Simple Forex trading strategies for beginners!

[KAYGEE]

It's better to develop own strategy from learning....................................

 

[loka heng]

Are you new to the Forex scenario? Are you looking for some useful trading strategies that can help you to grow big in your trading carrier? Then you are reading the right content as we are going to help you with some Forex strategies that will prove to be very useful in kick starting your carrier as a Forex trader. First and foremost thing most of the experienced trader suggest is to try your luck on demo account before you actually start earning or losing money on real account.

Once you start trading in real accounts then following strategies can be very useful for you.

Ø Staying updated is very important to win games in Forex market. keep an eye on all the global economic and political news that can affect the currency you are trading in. Global happenings can have deep impact on the price and direction of movement of the currency. It is better you put e mail alert, alert on your internet browser and text message alerts to receive all the important news on time.

Ø Learn to read the patterns and understand the market trend before taking important decision. Whether the market is moving up or sliding down, a pattern is always present in the market. All you have to do is recognise the pattern, evaluate it against other factors determining the trends of the market, see the past records and then take important decision of buying or selling the currency pair.

Ø It is advisable for a newbie to avoid thin markets initially. This thin market is highly volatile with very less public interest. Don’t let the greed blind your wisdom and take unwanted risk just to lose money in the end. Panic trading can be very dangerous for a beginner who does not have any trading experience. It is better you stick to the facts rather than trading with your gut feeling.

Ø Wise use of margins can act as a money multiplier for you. Trading with keeping margins in hand is a very good thing as it can increase your gains exponentially. But wise use of margins is equally important because if the things go other way round you will lose much more then what you have earned as beginners luck. You can get maximum gains using margins when your position is stable and you are trading on low shortfall risk.

thanks you

 

[surenchd]

Good sharing, forex trading is a journey, I am so glad to find a good forum here to learn

 

[tenungskrin]

Thank you very much for sharing.... im beginner in forex..

 

[tenungskrin]

thank you very much for the information... keep it simple.. thank you again..

 

[alerta.forex]

Excellent advice, I would have saved a lot of headaches if I had found it before ... I just would like to add, it helps a lot if you have a community (like this one) or a mentor to help you in this amazing and fascinating world of forex.

 

[Ash1zn]

Well said brother, money management in super important for success

 

[TraderFoes]

Thanks a lot for that essay, I’m sure a lot of people learnt from jt

 

[surenchd]

Great post, these are very useful points

 

[manybin]

how i find the price and direction of movement of the currency

 

[Esc4n0R]

This is a good reminder for new traders. Thanks for sharing.

 

[raonaeem]

l about eliminating the losing trades and achieving more winning ones.
Is a process of trial and error. To have a chance at becoming successful, you have to get out and try every st

 

[manojtharang]

good work.. Thank you for your post. I too agree that the risk management is very important in trading..

 

[MoolAman]

Good Post. Good Money Management is a key success in Forex trading.

I learned 60% psychology, 20% winning system and 20% risk/moneymanagement