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any advice for greenhorns?

Discussion in 'Beginners Bootcamp' started by Dale wi, Feb 8, 2010.

  1. Dale wi

    Dale wi Recruit

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    a friend just brought to my attention FOREX Is ther any info you could pass along helping me get started? Totally green. thanks dale
     
  2. Kreia

    Kreia Recruit

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    Hey Dale! It would really help a lot if you could ask specific questions about what you wish to know about. My advice, is to read as much as information as you can around the web. But, keep an open mind on what you absorb, as not everything is the way a person or a website says it is. When you go live, you will automatically learn a thing or two on your own.

    Best regards,
    Kreia
     
  3. RahmanSL

    RahmanSL Major

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    Hi Dale, wi,

    I got involved with forex trading for some 4+ months now.
    I totally understand your uncertainties as you feel your way around this other world.

    At the start of my forex journey back in Oct 2009, I did the following:
    1) Go to various forex sites to download, print, and read all available manuals & information on forex trading.
    2) Learn and remembered terminology used in forex trading.
    3) Sign up for Demo Account with reputable forex brokers. Reputable brokers can be found by reading “Brokers Reviews” in various forums (such as here at FPA). Don’t be afraid to trade like mad in your Demo Account virtual money as these are just “play money”. I blew over USD250 thousands in my first two months of trading. Even my first Demo account BD manager was surprised I already blew more than USD100k within two weeks, and I had to ask for more virtual money to continue practicing on my assigned Demo account.
    I switched to MT4 trading platform a few weeks later and signed up with 8 other forex brokers. Since then, I have dropped 5 of them for various reasons (slow response, and even scam brokers). Sign up for weekly or monthly Demo Account competitions with some froex brokers and see how you rate against the other traders. I didn’t come out too well in these competitions but I kept on practicing to improve my trading strategy (if you can call them strategy!)
    4) The road to knowing forex trading is long, but interesting. Go to as many forex forums as you can find in the internet and get actively involved in the forums. Ask, ask, and then ask some more questions about forex. There are always seasoned forex traders who are kind and generous in answering your questions no matter how silly they may sound. You (and me) are Newbies and that’s our excuse.

    Go out into the wide cyberworld. Explore and learn about forex trading which will last you (and I) a life time and more. And meet up with interesting people whose generosities & good nature confirm once again that there are still many good & honest people existing on this otherwise jaded planet. On the other side of the coin, there are of course the conmen & women, the scammers, scumbags who are out to cheat, lie, and to steal our money. Just read more forums discussions and stay way, way, away from these nasties.

    Go out of your realm and have an adventure…like I am doing now.,.

    All the best wishes, and Cheers!
     
  4. Pharaoh

    Pharaoh Colonel

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  5. Eric Alyea

    Eric Alyea Master Sergeant

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    :mad:Gee Mr. Green ask a specific question.:mad:

    :mad:Gee Mr. Green ask a specific question.:mad:

    That’s like a 3rd grader asking a teacher how to spell a word and the teacher says:
    “Look it up in the dictionary”
    Well Ms. Teacher, 1st of all I’m dyslexic, (and who came up with title for people that can’t even spell what they are) and I won’t be able to have that diagnosis till I have a better teacher than you in the 4th grade.
    How am I suppose to look it up if I don’t know how to.

    Come on People (I’ve been hanging around Cowmadagan to long)

    I have fat clumsy fingers and if the curser is on “submit” I hit it at the wrong time and lose money.

    Keep your finger off the trigger boy (right click) and the safety on (curser OFF the submit tab) till it’s time to shoot (it’s easier to move the curser up from below than down.
    O.K.
    Baby pips (finishing it) is like getting your black belt in martial arts. “IF” you make it through the whole thing that means your fresh meat to be practiced with by the people that came before you. You know the "warm up" (how to make and close an order), and maybe enough to not get hurt when the big guys throw you to the ground. Roll after you take a hard chest punch. Your going to get hit (lose your money) accept it but learn how to take it (money management, discipline).:(

    I’m writing a review right now and have to sequester myself from cross posting. You’d have to do the search posts from the profile thing.

    Do what Pharaoh says, can’t go wrong with that and make it through “Baby Pips” Forex Training Online: Learn Foreign Exchange (FX) Currency Trading "ALL OF IT".:err: Don’t get horny with the street walkers (Brokers). Stay at home and practice with a demo till you know how to score.:p
     
    #5 Eric Alyea, Feb 19, 2010
    Last edited: Feb 19, 2010
  6. kevin roth

    kevin roth Recruit

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    Dale
    You need to get off the internet and everyone's play for the day. Try a place called Online Trading Academy. They teach you how to read a chart and how to trade from it. You also learn how to manage risk. The course is pricey but the methodology is money well spent. You have to learn how to read and interpet charts. That's how the pros do it. Call John Henek at 877-682-2442 to find a location near you and go to a free intro class.
    Kevin Roth
     
  7. Forexwatchman

    Forexwatchman Sergeant

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    Or you can save the money and potential risk of being ripped off, and learn it for free. I teach and analyze the EUR/USD and update almost daily at my own website Forex-Nation and then there are the posts provided here by Pharaoh Forex Basics Boot Camp - Forex Peace Army Forum and the list goes on from there. Good luck to you!
     
  8. RahmanSL

    RahmanSL Major

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    For all Newbies, check out “BEST ONLINE FOREX BROKERS” site and read the many articles listed under “Forex Trading Articles”.

    Cheers!
     

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