Hello everyone. I'm new here. I am still learning how to trade as I've never traded before. I'm planning to trade everything eventually but I'm starting with FX. Right now I'm still petting with demo versions until I feel comfortable with trading real money. Any advices from you guys for a beginner like me? Thanks.

It's definitely a lot easier than going to work, but only if you learn and know the ways. The rich knows things that the poor don't, that's why they are rich. Working is the first step of gaining capitals, but how many actually saves money and investing in the right things? So many were emptying their banks each month for their cars and credit cards, and they have to depend on their job, which is the only source of income, to survive. Instead of working the whole life, why not learn the ways on how rich people generate income from alternative sources? There's no harm in learning. It's not about being rich quick, but about generating side incomes, which can be major income if learned the right way. Just my two cents.

By the way, on the topic, I started the demo this week and made around SGD20 on EUR/JPY. I'm doing only 1 mini contract. I'm using Singapore's IGmarkets. I'm taking the cheapest account as it's the nearest to my real investment later on. There's a lot more to learn, though I'm feeling great right now, I won't forget the guidelines and risk management. Hehe.

This post has been edited by nahte83: Mar 25 2009, 11:47 AM

I use MetaTrader 4 for charting. You can have all currencies cascaded in the same window which will work at the same time so you don't have to wait when you load another currency's chart.

Maybe he's correct in a way, because statistics shown that only 4% of world population are well-off, and 1% is super rich. So out of 100%, only 5% achieves financial success in life. Everyone has rights to their own beliefs, that's for sure.

I use these indicators:

- Bollinger Bands
- ADX
- RSI
- Parabolic SAR
- 10 days and 20 days MA
- MacD

Fundamental analysis is not to be overlooked as well.

I don't really sit for more than 2 hours, even my mentor doesn't encourage that. If there are no opportunities, I just do other stuffs. If anyone sits for too many hours and loses a lot, there's got to be a problem.

Sounds to me like another 'empire' thingy. Doesn't the boss know about Sunshine Empire? The word 'sunshine' and 'empire' has became sensitive among its victims. The problem with most local companies is that they use a name that is too 'grand' when they had only just started. Look at Apple, cute little name, but what a big brand...

Just like you drive a car, there's always risk involved, but you don't have to be risky, by which you take a driving license before driving a real car, and you drive carefully according to the rules and guidelines.

While there's risk in trading, you don't have to be risky. Just study more about trading and keep practicing on demo accounts until you're familiar with the risks involved where you can make judgments that minimizes the risk taken. Remember to always keep your trades in low volume. Trading $50 x 20 times is always better than trading $1000 x 1 time. Always enter the market defensively. While you can analyze the possibilities and increase your chances of profiting, keep in mind that the market can turn against your favor anytime.

Just my opinion.

Enter Buy AUD on Mar 27, Exit on Apr 12. I heard it's a 93% chance of winning based on its record for the past 15 years.

Anyone can confirm the opportunity?

you know mr. k*****e?

Made 25 SGD within 30 minutes this morning from NZD/JPY. Is that considered good profit? I'm on a micro demo account.

I was using a 15m chart, I guess it's going down when I saw 2 bear candles in succession around the top Bollinger, followed by a parabolic SAR swap from bottom to top, and finally a confirmation from a downward signal at the roof of RSI. I sold a contract and put a limit at the lower Bollinger because I was dressing up and I didn't have time to watch it closely.

I didn't screenshot this one so I guess I'll try to start posting up screenshots of my profits and losses to share my analysis.

boringz, h1 is an 1 hour chart, and h4 is a 4 hours chart. sames goes to the likes of m15, m5, which means 15 minutes and 5 minutes chart respectively.

Guys, I have some questions here:

1) If I set the stop loss level to my entry level everytime I find the opportunity, won't I be minimizing my losses by a lot? I also know that it can easily limit our profits since the price might just fluctuate and trigger the stop, but then, cutting losses are much important than gaining profit, not? Need opinions about this.

2) I am trading using a demo account now. When will I know I am ready for the real thing? Is it when I win 50% of my trades or 80% of my trades? Or is it determined by my loss:profit ratio?

3) For the guys who have been in forex for quite some time, how much you're making daily, weekly, monthly, in average?

Your enlightening answers are much appreciated. Thanks.

You mean consistent.

Thanks, now I know I'm on the right track and latest by next year, I should be making some side income from forex.