1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Going to stat forex

Discussion in 'Business & Tax Advice' started by ashok, Nov 2, 2009.

  1. ashok

    ashok Regular Member

    Joined:
    Mar 23, 2009
    Messages:
    402
    Likes Received:
    143
    now i am earning decent money daily,,,,, but i am not sure that when i get banned by the network,,,,, so i like to go with the market which won't saturate, makes lots of money and no problems of getting banned,,,

    the only best market which satisfy all my requirements is FOREX,,,,

    i started learning FOREX at babypips and i opened a free account in eToro,,,,,

    share your tips and advice about FOREX,,,,,,
     
  2. ForeverNever

    ForeverNever Power Member

    Joined:
    Sep 17, 2008
    Messages:
    727
    Likes Received:
    365
    I've only heard good things from people that start using forex. I've even seen 2 people leave the internet marketing field for it.
     
  3. ashok

    ashok Regular Member

    Joined:
    Mar 23, 2009
    Messages:
    402
    Likes Received:
    143
    ya i too heard,,,,, even peoples are making more than $1000 per day with forex,,,,, but it needs experience, knowledge about latest economy, etc.,
     
  4. zSpyderx

    zSpyderx Junior Member

    Joined:
    Feb 4, 2009
    Messages:
    196
    Likes Received:
    30
    Make sure you practice with the demo for awhile before you go risk everything. Its something you learn and become an expert at. Not something you can just jump right into.
     
  5. ashok

    ashok Regular Member

    Joined:
    Mar 23, 2009
    Messages:
    402
    Likes Received:
    143
    i know i have planned to use demo account for 1 month before investing $$$
     
  6. zSpyderx

    zSpyderx Junior Member

    Joined:
    Feb 4, 2009
    Messages:
    196
    Likes Received:
    30
    6months is suggested unless you feel fully confident and are doing good in the demo
     
  7. ashok

    ashok Regular Member

    Joined:
    Mar 23, 2009
    Messages:
    402
    Likes Received:
    143
    ya, but 6 months is too much,,, i will use demo account till i double the virtual money they give,
     
  8. ariesto

    ariesto Newbie

    Joined:
    Oct 19, 2009
    Messages:
    24
    Likes Received:
    1
    Home Page:
    Learning forex is one thing and knowing how to trade is another things. I, myself is a trader and when i first started it takes me 6 months to trade in demo version and take me another 6 months to start making some money in forex. Even if you can win in demo platform but when it comes to real trading psychology plays a big part. You need to know two major school of though here, Technical Analysis ( Charting based on historical price and Fundamental Analysis (Trading the latest news).

    If you can search the Big G for those term. Here is a sample site that provide daily update on Both Technical and Fundamental Analysis
    Code:
    forexbio.com
    You can choose to trade manually or using Expert Advisory [EA] or a forex robot. But i would suggest you to start with manual trading. Get a hold of experimenting different strategy from scalping to long term investment. Do not use to high leverage. Write a trading journal and do a summary of your trading result and compile a winning ratio statistic.

    Above are some basics tips that you need to know before considering trading a live account.

    Regards
     
    • Thanks Thanks x 1
    Last edited: Nov 2, 2009
  9. ashok

    ashok Regular Member

    Joined:
    Mar 23, 2009
    Messages:
    402
    Likes Received:
    143
    thank you very much,,, i think you are making great money in forex since you have been learning forex,,,,,

    thanks for the site,,,,,,

    nice info
     
  10. zSpyderx

    zSpyderx Junior Member

    Joined:
    Feb 4, 2009
    Messages:
    196
    Likes Received:
    30
    See even ariesto says 6 months and I think thats a good amount of time for the demo.
     
  11. kijkij

    kijkij Regular Member

    Joined:
    Apr 9, 2008
    Messages:
    254
    Likes Received:
    110
    Occupation:
    Teacher
    Location:
    Pandora
    Home Page:
    And if you stick with one system along with these then you dont need go anywhere.
     
  12. ariesto

    ariesto Newbie

    Joined:
    Oct 19, 2009
    Messages:
    24
    Likes Received:
    1
    Home Page:
    Discipline in trading is very important. For instance, you have a trading systems that has a take profit of 10 pips. and the price is going in your favour and you have 10 pips of unrealizable profit but because of you are greedy and you think that it might go few more pips in favour of you and it ended up with a loss. So a discipline is very important.

    " In Forex world, when a person who has money meets a person who has experience and soon the the person who has money will now have the experience and the person who has experience will then have the money"

    So in forex, it is a zero sum systems.

    I would suggest you to start learning using metatrader platform because it is very user friendly. However when you would like to trade live account please do not use metatrader as most of the metatrader companies have bad reputation and will use lot of ways to make you lose your money.
     
  13. ty180sx

    ty180sx Jr. VIP Jr. VIP Premium Member

    Joined:
    Nov 29, 2007
    Messages:
    170
    Likes Received:
    183
    Location:
    The place i call home
    Home Page:
    im learning Forex myself, been reading babypips, here is another good resource, hxxp://forex-strategies-revealed.com/ and read up on candlesticks by Steve Nison "try to look for his 6hr seminar on rapidshare"
     
  14. ashok

    ashok Regular Member

    Joined:
    Mar 23, 2009
    Messages:
    402
    Likes Received:
    143
    really a wonderful forex definition
     
  15. ashok

    ashok Regular Member

    Joined:
    Mar 23, 2009
    Messages:
    402
    Likes Received:
    143
    already there are lots of tips and more tips are coming,,,,,
     
  16. ashok

    ashok Regular Member

    Joined:
    Mar 23, 2009
    Messages:
    402
    Likes Received:
    143
    can u please suggest a best metatrader company
     
  17. ariesto

    ariesto Newbie

    Joined:
    Oct 19, 2009
    Messages:
    24
    Likes Received:
    1
    Home Page:
    I would suggest you using fxopen and it is a reputable company compared to other big names such as FXCM. If you would like to have some bonus while you sign up for a new forex account then you can go for etoro.

    you might want to read some review on it before starting it.
    Code:
    http://www.forexbio.com/broker-review
    well, there is no perfect brokers here.
     
  18. oxonbeef

    oxonbeef BANNED BANNED

    Joined:
    Jan 4, 2009
    Messages:
    2,242
    Likes Received:
    7,872
    This is a thread that makes me lol. You cannot learn forex overnight, no system for sale
    will make you thousands overnight. It takes years to learn the forex market.
    And@ Aristo, The JV I offered you on ****.bb made me twice as much as i make
    on my trades. FEAR AND GREED
     
  19. ariesto

    ariesto Newbie

    Joined:
    Oct 19, 2009
    Messages:
    24
    Likes Received:
    1
    Home Page:
    Hi Oxonbeef,

    I guess the TS is not trying to learn forex overnight here and he is not hoping to master the forex world instantly. What the fellow does is to get a clear head start here.

    It is very important to get a clear head start rather then go blindly and it is good to share some thought here. getting the knowledge on how to start learning forex is essential.

    and i am not trying to teach him how to make 10k overnight. I just merely share what i know and my experience here and this is what this forum is all about.
     
  20. ashok

    ashok Regular Member

    Joined:
    Mar 23, 2009
    Messages:
    402
    Likes Received:
    143
    first read the thread carefully before you make any post,,,,,,