Newbies needs to trade only two things

Discussion in 'For novice traders' started by Francmorio, Apr 11, 2018.

  1. Francmorio

    Francmorio Member

    A lot of new traders keep asking me, how to trade, which is the best broker, or which is the best strategy. My answer us very simple, the broker plays very little towards your success in forex, other than giving you the best spreads or low commissions, brokers need to have stable platform, However, as a trader, you only need to two things as strategy, only trade two things.
    1. Breakouts
    2. reversals
     
  2. andengireng

    andengireng Member

    in addition to the above two things, the indicator also becomes important when trading forex. Doing business with forex means you make a full risk investment in foreign currency exchange. Forex business has the activity to buy or sell continuously done consistently to gain a profit. To get the peofit we want, it is important to adjust our predictions with the direction of the emerging market. All decisions to sell or buy should use good forex analysis from forex taders. Therefore needed the right forex indicators so that your prediction is not much missed.
     
  3. NewbieTrader

    NewbieTrader Member

    I agree. Until now, i'm still used to trade breakouts :D that's why i use technical analysis specifically based on breakouts. so i guess i'm either lazy or still a noob level :D
     
  4. andengireng

    andengireng Member

    No man.. You are not lazy or noob, every trader use breakout as their strategy because it is simple and all we can do is to follow the trend, right?? So I think you did well and don't worry about the results.
     
  5. NewbieTrader

    NewbieTrader Member

    thank you, man! :D that's nice of you to say. yep, it is simple to follow trends and breakouts. one less thing to worry about while we try to make profit in this cruel world :D
     
  6. Tengkorakfx

    Tengkorakfx Member

    We can say that trend is a friend. But we also have to notice the Break-Retrace thingy since the price movement is in the zig-zag pattern. We can open a trade after the retrace moment in a trend...
     
  7. andengireng

    andengireng Member

    Because forex trading is done online, of course computers / laptops are an absolute necessity for a trader. Forex trading can also be done even with a smartphone or tablet. However, the graph of price movements on the mobile platform will be too small and not ideal for learning forex trading. Therefore, computers or laptops are better choices. You don't need a device with two or three monitors like professional traders, just one computer or laptop. There is no need for expensive computers or laptops as well as professional gamers. The important thing is reliable, that's all.
     
  8. Tengkorakfx

    Tengkorakfx Member

    Well as long as you can set the trades in one monitor, you don't need to complicate yourself with several screens. I prefer to set the trades on computer/laptop and watch the trades on your mobile phone...
     
  9. NewbieTrader

    NewbieTrader Member

    Trend is a friend! Another one-line winner from you :D hahahah
    yes, break-retrace is also important. that is a part of the whole analyzing. it's like looking into a puzzle.
     
  10. andengireng

    andengireng Member

    For newbies, start with demo account!

    I am sure you have heard a lot of suggestions like this. The problem is, just listening to this suggestion is not very helpful for most beginner traders, which is a very unfortunate thing. You must know that you will not trade without spending money.
     
  11. Tengkorakfx

    Tengkorakfx Member


    Well, I kinda agree with this statement. But it's not wise to trade at the very first time with your real money before mastering the trading system first if you want to gain more profits in this business...
     
  12. NewbieTrader

    NewbieTrader Member

    yep, and for those who wants to "up the game" from demo account can also try real account with no deposit bonus. this way, you can try the real time server without using your money (yet). although i myself prefer deposit bonus.
     
  13. andengireng

    andengireng Member

    Beside demo account, newbie needs to know what broker he choose, what bonuses that offered by his broker and about money safe, what bank they use and so many more, but the first one, you need to know how to trading forex, how is the result? profit or not?
     
  14. broforex

    broforex New Member

    Basic knowledge of forex trading that must be understood by new traders, if you want to start learning Forex, then try to find various kinds of information sources. Forex or also called the foreign exchange investment activity is the trading of foreign currency trading with very large capital. Many ordinary people consider it a dark business or some kind of bad thing like gambling. However, that's wrong because Forex movements are occured by the real market.
     
  15. Tengkorakfx

    Tengkorakfx Member

    This might be similar to gambling, but as we can see the chart, we can try to predict the price movement with better odds, so it's far much better than just gambling with low probabilities...
     
  16. NewbieTrader

    NewbieTrader Member

    we cannot really justify that forex trading is not gambling because honestly some traders do treat this like gambling. they don't really read the situation, they just place the orders as if what people do when they're gambling.
     
  17. Tengkorakfx

    Tengkorakfx Member

    Those who are treating this business as a gambling might not be able to hold their trading accounts for months or even years. This was my experience too in the first place trading Forex
     
  18. NewbieTrader

    NewbieTrader Member

    true. in the beginning of my trading, i started with some of my friends. now, only a few of them left. the problem was, those people handled trading like gambling. just guessing them without any analysis. they didn't last long.
     
  19. Tengkorakfx

    Tengkorakfx Member

    It's all the matter of their mentality. A good trader with a good mental would never treat this business as a gamble and would never risk their capital so easily...
     

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