New at this and need your opinions

[annami2005]

Hello everyone. I am thinking of starting with forex or binary options (they seam easyer, don't they?) i know that i have to stady first in order to understant how it works. But i do not know where to start. There have been thousants of books and information ,which need a lot of time, and i am a little bit lost. What shouldi read?
I want to be involved with this for a few hours a day since i have a job and i don't have a lot of time. It seems to me that every time you want to place a trade you have to consider lots of factors. I have watched videos on youtube from guys that have 6 screens with charts and other things in front of them in order to decide what to do. Is that what really happens? Isn't there a quick way to decide what to trade? What are the things i need to know before placing a trade? And one final question ( i probably know the answer but i will ask nontheless) that softwares that say they give you signals ( most at binary options) in order to call or put do they work? Becauce that would be very easy and fast and ideal for those ho dont have enought time. I suppose the answer is that they dont. Sorry if you got tired readin this. Please help me!!

 

[Bordux]

First stop is Forex military school here on FPA. Once you're done learning the basics from there, you can work on deciding what kind of trader you are and choose a trading method based on that. There's SO many things to learn and hundreds ways to approach the markets while all you need is one to successfully trade the markets. I suggest picking one and only one thing that suits your personality and stick it with. You need is to pick what is relevant to you and avoid trying to digest anything more than that. As you've said that you have a job and can put in a few hours a day, you can probably estimate more than 6 months of learning and practising on demo account before going live confidently.

Edit: Forgot to mention, but those guys who have a lot of charts on the screen are probably simply interested in monitoring their favourite multiple currency pairs or time-frames without having to switch through tabs individually, so don't think about it too much and focus on education.

 

[dkami]

Welcome to FPA,

I have one piece of advise for you, stay away from binary options it's a SCAM

 

[annami2005]

Thank you

First stop is Forex military school here on FPA. Once you're done learning the basics from there, you can work on deciding what kind of trader you are and choose a trading method based on that. There's SO many things to learn and hundreds ways to approach the markets while all you need is one to successfully trade the markets. I suggest picking one and only one thing that suits your personality and stick it with. You need is to pick what is relevant to you and avoid trying to digest anything more than that. As you've said that you have a job and can put in a few hours a day, you can probably estimate more than 6 months of learning and practising on demo account before going live confidently.

Edit: Forgot to mention, but those guys who have a lot of charts on the screen are probably simply interested in monitoring their favourite multiple currency pairs or time-frames without having to switch through tabs individually, so don't think about it too much and focus on education.

Thank you for answering me. Six months? It takes that long? I hopped for something quicker. Ok i will start with this school and i hope to learn something thank you.

 

[annami2005]

Realy??thanks a lot!

 

[Pharaoh]

Realy??thanks a lot!

Yes, really. Read this:

https://www.forexpeacearmy.com/fore...raud-advisory-alert-about-binary-options.html

And then go check the broker reviews and Scam Alerts folder. On average, binary options brokers show a much higher rate of complaints of fraudulent activity than retail forex brokers.

 

[nahiyar]

Up to your interest you can start any business. In binary option you get some ratio of profit if your guess is right . In forex your field is vast loss and profit is totally in your hand. First of all get some experience of both. It will help what is suitable for you . I like forex than any other financial business.

 

[Ty_jowe]

Welcome to FPA,

I have one piece of advise for you, stay away from binary options it's a SCAM

Why? Have you had any negative experience with that or why do you think so?

 

[arigoldman]

Make it your everyday activity to do something Trading related, read the forum, watch the news, read articles, watch videos and of course trade.

 

[Whitesnake]

Already my army fellows have answered your query. So let me tell you with my own example. I was with the same mindset as that of you, to get started trading to earn money, but only to realize that its not possible. Thus, if you avoid this making quick money mindset you save a lot of money.

Start reading the basics, scale up your knowledge step by step - absolutely no hurry. Because once you master the forex market earning potential is so huge that its worth all the time spent. Follow the golden rules and never invest in holygrail software.