where do I start?

tomorton

Legendary member
8,128 1,209
Start with learning. Move on to demo account. Try some strategies. Identify your best/preferred time-frame and markets.

Demo simple strategies found on the internet until you see them in your sleep and you are consistently profitable. Find one that's most suitable and customise it a little to suit your trading style.

Open a live account and trial this strategy with very small positions.
 

drcruz

Junior member
30 11
where do I start?
Read, read, read.
Find a niche that appeals to you and study some more and practice the technique (paper trade and back test). Implement real capital (skin in the game) placing small bets (1% of available capital if possible), this gets your psychology right (as per Trading in the Zone). Get your bet sizes optimized once you have historical proof that your strategy demonstrates an edge.
Goal: Your trading should become a boring job.
I am still at practicing and backtesting. I've got skin in the game and I am almost to where my Trading Plan is fully nailed down. Started trading seriously in the beginning of 2017. 3 to 5 years of work "before" becoming profitable is (in my experience) a good number, especially if you can survive with out blowing up your account
 

sunnyday

Junior member
34 7
Start with learning. Move on to demo account. Try some strategies. Identify your best/preferred time-frame and markets.

Demo simple strategies found on the internet until you see them in your sleep and you are consistently profitable. Find one that's most suitable and customise it a little to suit your trading style.

Open a live account and trial this strategy with very small positions.
I like this. I agree withe everything about this.
 
  • Like
Reactions: tomorton

Tradeshock

Junior member
12 4
If you're starting from absoloutley nil I'd start at the Babypips school. It will give you the basics.
 

timsk

Legendary member
7,335 2,120
If you're starting from absoloutley nil I'd start at the Babypips school. It will give you the basics.
Newbies would do far, far better to start at the beginning and the beginning isn't leaping on the forex bandwagon to near certain failure with everyone else. There's a mass of info' right here on T2W that's dedicated to answering this very question - just click on the link in my signature.
 

Tradeshock

Junior member
12 4
Newbies would do far, far better to start at the beginning and the beginning isn't leaping on the forex bandwagon to near certain failure with everyone else. There's a mass of info' right here on T2W that's dedicated to answering this very question - just click on the link in my signature.
Yeah I wouldn't particularly recommend jumping into FX but its a good place to learn what a candle stick and moving average are.

Those links @timsk put up look great though.
 

timsk

Legendary member
7,335 2,120
Yeah I wouldn't particularly recommend jumping into FX but its a good place to learn what a candle stick and moving average are.

Those links @timsk put up look great though.
Hi Tradeshock,
BabyPips presents it's info' very well; in a logical way and is easily digestible for the newbie. However, it has its own agenda which is to put forex on a pedestal as being the best market to trade. Given the numbers of newbies who flock straight to it without even considering other markets - I'd say they've done a great job. However, IMO, this isn't in the best interests of newbies for reasons that I've explained in detail many times in the past - as in this post. (NB: Most of the numbered points in brown italics were lifted directly from BabyPips).
Tim.
 
Last edited:
  • Like
Reactions: Tradeshock

NVP

Legendary member
37,504 1,972
Hi Tradeshock,
BabyPips presents it's info' very well; in a logical way and is easily digestible for the newbie. However, it has its own agenda which is to put forex on a pedestal as being the best market to trade. Given the numbers of newbies who flock straight to it without even considering other markets - I'd say they've have done a great job. However, IMO, this isn't in the best interests of newbies for reasons that I've explained in detail many times in the past - as in this post. (NB: Most of the numbered points in brown italics were lifted directly from BabyPips).
Tim.
Tim’s right .....

I did my time in commodities and equity markets back in the 1980s and 1990s.....then came to forex in 2000 .....never looked back

So I am now bias in forex.....and always will be

I would urge beginners to learn the basics first....then try to find a market that suits you ....your personality and lifestyle.....

Since few progress to having lots of free time to trade i suggest daily timeframes first ..... then see if any market works for you ......and start to define your preferred trading style

Trend following
Range trading
overbought/ oversold reversals back to mean
Support résistance

And all the exponential variations within these strategies

The reason that many traders recommend babypips training course is that it is well structured and well written ......but naturally geared towards selling forex

Im no fan of babypips other than that ...... they lifetime banned me years ago after they said i could mention my website for free forex training as many others do , but then banned me ......however I had already ruffled a few feathers by challenging some of the more established Members there regarding blatant commercial advertising .....which clearly was being supported by babypips

So beware the sharks there

N
 
Last edited:
  • Like
Reactions: Tradeshock
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock