robertofx
Active member
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Learn basic things first. Start from Babypips school. You can then go the websites like Dailyfx, 2ndskiesforex to learn advanced materials
rrayne20009
Junior member
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Hi,Pia!Welcome to the forum.Roberto is right go to http://www.babypips.com/school and find a broker of your choice and start a demo.
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Do not put money anywhere until you've had a good read of this site and others-- like Babypips--already suggested, Trading is a minefield, so tread in the right place.
My advice is minimum stakes, That means a reliable spreadbetting firm because you can trade for a minimum of 50 pence until you get more experience. Brokers require larger minimum opening accounts.
Remember that trading knowledge is one thing, Money management is another.
Good luck.
timsk
Legendary member
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Hi Pia D'Alia,
Welcome to T2W.
My advice would be to stay away from BabyPips - at least for the time being. If, as you say, you're new to trading, you won't yet have made your mind up as to which markets are most appropriate for you and which instruments within those markets to trade. At least, you shouldn't have. Making a snap decision to trade forex on the basis of that's what most other newbies do - isn't at all wise. There are as many good reasons to avoid Forex like the plague as there are reasons to trade it. Once you've investigated those and are familiar with the pros and cons of trading a broad cross section of markets, decide which one will suit you best. In the event that it's Forex, then - and only then - consider looking at bespoke sites dedicated to that market such as BabyPips.
Keep in mind that the vast majority of newbies think that Forex is where it's at for entirely the wrong reasons - so don't just follow the herd, do your own research and decide what is best for you. You'll get a much better and more rounded introduction to trading right here on T2W - starting with the first two links in my signature. Additionally, check out the Trading FAQs, of which No. 11 'Which Should I trade - Stocks, Futures or Forex etc.?' - expands on the points I've made in this post. Needless to say, these comments apply equally well to anyone else who's jumped on the Forex bandwagon without first investigating the pros and cons of trading other markets.
Enjoy!
Tim.
peterevanson
Newbie
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You can either go with the broker or you can create online account. Creating online account is the cheapest way to start trading.
timsk
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snow boy,
If you don't like T2W and think other forums are better - that's fine, you're entitled to your views - but kindly stop telling other members to look elsewhere in order to learn about trading. I've already explained why such 'advice' is inappropriate in this post on P1 of this thread.
Besides the points I make in that post, it's also a breach of the T2W Community Constitution. Note the section quoted below:
2. Mentioning other Web sites
2.1 You can mention, link to, or discuss other Web sites that are of interest to our members, as long as they don't violate any of our guidelines. Please don't use our community to generate traffic for another trading community. We'll delete posts that mention or link to our competitors for the sole purpose of encouraging our users to participate elsewhere.
Tim.
forexjudge
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I am surprised that someone would actually advice against babypips. Well am not surprised anymore, seeing that you are a TDW agent. Babypips is still a very good place to begin the forex school.
timsk
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Hi forexjudge,
I have nothing against BabyPips per se. Indeed, I admire the site in many ways and think they do a pretty decent job. However, they are a bespoke forex site and (quite understandably) heavily biased in favour of that one market.
It's not helpful - and potentially very harmful - for a new trader who knows nothing about trading to be told to go to BabyPips - not only to learn how to trade - but to trade forex without first considering other markets. That's the issue here. It's akin to being told by a complete stranger what make and model of car you should buy before you've even had your first driving lesson. That person can't possibly know what's the best car for you. Ditto with trading. Nobody, I repeat nobody, should start trading any particular market, without first having investigated the relative pros and cons of all available markets and decided which one is best for them.
Forex is the latest band wagon, and most of the people promoting it have a vested interest in newbies flocking to it like a moth to a flame - which they do. So, it's no surprise their trading careers are often short lived. If and when the newbie has researched fully all the markets and they decide that forex is the one for them, then BabyPips may well have information and insights that are of value to them.
Tim.
MajorMagnuM
Legendary member
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well, tymens thread on babypips on candlesticks was awful
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