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New to this

Discussion in 'Hello and Welcome' started by neil salinas, Oct 9, 2010.

  1. neil salinas

    neil salinas Recruit

    May 5, 2009
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    Hi, my name is Neil and I'm looking to learn how to deal in forex and would appreciate any help that anyone is kind enough to contribute.
  2. cruikshank

    cruikshank Recruit

    Sep 22, 2010
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    Hi Neil and welcome to forexpeacearmy and forex trading. I'm still pretty much a newbie, been at it since July. I've only really felt confident in the last month about taking trades. I'm still only working with a demo account but plan on opening a live account soon. I'll pass on what's worked for me. First thing is I got a great mentor. A friend who actually got me into Forex. He has nothing to gain by getting me involved, he asks for no money and only is looking to share his excitement in Forex and wants to help me avoid the mistakes he made in the past 6 years of learning and trading. So if you can find a mentor, one who is successful thats a great place to start. You want to find a successful mentor so you don't learn bad habits from a losing trader.

    Next head over to Babypips.com and takes the courses in their school at your own pace. It's totally free and considered one of the best introductory courses. These are text & chart based. There is also a video based entry course over at bloomberg.com here's the link:

    Bloomberg.com: Personal Finance

    Get yourself a free demo account. I got mine at FXCM.com. There are other places where you can get one too.

    If you decide to trade using technical analysis ie: Fibanocci numbers, Harmonics etc there are two books I recommend:

    "Trade what you see" published by Wylie

    "Harmonic Trading Vol-1"

    Both are in the $60 range but I bought them used from Amazon.com for about $35 each.

    Be active in this Forum and ask lots of questions.

    Once you understand the Fundamentals I HIGHLY recommend following the teachings of Henry Liu on this forum. He teaches Trading the News. I also highly recommend his E-Book "Trading the News"

    That's plenty to start. There are lots of free videos on You Tube.

    Don't pay for any education or system without first checking it out here.

    One last website I highly recommend is DailyFX.com

    That's it for now. Good luck, Dave

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