yup, let them burst for the very first time then they will learn

what do u need?

Hi sir, thank you for your reply and it is very much appreciated!
I would like to ask how did you start your journey from where and how did you start? So that I can have some ideas to follow and take advises. ( Ps : I'm also quite new to lowyat and have no idea how to type those pretty emoticons I saw u all use >.<)

Trading is not easy, it involves a lot of arts and intelligence. Pick any job in this world, doctors, lawyers, engineers, etc., majority of the people who studied them could become one. Let's say 100 people study medicine, majority of them will become doctors, or maybe half? Not sure, but many will.
However, trading is different, in 100 people, I would say only 1 person could make it. Some say 5%, but the really profitable ones are probably less then 1%.

You can start off with http://www.babypips.com/school

In essence, trading involves 3 components:
1. An edge (A system or trading method which works)
2. Money management
3. Psychology (Discipline)

Hi forex traders lowyat, I just started forex 2 weeks ago and still consider newbie level. Been reading many forum and testimony from experience forex trader earn big sum money and then lost it all and start from beginning again due to greed. I constantly remind myself not be greedy and just finish for the day after getting 30 pips following my friend advice.

Somehow i nearly able to double my initial equity yet i don't feel confident and forex is seems like guessing market news and buy/sell the right timing but with higher chance of winning than casino. That's what my thought of forex.

@zanmai
I read that you are a full time forex traders, may i know your targeted pips daily and your targeted percentage win daily? =)

You wan to know where I start? It's gonna be a journal stories man. Btw, all your question below already answer u. Newbie, not recommended to live trading yet. Unless u got a lot of money to burn.

I put a daily target of $100-$200 per day. If I archive it then I'll stop. If no then I'll call it a day.

Well, I had make enough from forex in previous. Now I only take it as additional income. Like $500-$1000 weekly I already satisfy. Not being greedy is key point.

May I know how do you trade mostly? open position base on news exact time release? Or do you open position using your own method by reading the graph analysis?

How do I trade? Sorry I'm not gonna expose any information about this. Hahaha

I got this technique based from my bursting experience and so far so good. Making money. Works.

Actually I can make more than 100k USD per month but if broker see you keep withdrawing, they will stop it and said your account is terminated due to some bla bla bla..

So I do set a limit for now. Not worth it when that issue happen. Pls take note bout it too. Broker have all the speaking power.

If you could make that much, change your broker. Go for Interactive Brokers, Dukascopy, LMAX, or Currenex brokers. You withdraw USD$1 million a month also no problem.

Not necessary, if I wan to make 100k monthly. I'll need a huge capital. So it's very risky. I don't wan take such risk as the four - five figure profit already satisfy my wants.

How well u know the broker, when he wan to scam. He will never let u know. I met too many scam case. I don't wish to be another victim again.

You can google about it. There's a lot of forex forum listed.

Hahaha! Good for you able to turn around from bursting chapter into successful successful chapter. I guess if ppl able to trade successfully with smaller lot size, they too can trade bigger lot size.

I guess.... problem start when the feeling of successful / greedy in trading forex, they increase lot size and if the running trade amount range fluctuate from -$1000 or -$2000 will eventually panic them emotionally.

You must be emotionally stable and tough to trade daily 2k - 5k USD to reach 100k USD per month. hahaha!! Damn!!!

Trading 101: Preserve and protect your equity, repeat after me oohhmmm
If you can win 80% of the time, it's not called gambling any more, it's called
odds stacked in your favor, demo trade more, don't count the money, count the PIPS

I got my technique. Even floating -1000 also I won't be emotional anymore but this not gonna happen. There are something u need to avoid during trading. I believe soon u will found out.

Happy trading.

Preserve and protect your equity
Preserve and protect your equity
Preserve and protect your equity
Preserve and protect your equity
Preserve and protect your equity

haha. Don't have the seriousness feeling when trade demo. I prefer trade with 0.01 lot size in real account and do testing from there.

If you are just starting, it's better to demo first. It is psychologically better. Because if you keep on losing, you will be emotionally affected and you will hate forex, and you will leave forex. Demoing is the best way to preserve and protect your equity.

Thank you sifu Zanmai and sifu Carrer! I'll start exploring Carrer's link first

Instead of a demo, i always encouraged people to start trading with 0.10/pip.

It is a good practice emotionally. Trading demo will not give you that experience. Once you switch from demo to real, it's not a pleasant experience. It take years of experience to be able to control emotion and or be able to break even.

True. I started since with small amount. Totally different the trading experience.