New to Forex Trading

[senumouv]

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

That would depend on the profits you are making with virtual money. Like I demo traded for two months with xm and fxview before going live with them. The sole reason is to acquaint a trader with the platform features and to fine tune the trading strategies. There’s no harm in demo trading for even 5-6 months to stay profitable in the long run. Depends on a trader’s learning capability.

 

[tedmos38]

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

The timeframe depends upon your trading style, if you are day trading then you can look at H1, H4 and Daily. So you need to define first that how you will trade... scalpers will stick to 1min, 5min etc etc

 

[Laura48]

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

If you're still unsure, then I would suggest you to spend some more time on demo account only. Just work on your skills and especially boost up your confidence a little, then start with a live account.

 

[yana hansen]

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

How profitable have you been?

 

[Xwell]

If you lack confidence, you need to refine all your skills until the moment when you are ready to take a step and trade on a real account.

 

[heispark]

Are you ready to waste 10 years in your life? My simple advice is just don't do it and find a job.

 

[Marvini]

All beginners have a hard time at the initial stage, if you overcome this and give yourself time to figure everything out, the result will not be long in coming.

 

[Ahmed Solaiman]

the newcomers always try to bring profit by using high leverage but in practical it could be dangerous if there is no money management including real trading plan.

 

[JimmyChoo]

high leevrage means high risk its not true , if there is any risk it is completely with non sense trading planning including poor money management.

 

[Stephen Andrew]

the new Forex trader always ignore the importance of demo but its the master place to become a knowledgeable trader very rapidly.