Forex Beginner

Kingpin2012

Kingpin2012

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Hi everyone,

I am a Beginner UK wannabe trader looking to get aquainted with the Forex Market.
I would be grateful if you could tell me what is the best way to get started as i am a Novice. If anyone could give me the heads up on FOREX (who, what, where, why and how)
would be much appreciated

Kingpin2012
 
+1 on Babypips

Grab "Reminisciences of a stock operator" and "Pring on price patterns"....the only two books you need.

Then study money management....I recommend trading price action setups for there simplicity but it is horses for courses really....trade the method and timeframe that fits in with your personality, draw up a trading plan and stick to it and apply strict money management rules and you'll be sweet.

And demo trade for many months before going live....have at least 6 profitable months in a row before you even think about funding an account.
 
Kingpin2012 said:
Hi everyone,

I am a Beginner UK wannabe trader looking to get aquainted with the Forex Market.
I would be grateful if you could tell me what is the best way to get started as i am a Novice. If anyone could give me the heads up on FOREX (who, what, where, why and how)
would be much appreciated

Kingpin2012
Click to expand...

Kingpin,
A great place to start demoing is FXCM, they offer mini to standard size accounts. The site also offers tutorials as well.:cheesy:

Regards

Dan.
 
Anyone else? I am in the same boat as Kingpin. Any must-read books pertaining directly to FOREX, or is it mostly online? I am working on babypips now.
 
Rhody Trader said:
Go to BabyPips and work through their "school" as a good starting point.
Click to expand...

Baby pips is a great place to start when starting as a total novice the pre school part of baby pips will give you an over view of forex a good stating place.

tehuringa said:
Then study money management
Click to expand...


Cant emphasize the importance of money management enough, i would start to learn money management before I started looking at trading systems.

Its important to learn position sizing you can find loads of info on position sizing on here and on forex factory.
 
Oh yeah one more thing read this book mark douglas trading in the zone
 
Dear New Forex Traders,

What is your first step in Forex Trading. Here is some tips that can guides you if you're really serious in this field:

Tip 1-The value of basic Forex education
Tip 2-Attend trading courses
Tip 3-Create your own profitable Forex Trading system
Tip 4-Apply Forex Trading strategies
Tip 5-Trade Forex in its best hours
Tip 6-Use Forex Trading Software A Must
Tip 7-Stay safe - use common sense!

If you guys have another tip or strategies please share with us here.

Regards :p
 
Forex Robots

I have a little knowledge on Forex market and Forex Robots....Forex or foreign exchange trading refers to the buying and selling of currencies all over the world and forex robots are a forward step in this work. They can help you to trade easily but you can’t be guaranteed. The profit or a loss depends on how smart they are or their robots.Forex robots are the software especially designed to perform trade in the forex market. They are set with the necessary parameters to make the necessary decisions in trading. It performs by trading signals incorporated in them that determine when to trade or when to hold on to the money.
 
Kingpin2012 said:
Hi everyone,

I am a Beginner UK wannabe trader looking to get aquainted with the Forex Market.
I would be grateful if you could tell me what is the best way to get started as i am a Novice. If anyone could give me the heads up on FOREX (who, what, where, why and how)
would be much appreciated

Kingpin2012
Click to expand...

Before you start investing in forex market, you must first understand what forex is. FOREX trading involves buying and selling the different currencies of the world. Buying one currency and selling another at the same time make a FOREX deal. To start with, you must learn to how to read forex quotes, which is always listed in pairs. Before you go live with real trading, you can always test your skills first in a demo account.
 
Last edited:
I have learned some points on forex trading. But I am still in search of a good forex broker who should have clean track record forex transactions , should pay me in 24 hours of my request, should accept paypal and there should be error free trading.
 
contact [email protected] and ask for an invitation to their free coaching webinars held weekly, on a wednesday if i remember.
Also team trading offer free coaching sessions, i tried these as well but prefered the Pro Trading Course ones.
 
i haven't found any site that will come right out and tell you a specific answer. i don't know why. everyone tells you to search (goggle it). therefore all info is to be taken on faith. imho it is all BS.
 
Kingpin2012 said:
Hi everyone,

I am a Beginner UK wannabe trader looking to get aquainted with the Forex Market.
I would be grateful if you could tell me what is the best way to get started as i am a Novice. If anyone could give me the heads up on FOREX (who, what, where, why and how)
would be much appreciated

Kingpin2012
Click to expand...

Forex trading is a profession like any other profession and therefore you must study and know what you are doing. There is plenty of information available on the Internet or in books. Try to visit this site www(.)forexstrategiespro(.)com to help you get started with forex trading.
 
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