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where do i begin?

  • #41
  • Oct 25, 2016 4:48am Oct 25, 2016 4:48am
To start forex, first step is learning, start reading e-books, tutorial, videos to get knowledge of forex and how it works. Then comes to demo testing, which give you practical experience of trading.
  • #42
  • Oct 26, 2016 2:21am Oct 26, 2016 2:21am
Quoting Butterscotch
To start forex, first step is learning, start reading e-books, tutorial, videos to get knowledge of forex and how it works. Then comes to demo testing, which give you practical experience of trading.
Don't forget about trading journal, it helps to provide analysis of mistakes which are not obvious while trading process but can be seen later. It helped me greatly. Moreover, you can make forecasts basing on price action, write them down and see if they worked. If they did, it's time to open orders live!
  • #43
  • Oct 26, 2016 3:06am Oct 26, 2016 3:06am
i say just keep on reading, there are many very good threads here specially older ones, and continue askin no matter how sarcastic or harsh some replies maybe, its a constant battle and demo demo demo demo, till you find a good rhythm and you'll be fine
  • #44
  • Oct 26, 2016 6:01am Oct 26, 2016 6:01am
One can't stay forever on a demo account, moving onto an at least small live account is necessary to learn to trade with real money and deal with the psychological pressure related to that.
  • #45
  • Oct 26, 2016 10:05am Oct 26, 2016 10:05am
All of this is great advice. I would suggest reading some books that do not talk about forex 100% but are still very good. I would suggest looking at Market Wizards to read some really good interviews of highly successful trades (lots of interviews with forex traders). This give you a really good mindset of what to do and what not to do. Maybe you can read some of their mistakes and not make them on your own!

Good luck
A
  • #46
  • Oct 27, 2016 2:11am Oct 27, 2016 2:11am
Quoting mlawson71
One can't stay forever on a demo account, moving onto an at least small live account is necessary to learn to trade with real money and deal with the psychological pressure related to that.
A cent or micro account with smaller lot sized trades would be perfect for a start up ,even though profits wouldn't be appreciable losses wouldn't be that significant as well
  • #47
  • Oct 27, 2016 5:50am Oct 27, 2016 5:50am
Quoting Uptrend1
{quote} A cent or micro account with smaller lot sized trades would be perfect for a start up ,even though profits wouldn't be appreciable losses wouldn't be that significant as well
That's my point too. The idea behind such accounts is to learn to deal with trading with real money, not to make big profits.
  • #48
  • Oct 27, 2016 12:01pm Oct 27, 2016 12:01pm
Quoting mlawson71
{quote} That's my point too. The idea behind such accounts is to learn to deal with trading with real money, not to make big profits.
I also agree, because then we get the risk may also not be too great if we as a beginner. therefore we should be able to increase the capacity we have in order to improve the trading profit that we get.
  • #49
  • Oct 27, 2016 10:23pm Oct 27, 2016 10:23pm
Hi All,

Hope this does not sound too retarded... I am new and just trying to figure out how to categorise the forums here in FF.
Just wondering if #hashtags work here in the forums? So that I can easily search for posts?

Or is that a way to tag each post that I make? For eg, if I make a lot of comments on oil, and I wish to tag #oil so that I can at one glance search for my posts on Oil?

Appreciate the help I can get! Thank you guys!
  • #50
  • Oct 28, 2016 12:47am Oct 28, 2016 12:47am
I think bonus accounts should be perfect for start. There are so many broker providing no deposit bonus account, newbie can try your luck with them to learn live trading.
  • #51
  • Oct 28, 2016 5:31am Oct 28, 2016 5:31am
Quoting Butterscotch
I think bonus accounts should be perfect for start. There are so many broker providing no deposit bonus account, newbie can try your luck with them to learn live trading.
Bonus is a matter of dispute, man. They are useful for people who want get more money to trade. BUT. There is a great but... Some bonuses have so tricky terms that trader wouldn't be able to withdraw his money without problems.
And it may be a great mistake to recommend newbies any bonuses as they act thoughtlessly sometimes, especially when emotions and will for wins control them.
But I agree that bonus is a good chance for those who treats the question seriously.
~~~
Anyway, if you are new to Forex trading, please, be careful with bonuses and brokers that provide them. Read terms attentively. You can even write to the support all your questions regarding certain bonus
  • #52
  • Oct 28, 2016 5:47am Oct 28, 2016 5:47am
I would advise you to start trading with a funded account immediately, just trade in very small quantities with a very small leverage.

The game changes a lot when there is money involved, psychologically speaking. It's the same as playing poker with or without money. As soon as there is something involved of value, your perspective changes quite a bit.
  • #53
  • Oct 28, 2016 6:44am Oct 28, 2016 6:44am
I don't like using bonuses. That is just a personal preference, mind you. I'd rather trade with less money but know that they're all mine and I am in full control of them than use a bonus.
  • #54
  • Nov 2, 2016 10:05am Nov 2, 2016 10:05am
If I work at staying current with exchange realted infomation, trade without emotion and stick to my plan, or on other words, consistently work hard and smart, is an average return of 5% to 10% per trade a realistic expectation?

My plan is to trade outside of my 9-5. I will have the energy to do this, since I currently work 4 days a week serving, so I know I can really push it, and I am a student at heart so I won'y have to worry about passing out on the couch from a pizza coma.

Simply put, my goal is to make 5% to 10% of my account, which I plan to begin with about $5,000 to $7,000
  • #55
  • Nov 9, 2016 7:17am Nov 9, 2016 7:17am
Quoting mlawson71
I don't like using bonuses. That is just a personal preference, mind you. I'd rather trade with less money but know that they're all mine and I am in full control of them than use a bonus.
Agreed, I also prefer to use their own capital without using a bonus, this happened because once possessed the experience to get the bonus on other brokers and less observant in Understand the rules, so I suffered a great loss. Therefore I also stopped using the broker.
  • #56
  • Nov 29, 2016 6:25am Nov 29, 2016 6:25am
Quoting gabanda
{quote} Agreed, I also prefer to use their own capital without using a bonus, this happened because once possessed the experience to get the bonus on other brokers and less observant in Understand the rules, so I suffered a great loss. Therefore I also stopped using the broker.
I am sorry that happened. It's important to always read the fine print of the contract when you start working with a new broker.
  • #57
  • Nov 30, 2016 3:20am Nov 30, 2016 3:20am
Quoting gabanda
{quote} Agreed, I also prefer to use their own capital without using a bonus, this happened because once possessed the experience to get the bonus on other brokers and less observant in Understand the rules, so I suffered a great loss. Therefore I also stopped using the broker.
What loss did you face, if it's not a secret? You got to negative depo and owed money to your broker or you just lost you acc money?
Well, they say that everything happens for a reason, so, I hope you will be more careful when getting bonuses again.
  • #58
  • Mar 8, 2017 2:40pm Mar 8, 2017 2:40pm
Advice for simple forex trading system for beginners ?
  • #59
  • Mar 8, 2017 2:55pm Mar 8, 2017 2:55pm
Quoting buster
As an absolute beginner, just looking at Forex to try to understand what's going on, can anyone offer layman terms advice on how to trade.

I love this question as when i was a beginner trader i found it extremely hard to find Forex education.
If i typed it into google i mostly only found expensive courses and webinars one had to pay money for. (mind you i was typing in ''how to day-trade'' and such)

But i eventually found the following sources (all for free too!)

1) The one thing that helped me the most on getting educated surely is the podcast Two Blokes Trading, the podcast is about two blokes (who knew, right?) starting from the very basics of Forex trading and documenting their journey through out the podcast. Every episode they have well known figures of the Forex industry on to talk about their views and such. Very good stuff!
http://twoblokestrading.com/

2) My past broker ETX Capital provides free webinars 4/5 evenings a week in which they start from the basics and work their way up to complete strategies and analysis. This is where i got the basics for my current trading strategy.
https://www.etxcapital.com/about-us/education

3) Trading books such as: ''Reminiscences of a stock operator'' and ''Trading in the zone'' are a good read that shows great insights in trading. Found these and other books also on Two Blokes Trading.
http://twoblokestrading.com/reviews/...books-reviews/

4) ''The Art and Science of Trading'' is a completely free and massive trading education course. It takes several week to complete but im not going to lie, the guy who made it, Adam H Grimes, used to be a statistical analyst and the material can be very dense at times. But complete this and you surely have a better understanding of trading.
http://adamhgrimes.com/TAAS/the-course/

5) Lastly, Babypips.com. What a great time to be alive that a place like this exists on the internet. The school of Pips takes you from the very basics of Forex trading and advances you to the harder and deeper aspects of trading.
http://www.babypips.com/school

Hope it helps you as much as it did me!
  • #60
  • Edited 8:10pm Mar 8, 2017 3:07pm | Edited 8:10pm
Quoting No-claro
{quote}


Those are great information, many thanks

What broker do you use now?
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