New to forex what to start with

resistance

Member
89 1
Start with some reading about forex basics. You will find many webs on each topic of forex. When you understand this market do demo trading to get practice how to interact with this market . As much you will trade your knowledge and experience will improve.
 

NVP

Legendary member
37,787 2,112
Everything you need to know in order to learn to trade successfully is available for free on the internet.

Research the following:

Support/Resistance
Pivot points
Price action
Trend trading
Setting stop losses
Taking profits
Managing risk

Study one currency pair and become comfortable with its price movement. If you truly understand the above and apply to the currency pair you are familiar with, you are on your way to success.

Consider multiple sources, do not trust any one source as your "mentor". Develop your own methods/rules based on what you learn, and based on the behavior of your chosen currency pair.

Do not make decisions based on other people's opinions/analysis. Do your own analysis and form your own opinions, make your own decisions.

Be aware of news events, and potential affects on your currency pair. But usually, price action will anticipate any big/sudden moves. Not that you can anticipate correctly 100% of the time, but at least you'll see that there will be a potential break out on the horizon - price action will tell you this, if you listen...

Be willing to put in the time to learn the above. Most traders fail because they expect to be successful without spending the time to really learn. After they lose for a while, they give up. If you study full-time, i.e. 8 hours per day for 4-6 months you can learn it. If you spend 8 hours per week, it may take years.

If you are entering trades with little or no confidence in what direction the price will go, you are gambling, sure way to fail. Develop confidence in your analysis so that even when trade goes bad, you will comfortably stick with it until your stop/loss is hit or profit goal is reached.

And finally... Never stop learning.

theres a lot of excellent advice in this post above......and I humbly suggest it takes 3-5 years minimum of serious reserarch and training before you can make decent money consistently

you will now it when you find it ..........as you finally mix together the approach/system that works 100% for you and your personality / lifestyle

it cant be done in weeks or months - believe me

Good hunting
N
 

ceydababy

Experienced member
1,138 143
Being here in the forum site is a good start to learn. You should learn to take things slowly in trading.

Awful place to learn. Full of absolute nonsense.
 

trademanagerpro

Newbie
7 0
First i suggest you to learn Forex. How to trade in Forex?What are the technical and fundamental analysis?And you should start with a demo account and try to learn different strategy of trading in Forex so it will be good for you.
 
 
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