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How to Start Profitable Forex Trading

This is a discussion on How to Start Profitable Forex Trading within the Forex Beginners forums, part of the Forex University category; Forex market is the world’s largest financial market, where millions of transactions take place everyday. Today all types of investors, ...


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  #1  
Old 10-30-09, 01:29 PM
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Default How to Start Profitable Forex Trading

Forex market is the world’s largest financial market, where millions of transactions take place everyday. Today all types of investors, whether big institution or individual trader can easily start profitable forex trading. Nevertheless, the important point to understand is that beginners in fx trading must have a forex active account, which is provided by forex trading broker, to start forex trading. Besides this, today many forex brokers offer forex demo account so that the beginners can also virtually learn the basic functionality of a real forex account. The fx demo or practice account holder can virtually deposit money in his or her account and may even enjoy forex trading without any fear of financial losses. With the help virtual money of domo account he or she can also buy and sell foreign currencies. Therefore before starting a trading in fx market it is advisable to open forex demo account to get the real experience in forex market and test your trading skills without any risk. When you gain the sufficient experience about fx trading through forex demo account, you may open a live trading account and do actual forex trading.
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  #2  
Old 10-31-09, 07:09 PM
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Quote:
Originally Posted by forextrdr View Post
Forex market is the world’s largest financial market, where millions of transactions take place everyday. Today all types of investors, whether big institution or individual trader can easily start profitable forex trading. Nevertheless, the important point to understand is that beginners in fx trading must have a forex active account, which is provided by forex trading broker, to start forex trading. Besides this, today many forex brokers offer forex demo account so that the beginners can also virtually learn the basic functionality of a real forex account. The fx demo or practice account holder can virtually deposit money in his or her account and may even enjoy forex trading without any fear of financial losses. With the help virtual money of domo account he or she can also buy and sell foreign currencies. Therefore before starting a trading in fx market it is advisable to open forex demo account to get the real experience in forex market and test your trading skills without any risk. When you gain the sufficient experience about fx trading through forex demo account, you may open a live trading account and do actual forex trading.
Thx for all the info. I completely agree with you, be you a Manual Trader or a Forex Robot user, you should first trade on demo ALWAYS. It will save you a lot of money and it will let you win a great amount of painless (almost) experience.
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  #3  
Old 11-16-09, 08:42 PM
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The most complete “newbie section” I’ve seen is the one at broker acmarkets. Explains all about the market and the diff between technical and fundamental analysis.
Forex Education | New to Forex
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  #4  
Old 11-23-09, 02:06 PM
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Here are some simple tips that will help you increase your profit potential prevent you losing money.

1. Select your first broker
2. Get simple method you understand
3. Trade the big trends not trade frequently
4. Work smart not hard
5. The formula to success:

Using Simple Method + With Discipline + Control Risks = Forex Trading Success

Keep these simple tips in your mind you could make some big profits on forex trading.
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  #5  
Old 11-25-09, 11:22 AM
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Default Tips on Success in Trading

I agree with those tips. Before you open a real account try to use a demo account. It provides safety and training of basic training skills.
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  #6  
Old 11-28-09, 05:03 PM
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Quote:
Originally Posted by alessio View Post
I agree with those tips. Before you open a real account try to use a demo account. It provides safety and training of basic training skills.
I agree with both of you. I will add that if you want to trade with robots, you need to look for third party testing sites, like Forex Robots Competition Trading Real Money . I prefer that one, because it does it tests on Real Money.
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  #7  
Old 12-10-09, 02:59 PM
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For me is to find a broker with good customer service. It is absolutely necessary that you can call your brokers office if you have any doubt about the platform or whatsoever. I usually use the chart way of contacting my broker Forex chat but since most people use the phone, you have to make sure the people the other side of the phone is polite and willing to help you
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  #8  
Old 12-10-09, 03:03 PM
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how do i make my sugnature public?
thanks!
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  #9  
Old 12-10-09, 03:04 PM
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never mind, already did it
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  #10  
Old 03-17-10, 09:15 AM
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Hello guys!

I've a really good trick for your forex trading. Open a short and long position on the same currency pair at one time. You should determine the exit target.

Just for a sample:
If you opened your long position on EUR/USD at 1.3801 you can determine the exit target on 1.3815
If you opened your short position on EUR/USD at 1.3801 you can determine the exit target on 1.3787

You can do this actions several times within a business day and you can make profit without a high risk. If you have any better or more safe trading idea please share with me.
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