs and lows or lower highs and lower lows and also the slope of your long term moving averages .
    I use a 144 day exponential moving average for trading currencies and 50-,and 200 -day simple moving averages for futures .To determine the intermediate-term trend , i also use the pattern of highs and lows and the 18-bar simple moving averages,and for the short term 5&5 simple moving average cross,which is a 5 bar open simple moving average coupled with a five bar close simple moving average.When the 5 close is above the five open the short term trend is up ,and when the 5 open is above the 5 close the short-term trend is down .
    Professional traders say that the way to make money trading currencies to know how to buy support and sell resistance ,so that's where i'll start .In addition,as we are day trading in quantities greater than one contract ,i suggest always looking to take two thirds of the position off at an approximately 20- to 30-pip profit target depending on the structure of the chart .

    BUYING SUPPORT AND SELLING RESISTANCE
    Before trading i always know the current long-,intermediate-,and short-term trends for the daily ,240-,and 60 minute charts ,which is determined by the market near-term past and current price behavior,or directional ratio .At this point i also determine where and what time the last trigger fired on my primary time-frame (the 15minutes chart )because this is the predominant timeframe i trade .Next ,i mark trendlines and channel lines ,and support and resistance levels such as previous daily highs or lows, and pivot points.
    It is always noteworthy when a market or currency pair stops and then turns at a significant support orr resistance level such as trendlines or channel lines,or at previous daily highs and lows.No matter which way the trend is ,the natural behavior of markets is to oscillate ,up and down and back and forth ,seeking out the path of least resistance .This is why trading support and resistance levels are so important.
    It is at these junctures ,or fractals ,that a market price action is currently bounded and its previous direction reaffirmed .When i see a market stop on a trendline with similar confluence of technical tools such as moving averages ,pivot points or Fibonacci levels, than i know i am a step closer to a trade trigger .
    The second event i look for prior to a trade trigger is for the market's technical indicators to fulfill specific conditions.These conditions are "an order of operation" that the indicators need to fulfill to shift from corrective or countertrend trade , to impulsive or trending trade .It is at this shift ,or trigger,that i initiate a position and go with it until the market hits support and resistance and downshifts from impulse trade back to corrective action.This technique is used only for buying support and selling resistance .Later , i will spell out hw to trade breakouts ,which are less common in currencies relative to the percentage of time that support and resistance holds . (see sidebar "Cheat sheet" on the next page )
    So the market determines the parameters of your operations , while trendlines or channel lines and other support and resistance levels determine the market parameters.Previous highs and lows and the trendlines
    or channel lines drawn from them are the most important occurrences on a price chart .I would also add pivot points ,longer term moving averages ,nd Fibonacci levels to this list.
    Significant support and resistance levels also illustrate the other side of the market, if they do not hold ,despite a shift in the order of operation , the market will revert to its path of least resistance and either continue to countertrend trade or shift to impulse trade in the other direction.
    When you board an airplane , do you ever look left as you're passing the cockpit and see the console full of indicators and gauges??They look intimidating to someone who has never flown , but not to the pilot .It would look intimidating to the pilot if there weren't enough gauges or indicators. I feel the same about the charts i use.

    CANDLESTICK CHARTS

    I use candlestick charts exclusively . Like any tool ,single-candle analysis o candlestick formations work better against existing support and resistance .To profit on a trade and identify a coming tend reversal ,i look for possible reversal bars - that is dojis ,inverted hammers ,shooting stars ,and inside bars on resistance. Similarly ,i look for dojis, hammers,and inside bars on support.I also look for combinations of these to identify double tops and double bottoms , preferably with divergence on the moving average convergence/divergence (MACD).

    ADDITIONS AND INDICATORS
    Below is a checklist of additions and indicators that i keep on my chart or, in the case of Fibonacci numbers ,if not placed on my chart , to at least keep in mind .I will spell out how they each apply to trading .
    Lines placed on candlestick charts :

    - Trend lines and channel lines .
    - Previous day;s high and low
    - Pivot points on appropriate timeframe

    Moving averages for trend identification ,support and resistance , and trade triggers :

    - 144-day exponential moving average for currencies of 15 minutes
    - 50 and 200 day simple moving average for futures and indexes over 15 minutes
    - 18-day simple moving average for all markets over 15 minutes .
    - 5&5 moving average crossover on all charts.The 5&5 moving average crossover is a 5 simple moving average set to the close and a 5 simple moving average set to the open on all markets.

    Technical indicators placed on chart :

    -MACD histogram (12-26-9)
    -Relative strength index (RSI)set to 14
    -Slow stochastic (12-3-3) This is not all if you want the continuations just PM me because i cannot post the whole article ( too many characters )

  13. #13
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    Default Re: Helping hand for beginners

    The impersonal hand of government can never replace the helping hand of a neighbor.

  14. #14
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    Default Re: Helping hand for beginners

    Hi, Initially I used demo account facility provided by http://www.avafx.com/ , it helped me lot to understand various transactions. Then I started doing actual transactions.

  15. #15
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    Default Re: Helping hand for beginners

    For all you beginners: I would suggest you learn the forex world: both by experimenting and doing your research. There are a lot of great resources for learning forex basics, particularly introductory slideshows on Slideshare. Once you have the basic understanding you can learn strategies at sites such as such Everestforex (great site, very friendly, gives you $100 real money to start with), also check out The Learn-Forex-Blog

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    Default Re: Helping hand for beginners

    Quote Originally Posted by gladiatorfx View Post
    I was a beginner like all of you two years ago. I started with 20,000usd account and ended up with 2,000usd after 3 weeks. Its a lot of money to lose.

    I had to learn the hard way but I am a very lucky man as I am in my 40s and have amassed a great fortune. This was just little pocket money for me :grin:

    I went back to the drawing board. I realised I need to do research. I spent 3 months trying out my strategy on demo account. Then after 3 months of successful trading, I opened a live account with 2,000usd. It was a mini account of course. This time I used good money management rules. I only risked around 1% of my account. For all beginners this means I will only lose 20usd per trade. This gave me longetivity and after 3 months I was up 7% which is very good considering I am a newbie.

    My bank manager requested me to diversify my portfolio instead of me trading my own money. So I ended up opening my own account of 500,000usd for me to trade. I knew I wasnt going to risk much as I practised for 6 solid months. I had a system that worked for me so I wanted to test it out. I also invested my other available investment amount with Citi Bank, Barclays Bank, Credit Suisse, Thorex Investment, HSBC in their client fund programmes.

    You should not invest all money in just forex. I invested in all sorts of investments ranging from Stocks, Bonds, Forex, Metals.

    My own investment in forex trading using my own system so far has made me in the last 2 years around 42%. I would say its an achievement considering my friends have all lost money trading on their own. I have come out alive, and damn it, I feel so good.!!

    The returns made from diversifying my portfolio in total has been 170% in the last 2 years. I would say however a large portion of the profits came from Thorex Investments. So its good to see an independent company such as Thorex Invesment making larger profits than big sized banks.

    There is plenty of information on the net to make sure you dont make mistakes.

    I cannot explain my system as its a bit complicating. Everyone needs to learn their own system that works for them. Its always nice to enjoy your fruits of labour.

    MONEY MANAGEMENT IS THE KEY TO SUCCESS SO LONG AS YOU HAVE A SYSTEM THAT WORKS AND DIVERSFYING YOUR PORTFOLIO! I cannot stress this anymore.

    I have known some bank traders who only risk tiny amount. They are not so great traders to be honest when compared to some highly profitable traders. Because the bank traders end up making around 12% and they think this is a success. Some even end up making only 5%. Fair enough your money is safe but damn it, we need to cash in.

    I dont think this is helpful advice for many newbies with small amount of cash. But I am sure there are a few of you with 100,000usd investment which might be helpful.

    Well gladiatorfx,
    Thanks for your great tips about helping hands and we surely keep it in our mind before take any further steps ahead.

  17. #17
    My Pips Are Growing Spirit of J.L.'s Avatar
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    Default Re: Helping hand for beginners

    gladiatorfx, thanks for you advices! I also think that money management ant control of your own emotions are the key factors to successfull trading.

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    Default Re: Helping hand for beginners

    Hyips have a much lower risk,and remain the most profitable form of forexin income. Try one or all of these links:
    ( http://www.hypercompound.com/?aff=fast )
    ( https://www.neoprogress.com/?ref-Rc2MBtb )
    ( http://www.reprofinance.com/?ref=G20484 )
    ( https://www.alertpay.com/?VqWMsEuf7y...gYG%2fvw%3d%3d )
    Big profits are realistic, especially if you want to use their referral programs. Amazing.

  19. #19
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    Default Re: Helping hand for beginners

    Quote Originally Posted by Lucky Trader View Post
    Hi everybody....

    I've been trying to trade with profits since 2005....in vain... I am so tired and disappointed....

    Guys, all I want is to ask: is anybody using free trade signals provided by www forex-win com? Want to use them myself but need smb's advice first...
    Maybe smb has some good ideas?

    Thanks
    Hey I will suggest you to open demo account at https://www.avafx.com/Demo-Registration/
    so that you will get more details regarding forex transactions and you can also test yourself here. Good luck!!

  20. #20
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    Default Re: Helping hand for beginners

    You can try to learn from other traders using Copy Trader or social trading for instance here
    http://forexsure.net/services/top-br...ith-etoro.html

    you can see who is trading what in real-time

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