Forex education needed, words, robots, trading etc?

[Elmira Nancy]

I wanna learn what words, things needed to trade, how they work, when they work etc. I just need to get educated so i understand what things mean and do in the Forex market. thanks for the help.

[Pinalli]

In order to make money in Forex, a trader needs to educate themselves and learn all there is to know about the market. In the end, the successful trader ends up using a very simple system to profit. There are many online courses that will help anyone learn how trade Forex. Even successful traders are continuously learning and educating themselves on foreign exchange market.

[Tantalus]

Let me recommend:

Baby Pips

Money Pipeline

Forex Tester 2

Start with these educational resources (the third link is to a powerful self-training tool) then branch out to other forex forums like forex factory, etc.

Best of luck~

[Pinalli]

Hi Elmira,

In order to start learning forex trading, you need to learn the basic terminologies used in Forex market. Understand the concepts of Leverage, Pips, Pivot Calculations etc. For practical knowledge of working of Forex Market, open a demo trading account with any of the online trading platforms available online. Read articles written by Successful traders in forex trading. Use different different strategies and select which one best suites you. As a beginner invest only that much money that you can afford to loose.

[evildardjk]

for me that more better ur find one successful mentor and learn from him the secret behind this market..it more faster rather than ur try and error that just waste time and your money and even maybe make you feel give up in this market

i'm strongly suggest you take a look a this site that how expert really make money compare to other loser out there that just talking big and actually is nothing

http://1st-forex-place.blogspot.com/

[anna575]

Nice reviews. I also want to learn about this education. There are a lot of different strategies which is better for us. You can choose your best mentor and find the great information in this list.

[prideandpips]

I started recently also, and I found the following article really useful [skip]. The first lesson is easy to follow for beginners, plus there are many other nice articles too.

[jmathers]

There's alot of great resources to get your feet wet in forex trading using YouTube videos and various forums that are not clustered with bad information.

A few recommendations for trading:

Websites:
Forex Tutorials
Free Money Management Guide

YouTube Channels:

http://www.youtube.com/user/DayTraderRockStar

[tommy0921]

From my 2 week experiences (not too much) playing demo at fxdialogue, personally, I think that forex is a good way to earn money only if we know exactly what we are doing. Right? The more we understand, the lower risk we have, and the better chance we win. Therefore, I suggest you to understand deeper about Forex by starting a demo account which will cost you almost nothing.
For your consideration, read it

Before you can get started with forex trading, there are so many questions to answer. How do I choose a broker? Should I use a demo account? What do I need to know before making my first trade?
Let’s answer these questions one at a time, in order of importance.
1.Choose a broker
Making a decision on which broker to use is personal for each trader. Some brokers offer certain options that some traders will thrive on, while other traders will hate the broker for those same options. It is important to review and compare the options of each broker closely and choose the one that makes you feel most comfortable.

2.Open a Demo Account
Once you have made your decision on which broker you like the best, it is time to open a demo account. Most brokers will offer at least a 30 day trial of their trading platform giving you a chance to trade on the platform using play money. Using a demo account is a good opportunity to make sure that you feel comfortable using the broker’s trading tools. You would not want to trade real money without being fully comfortable with the trading platform. A demo account will not only help you get a grip on how to use the broker’s trading platform, but also trading the market in real time.
• Learn to take risk seriously
• Practice sound money management

3.Learn About Leverage
Forex trading is typically carried out using leverage, or trading on margin. Margin is a useful tool, but it can be very dangerous if it isn’t used correctly. Forex brokers typically offer anywhere from 50:1 leverage up to 400:1 leverage. The higher the number, the less money required to put on a large trade. The use of leverage is something that needs to be taken with a lot of care.

4.Practice Reading Charts
Before you start making trades you should get familiar with charts and how they work. It is a good idea to get familiar with the different time frames and the different types of charts. The shorter time frames will give you an idea of how the market is moving minute to minute. The longer time frames can show you how the market moves over longer periods and will show the larger trends. Most charting software will offer charts as lines, candlesticks, or bars. Take plenty of time to try out different looks and time frames to find the style that you are comfortable with.
• Learn about candlesticks
• Learn to understand support and resistance

5.Making the first live trade
The first trade is a nervous and exciting experience. The demo account prepares you for the technical aspects of trading, but when real money is on the line, emotions will come into play. It is important that you keep a level head and do your best to trade with the same methods that you practiced on the demo account. It may prove to be difficult, but if you master your emotions and use sound money management, anything is possible after this step. If your first trade loses money, do not give up, just piece together where you think you went wrong, and try again.
Forex trading is a constant learning experience. Trading mistakes can be expensive. If you learn from those mistakes and do your best to avoid them in the future, you can become a very successful forex trader.

Pasted from <http://www.rebatefx.com/forum/showthread.php?tid=7255&pid=10850#pid10850>

This is some good e-books from our forum, you can download them
<http://www.earnforex.com/forex-e-books/beginner-forex-trading/>

[gnike]

Originally Posted by Tantalus

Let me recommend:

Baby Pips

Money Pipeline

Forex Tester 2

Start with these educational resources (the third link is to a powerful self-training tool) then branch out to other forex forums like forex factory, etc.

Best of luck~

I have a babypips account. I'll try the other forums you posted.

Originally Posted by jmathers

There's alot of great resources to get your feet wet in forex trading using YouTube videos and various forums that are not clustered with bad information.

A few recommendations for trading:

Websites:
Forex Tutorials
Free Money Management Guide

YouTube Channels:

http://www.youtube.com/user/DayTraderRockStar

Thanks for the links. Will definitely visit them.