Sticky I'm New To TRADING - Where Do I Start?

[AC007]

new traders should watch this. Don't post this video where gurus hang out, you will be banned.

 

[IceThor]

new traders should watch this. Don't post this video where gurus hang out, you will be banned.

video not working

 

[AC007]

 

[AriaS]

There are only 4 steps that you will need to do:
1. Learn the basics from Babypips school.
2. Find successful traders on Myfxbook (live accounts at good brokers).
3. Analyze what they do and how they do it.
4. Don't ever listen to anyone besides successful traders with proven track record.

 

[timsk]

There are only 4 steps that you will need to do:
1. Learn the basics from Babypips school.

I'm sure you mean well D'AYC, but this isn't necessarily good advice and may even be detrimental to novice traders. I explain why in this post.
Tim.

 

[AriaS]

I'm sure you mean well D'AYC, but this isn't necessarily good advice and may even be detrimental to novice traders. I explain why in this post.
Tim.

I agree. I mistakenly assumed this was a forex trading thread. I should have said, "learn the basics anyhow". Should I edit?

 

[timsk]

I agree. I mistakenly assumed this was a forex trading thread. I should have said, "learn the basics anyhow". Should I edit?

No - it's fine AYC.

 

[Gracy2]

There are only 4 steps that you will need to do:
1. Learn the basics from Babypips school.
2. Find successful traders on Myfxbook (live accounts at good brokers).
3. Analyze what they do and how they do it.
4. Don't ever listen to anyone besides successful traders with proven track record.

This seems to be a useful piece of information, I will surely pay attention to the sources mentioned.

 

[AriaS]

This seems to be a useful piece of information, I will surely pay attention to the sources mentioned.

Thanks! But please keep in mind that Babypips is a forex resource. If you haven't yet learned trading in general, this website may give you the wrong impression that trading forex is the only way to trade.

 

[turmoils]

Thanks! But please keep in mind that Babypips is a forex resource. If you haven't yet learned trading in general, this website may give you the wrong impression that trading forex is the only way to trade.

Right! I started with babypips. It’s a great source. Plus, the community is so helpful.

 

[Bian.chi]

Hello everybody!

 

[darrensammy]

Hello Everyone! Understand that without basic forex knowledge you can not learn the wide and complex concepts of the forex market. Have a systematic approach towards learning forex trading.

 

[nunrgguy]

Where should you start?
1 don’t listen to idiots on forums or social media, including me
2 don’t believe rubbish in books
3 don’t buy or attend courses, all rubbish
4 open chart, hit buy, lose money. Learn how that feels.
5 repeat
6 fathom what is going on
7 fathom how this applies to the person on the opposite side
8 realise it’s dog eat dog, no one is going to help you, if you don’t know who is getting screwed it’s you that is getting screwed.
9 learn that trading is a cutthroat business, it’s not a nice game of ‘fellow traders’ and such nonsense
10 develop a thick skin
11 learn how not to care one iota
12 lose some more money
13 and lose again
14 keep losing
15 etc
16 after your wife’s left you and you’ve lost your house you either start to become profitable or
17 you write a book on trading or start selling a trading course/seminars etc teaching the next lot of gullible news a load of rubbish because you’ve never turned a profit in your life.

 

[AlexCZ]

I recommend starting to learn options and use large open interest levels.

 

[chongjasmine]

Thanks, TS! What a helpful post!

 

[bulltradept]

Where should you start?
1 don’t listen to idiots on forums or social media, including me
2 don’t believe rubbish in books
3 don’t buy or attend courses, all rubbish
4 open chart, hit buy, lose money. Learn how that feels.
5 repeat
6 fathom what is going on
7 fathom how this applies to the person on the opposite side
8 realise it’s dog eat dog, no one is going to help you, if you don’t know who is getting screwed it’s you that is getting screwed.
9 learn that trading is a cutthroat business, it’s not a nice game of ‘fellow traders’ and such nonsense
10 develop a thick skin
11 learn how not to care one iota
12 lose some more money
13 and lose again
14 keep losing
15 etc
16 after your wife’s left you and you’ve lost your house you either start to become profitable or
17 you write a book on trading or start selling a trading course/seminars etc teaching the next lot of gullible news a load of rubbish because you’ve never turned a profit in your life.

Harsh man, harsh. But there's wisdom in some of this post.

 

[Quantt]

Harsh man, harsh. But there's wisdom in some of this post.

This might be harsh, but this is the recipe on how to become a "trading guru"

 

[AC007]

I would not touch brokers based outside the UK and the USA. FCA regulated in the UK.

 

[forextraderandrew]

Hey guys,

I am new to trading and don't know anything really. I have a friend who told me to join Auvoria Prime which has automated expert advisors. and trade forex thru them. Does anyone have any information? Would be a lot helpful.

 

[The Cube]

I am new to trading and don't know anything really. I have a friend who told me to join Auvoria Prime which has automated expert advisors. and trade forex thru them. Does anyone have any information? Would be a lot helpful.

I think it would be a terrible idea to launch straight into something like that. Apart from the fact they operate under a MLM arrangement (is it a real friend, or is he just earning money from you?) as a new trader you should do some research first.
There are many things to consider; your goals, timeframes, risk profile, instruments you want to trade, your circumstances, your financial commitment etc etc.
You need to do all this before finding costly resources.