Page 1 of 302 1231151101 ... LastLast
Results 1 to 10 of 3020

Thread: for newbies: the best way of making money

  1. #1
    Senior Member
    Join Date
    Feb 2012
    Posts
    132

    for newbies: the best way of making money

    I need to know the best way a newbie can make money fast in forex trading also to build up trader confidence
    Is the robot system adviceable for newbies?

  2. #2
    Senior Member
    Join Date
    Mar 2012
    Posts
    1,016

    Re: for newbies: the best way of making money

    I do not think using EA for new beginner trader will build this trader condfidence in her trading. For beginner trader its wisely if he study about basic trading system first like price action before he learn about EA, because basically EA are trading system thats embbedded to programing language.

  3. #3
    Senior Member
    Join Date
    Apr 2012
    Posts
    180

    Re: for newbies: the best way of making money

    New trader can not expect to use a trading robot and be instantly winner. He will need to learn the basic concepts of the market. In addition, he had to test the robot using play money before to start investing real money, so he can familiarize himself with the different features of the robot.

  4. #4
    Senior Member Gazo11's Avatar
    Join Date
    Feb 2012
    Posts
    139

    Re: for newbies: the best way of making money

    It's perfectly logical thing to trade with a robot if you know how set the parameters, the backtest give to you good results and you can put to work the robot the hours of trading required.

  5. #5
    Senior Member
    Join Date
    Mar 2012
    Posts
    1,016

    Re: for newbies: the best way of making money

    @ FX-MA : Knowing forex market structure especially market time in forex market are really important thing to do, if we want to use proper EA setting. Forexample if we use scalper EA we may use this EA in sideway market, ussually after closing of USA session, and if we use a trend follower EA we may use this EA in london session because market ussually trending thats time.

  6. #6
    Senior Member
    Join Date
    Mar 2012
    Posts
    401

    Re: for newbies: the best way of making money

    A proper setting of any EA is must to make profitable trades in the market and for that a trader should first test the EA in demo accounts on different parameters and then see which one of them works the best and makes maximum profits and then set with the same parameter in real account.

  7. #7
    Senior Member Loki's Avatar
    Join Date
    Apr 2012
    Location
    Green TP
    Posts
    1,169

    Re: for newbies: the best way of making money

    I think for a beginner trader must do manual trading without robot, with manual trading you will be more understand about the mt4 platform and you can observe the price movement too. Manual trading gives us so many benefits compare to robot, i guess :grin:

  8. #8
    Senior Member
    Join Date
    Mar 2012
    Posts
    1,016

    Re: for newbies: the best way of making money

    @by Loki : Begiinner trader can learn both manual trading an automatic trading in the same time, because manual trading an automatic trading are unseparatable thing thats a trader must learn if he want to be an expert automatic trader at the end..

  9. #9
    Senior Member
    Join Date
    Feb 2012
    Posts
    132

    Re: for newbies: the best way of making money

    Its very obvious that for a begginner trader its not adviceable to use
    Robots...rather he should try and gain more knowledge of how the
    Market operates and at the same time study how the robots operate
    Using a demo account

  10. #10
    Senior Member seahawks90's Avatar
    Join Date
    Mar 2012
    Location
    INDIA
    Posts
    2,127

    Re: for newbies: the best way of making money

    @tobyhenry i must say that you are right that using robot for beginners is not recommended they must have to do the trading manually because it really enhance their knowledge and experience. :good: :good2:
    DOING HARD WORK IS NOT THE KEY TO GET THE SUCCESS , YOU HAVE TO BECOME A SMART HARD WORKER TO GET THE WHOLE SUCCESS.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
loaded:ok