Newbie questions.

[Veritas77]

Hi!
I'm relatively new to the market, and I'm currently looking for resources in the subjects of Fib's and scalping. Also, I'd like to hear some opinions regarding scalping as technique - would you recommend it for a complete beginner? I've been trading for a month now, and I've lost some (imaginary as well as real) money... I've tried different techniques, but haven't found what I'm looking for yet. I'm interested in scalping because this is something I can do 24/7, which suites me very well.

So any info on either Fibonaccy or scalping (preferably including some exercises or practical advice) would be extremely helpful.
Thanks!

[Raul Lopez]

Hello Veritas,

For a complete beginner I would rather recommend a day trading technique. The reason for this is because you first need to understand and feel the personality of each currency pair. They all behave differently and the best way to study them is to adopt a day trading technique. As you get more experienced then you can switch to a scalping trading style.

Regarding Fibonacci, it is a very well known technique to determine (or forecast) retracement levels. Also other traders trade with EMAs or SMAs using different Fibonacci numbers to determine also reaction levels. I use EMA(144) as an important support and resistance on every time frame.

Hope this helps.

Raul

[alex.stewart]

i dont think you should go for scalping as a beginner. because it needs more practice and more professionalism to be a scalper.


go for the 15 minutes 1 hour charts....less risky.

[duvuacris]

I am a beginner, so between Fibonacci and scalping, where is better one? I?ve heard about both of them, but I don?t know which one to use. I really appreciate if you can help me.

[stefy]

Hello I am new here but this thread is too difficult to understand. I am just a beginner and I want to get started in forex. What can I do?

[nanytookex]

That was my first school of forex. I really like the way they can teach everything about forex. That?s good!!!!

[stefy]

Thank you three, I am doing the school now, but I have been wondering how many courses should I do before getting a practice account?

[Anne09]

Hi!
I'm relatively new to the market, and I'm currently looking for resources in the subjects of Fib's and scalping. Also, I'd like to hear some opinions regarding scalping as technique - would you recommend it for a complete beginner? I've been trading for a month now, and I've lost some (imaginary as well as real) money... I've tried different techniques, but haven't found what I'm looking for yet. I'm interested in scalping because this is something I can do 24/7, which suites me very well.

So any info on either Fibonaccy or scalping (preferably including some exercises or practical advice) would be extremely helpful.
Thanks!

I too feel the same as Raul scalping is not for beginners. Beginners must avoid doing scalping as it requires lots of concentration and experience to cut off the market diverts in another direction. Scalping strategy attracts most of the trader because of its time and return ratio. But if its not your day it can be very dangerous. So stay safe at least when you consider yourself a beginner.

[forex_TINE]

I’m more of a fundamental trader, don’t use so much indicators, they are kind of complicated for me… I base my trades on the market sentiments and results to trade. My broker ACM has a news tool on the platform that gives the market sentiment about 15 min before an announcement and then another review as soon as the results are out.
I think that is the easiest way, and quite profitable too ;)

[fxcbsar]

Thank you for your topic

Good luck