New to Forex Trading

[Bentrader1]

You need to look at higher time frames and learn to recognize LEVELS. this is maybe one of the most important pieces of advice to a newcomer. You need to follow a map of some kind and then look for patterns or formations to confirm your bias. Levels can be derived from support and resistance, supply and demand, pivots, Fibo, etc'. Trade the higher time frame and see the reaction on the lower time frame - for example: watch how the H4 candles interact and move to H1 and M15 to see the different formations around the close/open levels. or watch for Fibo levels and look for the reactions on the M5, M15, and H1

 

[Abbas Ali Khan]

its a nice post with more information ,
got so many fine lines , thanks for your nice reply.

 

[Esha.J]

If you are new to forex then I would just advise you to learn to trade on Demo account accurately then step into the Live market. Initially, it may be difficult to handle situations of loss but slowly you will learn.

 

[Andras]

I have just registered here and have a few burning questions please. I am very new to the trading world. I am currently educating myself on chart patterns and strategies. However I would like to know your opinion on the best timeframes to trade and how often a viable pattern may show up. Also, how many forex pairs should I watch/trade everyday. Any and all info would be much appreciated from anybody. Thanks

For time, that would be when you have found a strategy to use. That strategy would tell you what time frame to look at. For example, Scalping requires shorter time frame. have you found a strategy?

 

[Prewste]

Everything needs to be done in stages, and you will understand how to act correctly and what steps to take.

 

[Abbas Ali Khan]

newcomers can start trading in a demo account including psychology of school which contains all level of basic information.

 

[collinggwoodabram]

Everything needs to be done in stages, and you will understand how to act correctly and what steps to take.

Help me out here a bit. I myself am new to trading with my sister as my trading partner. I won’t say she’s doing fine but she ain’t serious about it either. I on the other hand want to take up trading seriously, like a profession. So what needs to be the first step or stage to go ahead in the direction?

 

[senumouv]

Help me out here a bit. I myself am new to trading with my sister as my trading partner. I won’t say she’s doing fine but she ain’t serious about it either. I on the other hand want to take up trading seriously, like a profession. So what needs to be the first step or stage to go ahead in the direction?

If you’re serious about trading as you say, begin with School of Pipsology and learn about the market trends, the currency pairs like which ones are most profitable and what pointers you should follow to avoid losses. This is important for you’ll have better clarity regarding your trading style too. Depending on your time and profile you will know whether you should opt for scalping, day trading, swing trading, or position trading.

 

[collinggwoodabram]

If you’re serious about trading as you say, begin with School of Pipsology and learn about the market trends, the currency pairs like which ones are most profitable and what pointers you should follow to avoid losses. This is important for you’ll have better clarity regarding your trading style too. Depending on your time and profile you will know whether you should opt for scalping, day trading, swing trading, or position trading.

I have actually been demo trading for some months now, not sure if it’s time for me take the leap.

 

[Pegrinn]

On this issue, you should focus only on your strengths and your ability, because if you are already ready, then you should switch to a real account.