What is the best way to learn forex trading?

[forexnewsdaily]

I would like to start trading in foreign exchange, and I am looking for tips on how to get started with forex trading? I have looked at some of the trading platforms out there, and they seem quite complex and intimidating. Your help would be appreciated.:!:

 

[Rhody Trader]

A good starting point is the "school" at www.BabyPips.com

 

[trader545]

The most important - ask everyone stupid questions about everything you don't know and wanna know! If you ask now, you gonna feel stupid for 5 min., if you won't ask, you gonna feel yourself stupid all your life in this question It is always better to ask than to be silent!

But if you also want to know what professional traders think, just ask someone from a trading company or come to some kind of seminar. My first step was to come to my trader's (Real Trade Group) free seminar, where I understood, that forex is an interesting world full of opportunities

Hope it helped!

 

[who_am_i]

I second Babypips.com...that place has been awesome for me. Learned more than I ever thought I would. I am also using a signal service from Forex Gator to help me get some consistent pips from month to month as I am developing my own trading strategy.

I don't know how you feel about EAs, but I have had great success with MegaDroid...it has worked really well on my Forex UK account. Been using Bling too, but no totally sure about that one yet.

 

[Shikamaroo]

i think you should start by evaluating brokers based on 1)minimum account size 2)minimum position size 3) spread. after that learn how to use your preferred platform and pick your trading strategy

 

[tomo1]

that was my first impression too at my very beginning
don t be impressed though when you get into it , in less than a month the platform is like your website, and the market becomes more familiar. With experience it will get better...

 

[stephi33]

Hello,

Wanted to introduce myself, I am new on this forum
I like very much all kind of trading.
I m getting into forex trading more seriously, and would welcome any tips about good brokers or good trends to follow. I have my opinion, but I d like to hear from maybe more experienced traders.

 

[mikebondi]

maybe they should start charging so they keep thier site up i am seeing this thread as sort of pushing products and acting like people are trying to get info. if you look at the original poster he talks about wanting to learn forex and where is the best place to go then all of the sudden if you go to the link in his signature it is forex news analysis and forcasts. this is why i put 90 percent of forex products in the junk file

mike

 

[tradingyourplan]

I think you should start by contructing a trading plan. First you need to find out what type of trader you are, look into things like your behavioral, emotional, and personality traits. Are you a patient person, risk averse, discipline etc.. You can determine, what types of time frames fit your personaility. If your not a paitent person tehn longer tf's might not be for you and vice versa. Also look at different strategies and what appeals to you and fits in with your trading personality. Do not fight it , flow with it. Then demo trade the heck out of it to see if you were right in deciding what type of trder you are. The most important thing is to know there is no holy grail, work hard, make a plan and follow it. Plan your trade, trade your plan. We do not plan to fail , we fail to plan.

 

[Bint_Crusher]

Second anything about having a plan. Get an account/broker that allows you to trade mini lots then aim to take appx 10 trades per month wit a tight stop and a 3:1 risk every time. If you can achieve 3 profitable trades out of this then you will be profitable overall during the month. eg 10 trades @ 10 pips risk per trade lose 7 trades or 70 pips. Win 3 trades @ 3:1 risk reward then you will make 90 pips or 20 pips in profit. Forget about the people who say you can easily make 100 pips per week. If only. Just focus on capital preservation and as you become more consistent IE 20-50 pips up every monthe then you can think about making some money out of it.
CBs r C

 

[Pippy5000]

This thread may have dubious intentions, but there are others who will read it out of interest in how to learn trading..

In short, I learned trading by watching others.

Try DailyFx.com and Babypips.com

Your broker should have learning tools as well.

However, the best way to learn is to try, fail and remedy the issues causing you to fail. Use a demo account, then micro lots, then mini lots etc.

 

[Mikhail Kurakin]

I have a favorite saying, no one listen, eat bread and lard. Mean is that learning must always be yourself. View a demo account in the company and gradually learn in virtual money, passing reading books on Forex trading.

 

[trader_dante]

I would like to start trading in foreign exchange, and I am looking for tips on how to get started with forex trading? I have looked at some of the trading platforms out there, and they seem quite complex and intimidating. Your help would be appreciated.:!:

I would advise you don't begin with FX.

 

[dealer911]

I learnt to trade over 15 years by losing lots of money for the first 10 years - Then finally figuring out how to make a reasonable living for the last 5 years - Dont pay for courses or systems - spend your money losing and learning on the markets.

 

[jaspertrademaster]

I see what you mean mikebondi.

 

[HillaryDale]

I would like to start trading in foreign exchange, and I am looking for tips on how to get started with forex trading? I have looked at some of the trading platforms out there, and they seem quite complex and intimidating. Your help would be appreciated.:!:

Before considering investing in forex, you must see to it that you understand the basic concept of economics. You should also consider political stability as this will influence the values of stocks.Forex trading can be very risky, so I suggest you should first learn the basics. Try practice trading first before dealing with real money. There are a lot of trading tutorials available online. Spend due time browsing the net for more info.

 

[Hawki]

This thread may have dubious intentions, but there are others who will read it out of interest in how to learn trading..

In short, I learned trading by watching others.

Try DailyFx.com and Babypips.com

Your broker should have learning tools as well.

However, the best way to learn is to try, fail and remedy the issues causing you to fail. Use a demo account, then micro lots, then mini lots etc.

Hi,I am new to forex & have worked my way through babypips,just wondering what is a micro lot & mini lots please?
Thanks
Hawki

 

[papapips]

The best way to learn how to trade Forex is to get a school with a good teacher that will guide you and mentor you during your first week of trading.

I use tradetheeasyway.com is one of the best in the market and yo can registar for a free webinar to have to see if it suitable for you.

It is the only way if you want to be profitable, forget about get rich quick scam, this does not exist. Learn and hard work, is what it is to be profitable.

Hi Traders,

US clocks have already gone back this weekend so oil will open at 1pm and equities 1.30pm

Here is a short video (normally about10 minutes) of the markets talking about my view on the week ahead from the proxies to currencies, commodities and equities (US only).

http://www.thehamiltons.co.uk/14-03_10/14-03_10.html