First Time Investors

[megawealth]

There are so many specialists and professional investors here - thats great - but how about a thread for beginners who should actually be able to use this Robot without having to spend a fortune to risk and learn and keep searching for correct Lots/LRR and...
How about just starting on a shoestring budget and then growing with it ?

Is there any Specialist/Professional who would like to act as a Tutor and help us new investors ?

Low Startup – You can start with as LOW as $50!

All you need is to know how to download a program (actually, most of that is also taken care for you!) and thats it!

FAP Turbo actually installs alone...you don't even have to do that.

and... and..

How about a Setting List for:

1. Low Budget
2. Moderate Budget
3. Professional Budget

Thanks

[dcrowley06]

I like the idea. The unfortunate part is that the EA came out a week and a half ago. Most people haven't even switched to live accounts yet. Plus, each of us has different ideas of what is too risky for us to even think about trading with.

I think over time, you will begin to see a consensus of which settings are valid to change and whatnot.

But I will go ahead and start with the very first rule for new users. :)

1) Never put more money in your account than you are willing to lose.

Ok, here is rule #2

2) The best idea for new users is to triple your initial investment and then pull your initial investment you made out. You are now playing with money that you earned.

Now if you are a previous investor, I wouldn't follow step 2. The more money in your account the less likely you will get hit with a margin call. But a lot of new investors tend to emotionally attach themselves to trading and panic when the chips are down. It will be a lot more reassuring to a new investor to know that your original investment is now safe in your bank account and you are now playing with "extra" money. Less chance for emotions to interfere.

There are lots of other rules for new investors to follow, but these two are how I started and they served me well.

[alan]

There are so many specialists and professional investors here - thats great - but how about a thread for beginners who should actually be able to use this Robot without having to spend a fortune to risk and learn and keep searching for correct Lots/LRR and...
How about just starting on a shoestring budget and then growing with it ?

Is there any Specialist/Professional who would like to act as a Tutor and help us new investors ?

Low Startup – You can start with as LOW as $50!

All you need is to know how to download a program (actually, most of that is also taken care for you!) and thats it!

FAP Turbo actually installs alone...you don't even have to do that.

and... and..

How about a Setting List for:

1. Low Budget
2. Moderate Budget
3. Professional Budget

Thanks

Well Sir I believe many already do act like a tutor to beginners. There are many informative threads on this forum. However if you're suggesting a formal and structured "course" or something of that nature which will save beginners the work of digging through this forum, well, that would be a bit more tricky as it would involve a lot of energy on the part of whoever is doing this tutoring.

It really does not take any more $ or energy to use fapturbo. There is no special settings you have to search for. Just use the default settings as they work fine. Lot sizes and LRR and other such settings are all explained in the fapturbo manual and FAQ section (members website).

As for custom settings for certain account sizes, that really is a personal issue as some people are prepared to risk more some are not, and nobody else can really tell you what to set your risk settings at - that is a personal thing you must do. As a general guideline I alwasy suggest that people not risk more than 10% of their account. But then again I know some folks here use 20% +

For newbies needing help with installing + running fapturbo I believe this forum section is what they're looking for:

http://www.forexautopilotforum.com/forumdisplay.php?f=22

[dcrowley06]

I don't know if you mind me linking another site that was SOOOO helpful for learning the basics of FOREX trading. I still have this site bookmarked and often find myself going back there to read up on things I have forgotten.

But the site is called www.babypips.com

When you go to the site, first thing you want to do is hit the "School" tab. Seriously, I don't even think you should open a FOREX account before reading through this training. Now, obviously this is not for trading with EA's and specifically not for using FAPTurbo, but the fundamentals are so important that it will make you a better trader knowing these things.

I don't usually like to post in one forum that redirects people to another website for information, but they really did such a great job on the site and you will definitely come back here knowing a whole lot more if you are a beginner. Just a note... I am in no way affiliated with either this site or the other one... I just love both of these sites for the information they provide.

:)

[megawealth]

I thank all who are actively participating here to make it a little easier for the beginners. I still think a listing of the settings as per the criteria above will definitely help all to a better orientation. They can still experiment as per their investment profiles.
Thanks for your support.
Regards

[alan]

I don't know if you mind me linking another site that was SOOOO helpful for learning the basics of FOREX trading. I still have this site bookmarked and often find myself going back there to read up on things I have forgotten.

But the site is called www.babypips.com



No worries dcrowley06, that's one website that I recommend myself and I have no problem with you posting a link to it.

The "school" section is a MUST for beginners.

[alan]

boom007 what exactly do you need help with?