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How to start? is it difficult?

Discussion in 'Beginners Bootcamp' started by annami2005, Nov 14, 2015.

  1. annami2005

    annami2005 Recruit

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    Hi, everyone. I have just started reading the forex military school here in forex peace army. I have finished the second chapter, so far so good. I have no experience at all at the market i have study something entirely different from financial and economy, (computer science if it makes any difference). How hard would it be for someone with absolutely no idea to understand this kind of thing and manage to do it successfuly? Is there anyone else with no experience who manage to make money from forex? i need to get some courage because the ammount of information from this site is enormous and i am lost. The school here is the only thing that i need? By the time i finish it i will be ready to trade? (at least on a demo account) or i need to buy other books or something else?
     
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  2. downtrend

    downtrend Sergeant

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    Start is exciting, if you are learning on your own then you will realize that you can get into many bad habits. So try to find a good mentor and learn from him.
     
  3. WatanFX-Rep

    WatanFX-Rep WantanFX Representative

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    If you want to do it professionally, then give yourself a window of at least 5 years.
     
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  4. EuroTrader

    EuroTrader Sergeant Major

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    I can say that the time it will require for us to do such type of trading that can become profitable is not known and will only depend on the trader himself and his trading methods :)
     
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  5. Umang Singh

    Umang Singh Recruit

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    Hey Annami, since you are from a different background altogether, you will need time to understand this stuff. But yes if you are good at numbers and can relate to the financial and economic world, this field might seem interesting for you.
    Forex trading is a big ocean, so to understand it do go through its basics and as rightly said by the guy 'Downtrend', you must surely get a mentor, who will guide you in a right direction.
     
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  6. JenalAripin

    JenalAripin Recruit

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    Agree with this. But not anyone deserves as a mentor, try to avoid some mentors who are just giving too much fantasy about your future in forex, cuz that person is indicated as broker's salesman.
     
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  7. Bordux

    Bordux Recruit

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    Hello Annami2005. To answer the topic's title questions - it is not difficult to digest the learning material, but taking time to learn may prove to be overwhelming and time consuming. Just like you - I've started with no former knowledge about the markets and have taken my time to learn everything from the scratch. Unlike you I haven't got a degree yet (planning computer science as well :p) but this only proves that any person with any background can learn. The forex school here at forexpeacearmy.com is a great place to learn everything about everything. Speaking from my personal experience, when you finish reading all the articles here, I suggest learning to read the markets with nothing but price action before trying to read them with the help of indicators (indicators are made using price action, so following primary data is better than following secondary data). I would say that you might take up to 6 months, if you are honestly learning, to learn the theory behind the markets and to learn a trading method that you fancy. Personaly speaking, again, I took exactly 5 months to learn all I need to trade from the scratch and after that it's just sharpening your skills with screen time. I'd recommend a mentor that I really like in this post but I believe that would be against the forum rules, isn't it? So shoot me a pm.
     
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  8. ForexVerified

    ForexVerified Private, 1st Class

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    Yes, when you finish the school here you can try (even as you learn) on a demo account until you feel comfortable. But never forger this: always use stop loss and never stop learning.
     
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  9. EuroTrader

    EuroTrader Sergeant Major

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    A Demo trading account helps as it allows a trader to know about the various types of trading systems and also see how he can benefit from using them :)
     
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  10. victoriajensen

    victoriajensen Private, 1st Class

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    Successful trading takes time, patience and experience. I wouldn't call it hard, in the sense that it's not difficult once you know what you're doing, but one should take the time to learn. There is plenty of free information on the Internet - tutorials, videos, books, etc. And one should definitely exercise on a demo account first before even considering getting a live account.
     
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