Hello I'm new to forex trading

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marcudala

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My name is Marcin Udala, from Stockport, UK (Management Accountant, Accountancy4you). I have traded on a demo account for the last couple of weeks, but I know trading for real is different, so I'm just looking for guidance or help, to help me learn the market quicker or some information I can study to improve my trading skills. So far I have just been listening to the news and following what they have been saying and depending what they have been saying, I buy or sell. I have no idea how to predict what the graph will be next etc I have tried but failed.

Anyway if anyone can help me or give me guidance to improve my trading skills quicker that would be great. I'm happy to learn, ready to get started.
 

vortrade

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Nice to meet you, Marcin. I am relatively new here as well. I have read awesome reviews about this community and that's why I am here. If I see some questions posted by you, I will look to try to help as I've been trading for 10+ years. I def have a lot to learn, yet have learned a few things as well. How has the demo account gone and what platform are you using? What cross-pair? What type of trading are you doing? Would be keen to hear some details; I mostly trade the technicals and I will only trade divergence.
 

marcudala

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Honestly, trading forex feels like a mission impossible everyday; the moment I think I have figured it out...something difficult always pop up. I currently run a demo account, my cross-pairs are EUR/GBP and EUR/CHF and I have been trading position for the past few months now.

If you really trade divergence then you have to be really good at it, what indicators do you recommend?
 

vortrade

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I like the popular ones, ie the MACD, the RSI, StochRSI, and the CCI. I also use the Aroon Up/Down oddly enough as it helps me assess potential overbought or oversold conditions. And the ADX. On the chart itself, it's the Bollingers, Price Envelope, and EMA. I also recommend using a trading journal so you can gauge your performance and state of mind when in each session, etc.
 

HeavenLeighRob

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Hi Marcin! Hope you had a good Christmas and happy to see a new face here. My best advice is not to rush the demo and to look online on sites like YouTube, Babypips, etc. to help you with graphs and anything else you're struggling with. Good luck out there!
 

pezz55

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Welcome Marcin, don't put too much pressure on a timeframe when learning about Forex. Most work on a demo account for at least 6 months. Take a look at Babypips for the basics on the charts. There's lots of great videos on Youtube too.
 

Purecaster

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Hello, as for the guidance then I can advice you to meet all the material which you will find here, because it's very useful for beginning traders. Of course, sometimes you will not understand everything but it's okay. You also can pass additional courses somewhere else. The matter here for you is to learn how to trade and how to understand price changes. No doubts, that it might take lots of time for you, nevertheless you have to be patient and stay calm. In this case you will be able to reach any heights you want actually.
Remember that there is no fast money here, everything can be reached only due to hard working.
 
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Hi and welcome to the forum! Difficulties do pop up but don't let that turn you away - encountering and trying to solve those difficulties is a great way to learn. And you can always ask here if you have any questions.
 

SimonMatthews

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Hi, I am new here also, but not new to trading. A couple of weeks is not long to get to grips with trading. It can take several years to become a proficient trader. I would take a look at the Military School on here or Babypips to get a good understanding of the basics. Feel free to ask questions, there will always be someone who can lend a hand.
 

sebking1986

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I'll be blunt as many looks for a "quicker way" or a shortcut in trading. There are no shortcuts. Don't put pressure on forex to make money as that is often the root cause for wanting these shortcuts and that is a quick route to blown accounts and burnout. Take your time. Slowly develop your strategy by first understanding what it is you would need a strategy to be in order to fit arounf your curent lifestyle of one that you could easily and happily sustain. Too many want to scalp the market as they like the idea of quick returns but can only be in the markets for 10mins a day and force the trades which then often lose.
 
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