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How to success in forex?

Discussion in 'General Business' started by Monirul Islam, Nov 14, 2012.

  1. #1
    Some one tell me how to success in forex or basic rule?
     
    Monirul Islam, Nov 14, 2012 IP
  2. zeesales

    zeesales Active Member

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    #2
    The first thing is you have to study the market. Study the charts, patterns etc. Study the market conditions and news. How these news or happenings affect the forex market. Study only one currency to dollar. Do not mix currencies. This will be a puzzling situation. So study is the basic. If you do not want to study, then go for online auto software like etoro or alike. But this is too risky. You may loose all of your money. So take care and all the best
     
    zeesales, Nov 14, 2012 IP
  3. mmm555

    mmm555 Member

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    #3
    It seems to risky to even try, in my eyes.
     
    mmm555, Nov 14, 2012 IP
  4. fxlock

    fxlock Well-Known Member

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    #4
    forex trading needs experience so be careful
     
    fxlock, Nov 15, 2012 IP
  5. eToro Team

    eToro Team Greenhorn

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    #5
    Hi all,

    I absolutely agree with everything you've said about the importance of studying, however I'd just like to point out that eToro is no an auto trading software. eToro is a social trading network where people have the chance to copy real live expert traders and build what we call a "people-based" portfolio, wherein instead of managing which instruments you invest in based on market fluctuations, you manage which traders you want to copy and how much funds you allot to each trader based on performance. This is a terrific tool for beginners who are just learning how to trade because you not only have the chance to make profits while learning, but you also get to witness the best in action as you mirror their moves. Keep in mind that you retain total transparency and control over your account, meaning that you can see all your copied trades, take over any trade at any time, or stop copying a trader all together whenever you want. If you want to learn more, just check out our social trading platform at openbook.etoro.com, no registration required.

    Hope this helps, and I wish you all happy trading!
    Andy, eToro Team
     
    eToro Team, Nov 18, 2012 IP
  6. newbietocpa

    newbietocpa Peon

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    #6
    I've written a blog post on 21 ways to take your trading seriously @ my blog. These are actionable steps you can take to jumpstart your forex path. But forewarn play demo until you can double your demo account then open a micro or mini account and play with money you can loose sleep over.

    Accumulate trading capital with a 2nd job and built up your nest to a nice five figure. Don't expect to turn $1k to $5k overnight.
    Lastly trade to learn before you trade to earn. You feel better and don't add necessary pressure to yourself. Panic and anxiety are the last thing to happen.

    Regards
    David

    Profiting Pips Where Smart Money Goes
     
    newbietocpa, Nov 22, 2012 IP
  7. iandille101

    iandille101 Greenhorn

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    #7
    Becoming successful forex trader could be a daunting endeavor noting that it is the largest traded commodity in the marketplace. This requires better understanding of the quoted currencies, knowledge on pricing quotation, and selection of low-spread broker. It is also advisable to have demonstration before you finance certain account.
     
    iandille101, Nov 23, 2012 IP
  8. spuneet23

    spuneet23 Greenhorn

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    #8
    If you don't know much on forex , you can join etoro becoz they have one special feature copy trading. This allows you to copy the best traders on etoro. So if you don't know anything about forex then also you can make money
     
    spuneet23, Nov 24, 2012 IP
  9. NetStar

    NetStar Notable Member

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    #9
    And to take your advice further. Using a demo account DO NOT treat it as a game. Treat it as your own money and invest seriously...
     
    NetStar, Nov 24, 2012 IP
  10. eurojack

    eurojack Greenhorn

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    #10
    It takes 10,000 hours just like anything else.
     
    eurojack, Nov 25, 2012 IP
  11. jenyfarlopej

    jenyfarlopej Member

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    #11
    To earn from froex is very hard.
    You should have good idea about market to earn from forex.
     
    jenyfarlopej, Nov 29, 2012 IP
  12. Brian Stevens

    Brian Stevens Greenhorn

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    #12
    Start with the right attitude!
    Attitude in trading means ensuring that you develop your mindset to reflect the following four attributes: patience, discipline, objectivity or "emotional detachment" and real expectations.
     
    Brian Stevens, Nov 30, 2012 IP
  13. arbrasgallery

    arbrasgallery Peon

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    #13
    The best forex trading method is depending on personal preference and choice.
     
    arbrasgallery, Nov 30, 2012 IP
  14. TheCreator

    TheCreator Banned

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    #14
    You have to know when to buy, when to sell by trend prediction, as well as when to close transaction. There are many references about trend prediction, but candle stick technique is the best.
     
    TheCreator, Dec 4, 2012 IP
  15. ovalencia

    ovalencia Greenhorn

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    #15
    Forex is like a stock exchange market, so be careful, study every piece of information and practice using simulator software!
     
    ovalencia, Dec 5, 2012 IP
  16. energetic

    energetic Well-Known Member

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    #16
    can anyone success in using MT4 ea robot trading?
     
    energetic, Dec 5, 2012 IP
  17. Spoiltdiva

    Spoiltdiva Acclaimed Member

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    #17
    Set up a free trial account,talk to people who trade on a regular basis. Also to understand Forex trading you also need to have knowledge on geopolitics. The way things go in the world is directly accountable to how foreign currencies ebb and flo.
    Remember panic and fear drive the currencies up or down, and you will develop a sense on how that all works. You need to keep an eye on mining and raw materials on the stock exchange also(it all ties in). It seems complicated at first but one gets it all eventually.
     
    Spoiltdiva, Dec 6, 2012 IP
  18. Rastler

    Rastler Greenhorn

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    #18
    First - forex requires experience. Second - Forex requires deliberation: today earned a million, tomorrow lost 2. You should be able to stop when everything looks too great. Usually it turns out to be not. 3. There's now particular strategy or tip.
     
    Rastler, Dec 9, 2012 IP
  19. forexking1

    forexking1 Banned

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    #19
    you must learn at least 2 years about forex trading because its too risky
     
    forexking1, Dec 26, 2012 IP
  20. harvy

    harvy Banned

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    #20
    Try to contact some experienced persons in forex trade and get advice. Book works will do correctly. Practicals and experiences only do to some extent. Long experience will do more good.
     
    harvy, Dec 26, 2012 IP