Hi, I am Jeninova and a newbie in this kind of business so how will I start?

wmram

Member
60 20
Open a small account - $50 to $100; Keep it alive. Demo account is not going to help you; you will never get to a point where you will feel confident and comfortable enough start risking real money. The working environment is far too dynamic. If you are going try and make money trading short term price fluctuations, put some skin in the game. See what it feels like to lose money; see what it feels like to live with losing money. If you are going to make it in this business, neither the thought nor the occurrence of losing money can take too big a toll on you emotionally or psychologically. Much of a normal trading day is a grind. If you can't get past the issue of losing money, it's going to be difficult to last for very long in this business. So start working with real money.
 

WalletInvestor

Active member
127 35
I think it's okay to work with demo accounts first until you have more of an idea about what you are doing. Just be aware that things won't work exactly the same on a real account.
 

MichaelJohnFX

Senior member
2,888 321
Demos are only good to understand the functionality of a trading platform (IG, CMC market trading 212 etc) and test your system. I'd really recommend trying to get skin in the game fast...and if you can find a trusted trading mentor (preferably one you don't have to pay for and who has a proven track record - it's invaluable). There are a few decent ones on here.

2 biggest things to note in trading imo:
1) Risk Management - cut losers fast and let winners run...you'll hear people say this all the time, but it's so true
2) Learn how to read price / chart patterns. This unfortunately cannot be taught and imo takes years of literally staring at the screen.
 
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CavaliereVerde

Experienced member
1,666 2,166

I think that a real newcomer should read existing topics and like some content.
If he doesn't it is very likely we are dealing with a bot... ;)
 

Terez93

Junior member
10 1
Be it Forex, or any other kind of business, the first step always has to be exploring that field, researching and gathering max info. If you spend some quality time on this part, believe me, future journey would be much better.
 

HeavLeighGill

Active member
145 33
Start by learning basic concepts like terminology and then move on to the harder stuff, like strategies, risk management, and so on. You can also open a demo once you feel ready to practice on.
 

pipfighter

Junior member
37 7
The way you said it made me feel like you have no idea about anything when it comes to forex trading. Am I correct?
For the starter, understand how forex market and trading work by reading more and more on free courses that you can find online. I suggest babypips "school of pipsology". One of the best way to start off.
Once you get to the final chapter of that course, you will get to know what to do next.
 
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sebking1986

Well-known member
273 85
Start with education. Treat trading like a career and a highly skilled one like medicine or law. You aren't going to be doing it properly for a long while and that is fine. Learn to love the process as money is something that comes way down the line if it does at all.
 

dutchy1986

Junior member
15 2
You’ll need to do a lot of learning, plenty of useful posts about that on this forum, read up and watch videos of trading and then demo
 

no_frame

Junior member
47 9
Read some trading books or watch some youtube channels, participate in the forum's discussion and then practice on a demo account and after that go live with a small amount.
 

absence

Member
71 15
A new trader shouldn’t wait long to start practicing on a demo account. Everyone tends to forget things that are only read, whereas it is easy to retain knowledge when it’s practically applied.
Agreed. Only they can start when they have better understanding what forex trading is
 

Bablosik

Newbie
2 0
It will help if you start with the basic theory. You can read various articles on this topic, study terminology to understand the material better, and watch multiple introductory videos on YouTube. I'm sure there are thousands of them. Then you can move on to practice on demo accounts. Try experimenting with small amounts to memorize platform tools or basic techniques. There is nothing complicated in this business in terms of functionality. If you were engaged in some production, you would have a more challenging time. Loans, factoring companies https://factorforyou.com/california-factoring/, transactions. Everything is much simpler here. But it is necessary to have a sharp analytical mind.
 
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lotsea

Junior member
16 1
Gathering basic knowledge on trading is the first step. And thankfully there are so many resources one can get knowledge from. It is also equally important to demo practice as much as you can before you enter the live market.
 
 
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