New to Trading and Forex

I think at the very least you should start out with a demo to get a good feeling for the platform you are using. To be perfectly honest, when I first started trading, I jumped straight to a live account platform and made quite a few unintentional yet very expensive mistakes just because of lack of familiarity of how things worked. Ever platform is different. Event he easier ones have their quirks.

I agree, your first mistakes can be fatal.
It can be the end of your journey as a trader.

Could you give an explanation of overleveraged positions by giving an example please? Gracias.

It's like using 1:100 or 1:200 leverage to open positions (though not possible for exchange-traded instruments) or selling naked call options (where upside potential is unlimited). Higher leverage increases pip value, hence smaller adverse move can lead to account blow out.

Let's imagine that you have 1000 usd account. You broker gives you 1:500 leverage. So you have 1000x500 = 500 000 usd buying power (5 lots). To make calculations easier to understand let's assume that eur/usd exchange rate is 1.10000.
Let's look at a few situations:

1. You are buying 4 lots of eur/usd (400 000 euro). You need 400 000 x 1.10000 = 440 000 usd (880 usd your account money). Your buying power is 500 000 so you can do that. But now 1 pip cost 40 usd. If price moves 10 pips against you then you will lose 400 usd. That's an overleveraged position, because you are risking all almost all your money in one position.

2. Let's say you are trading long enough and have statistics about you trading. You know that from time to time you have losing streaks when you are in a drawdown of 30 pips. You decide to trade with 2 lots. To open a 2 lot trade on eur/usd you need 440 usd in you account balance. After a few trades you are in a drawdown of 30 pips. 1 pip costs 20 usd. 20x30 = 600 usd drawdown. Now you have only 400 usd in your account balance and you are not able to open 2 lot size positions. That's an overleveraged position, because you know that you can be in a situation where you can not implement your strategy well.

3. You like to take several trades at a time on a different currency pairs. Let's say there are situations when you open 5 different trades at a time. You decide to trade with 1 lot. You took 4 trades with 1 lot, now you see one more perfect trade you pressing buy button and nothing happens, that's because you used all you money to open previous 4 trades. And how it usually goes in trading, all your 4 positions closing with a loss and that 1 that you couldn't buy fly to the sky and would make you a lot of money. That's an overleveraged position, because you know that you can be in a situation where you are not able to take all the trades you want.

And so on...

Although forex is not easy to trade for a beginner, but we still can make reasonable amount of money if we have good strategy and plan, and we should trade according to our plans and strategy.

I think it's much easier for a beginner to learn how to trade now than it used to be.
A lot of sites and forums will help you do that.

It's simple, but not easy. Follow these two rules. Trade demo until you get 3 months in a row each positive, Then trade a micro account at 0.01 lots per trade and never a bit more until you get 3 months in a row each positive. Then you'll know what to do. It may take years. - G

Jumping straight into forex without prior trading experience isn't uncommon. Many traders start this way. You just need a solid plan, starting with mini and micro lots, and practice on demo account first.

I think the majority of retail traders at one point jumped into forex trading and they did not have prior experience.
As for me the question is how the prior financial experience influences the trading and if it does in the first place?
It is also hard to say because people usually start from forex trading and then maybe turn to some more sophisticated trading or investing methods.

When in doubt, risk less. Risk no more than 1/20 of your capital per trade.

Ema 50 and 200 are good in determining daily bias. Knowing the bias, when price action is going against it in 30 mins, don't order, order only when price action is indirection of the daily

That is it.

Atleast 1 to 1 rr, and you will keep getting better the more you forward test your methods.

While some succeed in forex with no prior experience, the learning curve is steep. Starting with micro lots is smart—it lets you practice risk-free. However, shares may be easier for beginners due to slower moves and clearer fundamentals. Try both with demo accounts first! Education and patience matter most.

I’ve followed threads on setups and psychology, and just seeing veterans discuss their methods gives me direction. It’s eased the overwhelming feeling of starting out

Hello traders, i’ve been trading for a while now, not a complete beginner but still learning and exploring new strategies. I’m here to understand the market better and improve my skills. This forum seems like a great place to share experiences and gain insights from others. Looking forward to learning more with you all!

Hi, Brand new to forex trading, well any sort of trading to be honest. Always have been interested but didn't know where to start (I know there are millions of YouTube videos but its working out what's good and what's not) I was advised about a course on Udemy by a friend at work. i done the course to get to know the basics which i now have. I am wondering where else do people get more knowledge from? Very keen to gather as much as i can at this time while still running with a demo account. any help would be greatly appreciated guys. thanks in advance.

I'm a newbie myself and totally agree - starting with a demo or small deposit builds vital muscle memory without risking too much greed-driven errors. It’s helped me test strategies before going live.

i was fortunate enough to be in a position to be trained by a bank, i hate to pee on everyones fire, but banks do not concern themselves with support and resistance. they are actively trading to geopolitical and monetary policies. plus others. If youre not willing to accept the fact you are gambling, find another job.

Is there any Expert Advisor for MetaTrader 4 that handles risk or money management?

Honestly, a lot of new traders jump into forex with zero experience and get burned—it’s just the reality of the game. Starting with micro and mini lots is definitely the right call; it helps you get used to the price action and your own reactions without risking much. But trading isn’t about “getting a feel” in a casual way. It’s a serious skill that demands discipline, patience, and constant learning.

Most importantly, expect to lose money early on—that’s part of the process. What separates successful traders is how quickly they learn from those losses, stick to their plan, and control their emotions.

the majority of failures in forex are traders that just dipped once and ran!! but still there is a large percentage of traders that sticked around but had to learn the hard way, it took some of us years to get to that consistency so we could say we are traders, i personally burned numerous hfm accounts and just kept going. so yeah that 90-95% fails are realy, and most of it are people that simply quit after a couple of months thinking that forex was a walk in the park, and majority of profitable traders wont even bother to get them selves known and keep it discreet.