I want to get started with Forex Trading

Discussion in 'Newbie Questions' started by ShawnRocks, Sep 25, 2012.

  1. ShawnRocks

    ShawnRocks Trader

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    Hello all,

    I am new to forex trading. I have heard that I can make more money by trading in Forex. Can someone help me with usefull tips and tutorials if you have any . Please email me at

    Thanks,
    Shawn Wells
     
  2. SamuraiTrader

    SamuraiTrader Trader

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    Babypips.com would be a good place to start. But if you are hoping to make good money any time soon without doing some hard work and research, you are in for disappointment.

    If you are willing to put in that considerable effort then I wish you the best of luck in your trading journey!
     
  3. Molly

    Molly Trader

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    You can open demo account any broker and just try to understand how it works by yourself - just close and open the positions. Also you can participate in forex contests any brokers have. You have to read a lot of information to trade well, but if you are lucky you will be in profit from the first days!
     
  4. CityBoy

    CityBoy Trader

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    yes babypips is really good.

    you should definetly give them a try
     
  5. Fxpipper

    Fxpipper Master Trader

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    For starters, the Fx market is not like an ATM, it takes a lot of work to actually make some money. And there's no easy solution other than the usual grunt work you'll have to put in in order to see some profits.
    Review baby pips materials for beginners, review the FREE info that's available online, open a demo and practice with it and after that, move on to live account [small].
    Good luck!
     
  6. Rob Taylor

    Rob Taylor Active Trader

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    Yes i agree. If you think you are going to make big bucks in week one then think again. Forex is a job that has to be learned like any other job. When you become good at the job, you get paid very well indeed. :)
     
  7. ezrydn

    ezrydn Active Trader

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    Shawn,

    What everyone is saying is that you profit from Forex be making "educated guesses." Keyword there is "educated." You will have to learn how to determine your "guess." It took me around 9 months to get there. Yet, the time flies if you're enjoying your learning. You will also develop your own "style" of trading. Since you're in learning (and Demo) mode, get your head outta the box and try things that come to mind. No matter how outlandish it may seem.

    NEVER focus on the money! Instead, focus on style and method. Do this and the money will follow. Learn to manually trade FIRST. Your head and hands are with you wherever you go. Your favorite robot or EA might not be there.

    Above all, have fun and keep it exciting. Learn to be "cold blooded" when you trade. Emotion, as you've probably read, is a No-No.

    Now, go out and learn all that's available. Good luck.
     
  8. Fxpipper

    Fxpipper Master Trader

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    I am going to second the last comment, never focus on the big bucks - instead stay focused on making profitable trades post demo phase.
     
  9. nalu

    nalu Confirmed ProfiForex Representative

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    I think you should stay focus in getting forex education first not on making money because forex is very risky so you might need all necessary information to avoid huge losses.
     
  10. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    As most of the re-players said "Learning before Earning" should be your motto, so educate your self, than start with trading part and developing your own trading strategy.
     
  11. toretton

    toretton Trader

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    I love this motto...its so true, i am only sorry for those who do not use it
     
  12. willy

    willy Trader

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    Newbie

    Am new here...I have no idea where to introduce myself, so I thought I should do so here. Hope it is not wrong. Just call me by the name you see, am here learn and share the little I know.
     
  13. triplet

    triplet Active Trader

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    If you want to be successful in forex then you need a comprehensive knowledge of forex because it is not as easy as it seem. You can then open a demo account with any broker to practice before thinking about making money.
     
  14. mcdougallFX

    mcdougallFX Trader

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    Education, education, education.. Then you should start with a demo account for at least 6 months. An then you can try with a live trading account with money you do not need because, sooner or later, you will lose everything.
    But, if you follow discipline, common sense and psychology, you will have a chance to survive. that's all.
    Good luck!
     
  15. Fxpipper

    Fxpipper Master Trader

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    Not sure about sticking with a demo for six months but I guess that depends on the newbie..either way, a demo is for trying to work out how the market works, to learn the ropes, for developing strategies and moving on to a live acc, mini or micro after a while..
     
  16. chief

    chief Confirmed Tickmill Representative

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    demo account for 6 months seem too long. better get going with first real account, and keep put in small margin. demo trading are for platform, and basic transaction learning. the psycholgical has to refined well in real trading situation.
     
  17. fxsupremacy

    fxsupremacy Newbie

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    Hi,

    If you are looking for good Forex education I can recommand to read a lot about what other traders say about it. Coming to this forum is the first good step!. Secondly I would recommand a good and solid class for learning the basics as well as getting your gear up when approaching the Brokers. I can recommand Fxguruschool.com. Its good course and free on top of it.

    Regards,

    Frank
     
  18. koyl

    koyl Trader

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    In forex you have to be ready to work hard if you want to earn. You do not cant make millions overnight without knowledge and determination. Forex is also risky and loss is inevitable. Choose a good broker that suit your trading style .
     
  19. Ese11

    Ese11 Trader

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    Before the Earning aspect of trading comes to play,make the effort of learning and studying very well,there are several useful articles over the internet that can be very useful,if you know of any experienced trader who can monitor you that would go along way to better you up,Practice with a demo account for as long as you can and ha visit this page it could be of help: [url deleted]
     
  20. Babypips is a good place to start at. Personally i've trained plenty of traders, so if you have any questions feel free to contact me and visit my site. Other than that, take your time to well educate yourself and practice on a demo account before approaching real live trading..
     

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