New to Forex Trading

I have experience trading about eight years more, but still stick to use trading platform Metatrader 4, this is a very popular platform, although now in my broker already available Metatrader 5 and Ticktrader, I like to use MT4 trading platform.
 
demo is crucial. I started demo like 4 months on hotforex and still managed to blow an account a couple of weeks after, small amounts but we learn from it. its like having an extra life line lol
 
If you are new in forex trading, then i suggest you, first practice with demo trading account. Because, demo account is look like a real account. But for practice demo account is the best in forex trading. Actually its not any limit that, you should watch 5 pairs or 6 pairs. Just you need to know the proper knowledge about that pairs, which you want to trade. such as, you have to analysis fundamental, technical site of that pairs.
But, i think for newbie, the best way is, practice with demo account first.
 
I am still a beginner but I can understand what you are discussing here. They are indeed helpful tips for a trader. A demo account should not be underestimated as after all it can teach you and help you understand the intricacies of training. The second point I would like to mention is to 60 sec trades for example. I personally do not like them at all as the short time frame prevents you from making proper decisions in my opinion. I prefer to think things out.
 
Coner1980 said:
As a newbie you must take start with a demo account and do practice for at least three months and after it start real trading but still consider to invest small capital.
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And how much time should we spend on demo? It took me two days to get up to speed with all functionality at Hotforex demo so I guess demo benefits are overstated
 
You just need to stay calm and educate yourself. Try to make a schedule rather than rushing, even if you can devote a few hours daily, you will start to understand the functioning of the markets and will be able to understand the charts.
 
kroxobor said:
And how much time should we spend on demo? It took me two days to get up to speed with all functionality at Hotforex demo so I guess demo benefits are overstated
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This is only the start of the demo account's utility.

I agree that it should take only 1-2 days to become familiar with the platform, order types, chart preferences etc. and 1-2 days to become comfortable with a beginner's strategy.

And a beginner should only be using a text-book strategy, not something they are building from the ground up, testing and proving as they go.
 
the newcomers always fall a great trouble when choosing a broker , because most of the brokers in online are found to be scams. its really a major problem right now.
 
Abbas Ali Khan said:
newcomers always looking for a trading Mentor for bring good result , what you think guys this approach is okay or not.
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I will say this approach is not correct as a lot of spammers are sitting over the internet who misguides new traders and often deceive them. A new trader must build up some basic knowledge by himself and should learn advanced thing from a mentor.
 
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