First Trades

[Sofia.forex]

I think the easiest pair to trade is E/U especially for the newbies.

[forex_news]

Yea go with the EUR/USD or maybe even USD/YEN. And dont use leverage too much.

[fxphil]

I'd recommend you just stick to one pair in any case (for me that's EUR/USD) and keep your risk/reward small. Like Sofia and Somya say, 1:3 is good. You might still get valid set ups where it's 1:2. That's fine, so long as you're never risking more than, say, 1% of your balance.

Have you traded a demo account yet? I'd recommend doing that before putting money into it. Over 90% of all traders wipe out their balance in the first few weeks. Get yourself comfortable and then risk your money.

[Somya Gabriel]

1:3 ratio is a ideal ratio and one should practice demos and only then should start forex trading. there is no such way to put your money in risk like this.\n\nWork out your homework and then only toss your money in forex.

[Sofia.forex]

Thanks forex_news for your advice. Even i prefer U/J after E/U. They are quite easy to predict and thus making some gain in the trades. The most difficult pair for me is GBP/JPY. I become totally fused when it comes to its analysis.

[Somya Gabriel]

Thanks forex_news for your advice. Even i prefer U/J after E/U. They are quite easy to predict and thus making some gain in the trades. The most difficult pair for me is GBP/JPY. I become totally fused when it comes to its analysis.

You will gradually learn with the experience. Even i struggled in the beginning but now its part of my life.

[Sofia.forex]

You will gradually learn with the experience. Even i struggled in the beginning but now its part of my life.

thanks i am just learning. As i am a student only.

[forexguide]

the analysis is one of the basic thing ti consider and also the best thing to start.

[Somya Gabriel]

thanks i am just learning. As i am a student only.

Good to know!

You must make your own strategies to make huge profit. If you do not have a trading plan, make one. If you have a trading plan, follows it strictly! Never ever attempt to hold your weakened position and hope the market will turn back in your favor direction. You might end up losing all your capital if you keep holding. Move on, stay within your trading plan, and admit your mistakes if things do not turn as you want.

[Sofia.forex]

your suggestions are really helpful to me. I am doing demo trading past few months and will soon start with the real account soon. I am also back test some strategies for myself and as i will complete i'll let you know.

Thanks for the help.