Totally new to forex!

[ForexNewbie1]

Hi guys

Up until yesterday i gambled for a long time however betting against the house never really turned up long term profits which made me turn to forex as a means of making somewhat consistent profits long term.

I am totally new to the game however i have watched various videos on Youtube which kind out outlay the basics.

What i know?

I know you should genuinely buy low and then sell high

I dont know!

When to buy? what signals do i look for
What do the candles mean?

Any free crash course which is online would maybe help i dont know however everything i have searched for online seems to be for people who are more knowledgeable about forex than i am now.

 

[NVP]

study at Babypips.com

than talk to us again in 6 months time

 

[Patricia12]

According to me there are two good source to know each and everything about forex, Babypips and Dailyforex.

websites: School of Pipsology and DailyForex | Forex Basics

 

[NVP]

whos the lead stratagist at Dailyforex now ?

 

[ph_trader]

I would've said the same thing, for any new comer infact, go through the school of pipsology, i got all my basics from there, after you finish the course, choose a brokers open DEMO only demo and stick too it for a couple of months then go therough pipssology again that way you have the of the basics and gradually you will find your self learning bits about the trade as you go on, about demo open a demo account infact open a couple with different brokers to compare the, i trade with hotforex you can try them too best of luck mate

 

[Jamesjohn]

I suggest all the time if you are new in Forex trading, don't put your all eggs in one basket. people listen often but not understand this. firstly you get basic information and after this as a experience you should use demo accounts. now a days almost every trading company offering free demo accounts. you can also use free Forex investment games .

 

[BBPI_FXTrader]

start and finish the school on babypips. Start reading threads on here regarding forex, technical analysis, fundamental analysis. If you do not understand something, ask. If you don't understand a term, or why a certain thing is that or this way, ask or google it.

As long as you are willing to accept advise from other traders, i'm sure a lot of people here are more than happy to help you with whatever questions you have.

all the best

 

[tomorton]

Trader who is new to forex, should first learn the basic knowledge of forex market and then with the help of experts should start trading.

ForexNewbie1 hasn't posted for 4 years. One way or the other, I don't think he needs your advice.
Then again, who does?

 

[progix]

May be this advice is for the new traders who will be recently joining this forum now..

 

[tomorton]

May be this advice is for the new traders who will be recently joining this forum now..

Don't make excuses for neha1, he had nothing useful to say to new traders, and was simply following his own purposes, not helping them. New traders seeking knowledge don't need to be told to go and seek knowledge. He posted on this dead thread safe in thinking he would not be challenged by the original poster - who has long since stopped posting - if asked a specific question, I am sure he would not have been able to answer. This timewaster is gone now I think.

 

[SmartGeek]

Practice is the only thing, which can make a newbie trader more and more successful, we need lots of practice to improve our trades.

 

[mcrlogitech]

I suggest that you should learn technical analysis and trade on the basis of indicators, rather than blind gambling...

 

[SmartGeek]

A good Demo Practice is all you need. I think about 6 months of Demo Practice would be enough for you to get over the each and every aspect of Forex Trading.

 

[SmartGeek]

Yeah, it would be quite a nice strategy, but you need to have lots and lots of practice to become successful in Forex Trading.

 

[SmartGeek]

Newbies should have good amount of knowledge and experience and skills to become successful in the Forex Trading, all you need is to have a good amount of practice.

 

[xtradex]

I think Demo trading is just losing time. You will not experience the psychological effect as you do with live trading. You can start with 10$ on a micro account and go from there. Demo trading does no replicate the emotions involved with trading real money.
Demo is only good if you have an EA thats not sensitive to execution, spread and broker comms to see how it performs. If you plan to trade manually, you need a real account from the get go.

 

[xtradex]

It really depends who you ask. Some will tell you that you should demo trade for a few months, others will say its losing time. I belong to the latter group. Demo trading is in no way the same as live trading. You get the same set ups but psychology is 70% of trading success. On demo there is absolutely no emotions involved and thus you can not learn to control them.

As I said, start with 10$ on a micro account and go from there. You at least have some emotion even if its peanuts. If you cant afford 10$ to start, then this business is not for you, its just that simple.

 

[SmartGeek]

Demo Trading can never be considered as a time waste, you need to understand that if you wanna become successful, you need to have quite a lot of Demo Practice for about of 6 to 8 months.

 

[makmilan1]

I was satisfied with my training experience with demo account. I did not had any experience forex trading and it took a while, almost a year, to shift from training environment real trading.