Forex for beginners

[CortneyWilliams]

Hi, I recently started trading Forex and I've started to love it. I haven't used any strategies but I'd like to learn tips and get advices from fellow traders.

I'm familiar in using stop loss and limit buy and sell options and that's about it.

Regards,

Cortney

[capsmart]

Hello Cortney
And welcome to the forum.
What you need is a strategy that will give you an edge and then proper money management and discipline. It sounds simple but it is not easy.
Follow Marc's weekly and daily analysis and Pierre's thread and you will do fine.
Take care
Vassilis

[Tokolosh]

welcome to the forum Cortney. i started much like you and found the help i needed in here. still a way to go for me but i know what the right direction is

[CortneyWilliams]

Thanks for the welcome guys! =)

@capsmart: Yes, I need to find a beginner friendly strategy and that would fit my trading style.

@Tokolosh: I'm still trying to find my niche in Forex Trading. I am experimenting with different currency pairs and trying to get the hang of setting up stop loss and limit options.

[Tokolosh]

Thanks for the welcome guys! =)

@capsmart: Yes, I need to find a beginner friendly strategy and that would fit my trading style.

@Tokolosh: I'm still trying to find my niche in Forex Trading. I am experimenting with different currency pairs and trying to get the hang of setting up stop loss and limit options.

i wish stts was around when i started. would have suited me well. im sure you will find what you need. good luck

[capsmart]

Depending on the place you live you will decide the sessions that are best for you. If in Europe, London and Us sessions are best. If in Us, Us and Asian and finally if in Asia Asian and European sessions.
Even if you do not have a day job it is better to start with a longer time frame (4h/daily). You will have the time to analyze the market and implement your thoughts.
Write down your analysis. Do not keep it in your head. Make a check list of the things you want to check every time. After the fact see if your analysis worked.
When entering a trade you need two limits. The take profit and the stop loss. Never do an analysis without them.
Concerning pairs, start with what you are more familiar. Select 2-3 pairs from the majors. Avoid the "exotics" for a start.

[LEIGH58]

Welcome cortney williams!!!!

[CortneyWilliams]

Depending on the place you live you will decide the sessions that are best for you. If in Europe, London and Us sessions are best. If in Us, Us and Asian and finally if in Asia Asian and European sessions.
Even if you do not have a day job it is better to start with a longer time frame (4h/daily). You will have the time to analyze the market and implement your thoughts.
Write down your analysis. Do not keep it in your head. Make a check list of the things you want to check every time. After the fact see if your analysis worked.
When entering a trade you need two limits. The take profit and the stop loss. Never do an analysis without them.
Concerning pairs, start with what you are more familiar. Select 2-3 pairs from the majors. Avoid the "exotics" for a start.

Okay, I got the most part but what are exotic pairs? I'm currently trading AUD/USD, EUR/AUD and EUR/USD and during up trends where I can't position a trade, I usually go for USD/JPY or GBP/JPY.

[capsmart]

Hello again
Exotics are pairs like Aud/Nzd Cad/Chf Nzd/Jpy etc
Except for the gbp/jpy witch we call the beast with the other pairs you are fine.