Hello all,
My name is Rens and I'm totally new to trading of any kind. There are a few things I know and way more things I feel I need to know (as I think any beginner should).
About this thread:
Before beginning my post I want to warn that this is going to be a long one. However I'd like to ask all of these questions in ONE thread. Questions that any beginner may find handy to start reading without having to come up with all these themselves. If new questions come to mind I intend to edit this post so it will stay updated, as, I hope, will the answers. I'll try to nicely layout all the parts of my post, so there's optimal clarity to all reading this.
What I already know or think I know:
Questions I think will benefit any beginner (myself included):
Thanks a lot in advance for answering. My request to people who react is: Try to line up the answers with the questions, so things are kept clear.
To all of you I wish the best,
Rens
My name is Rens and I'm totally new to trading of any kind. There are a few things I know and way more things I feel I need to know (as I think any beginner should).
About this thread:
Before beginning my post I want to warn that this is going to be a long one. However I'd like to ask all of these questions in ONE thread. Questions that any beginner may find handy to start reading without having to come up with all these themselves. If new questions come to mind I intend to edit this post so it will stay updated, as, I hope, will the answers. I'll try to nicely layout all the parts of my post, so there's optimal clarity to all reading this.
What I already know or think I know:
- There are an awful lot of scams/shady practices in the (forex)trading realm
- One should read up and ask questions before beginning to trade of any kind
- One should find people, tools and education that can be trusted, FPA can definitely help here
- Trade with money you can afford to lose
- I repeatedly see the Forex Military School recommended as a basis in Forex trading. Find it here
- I think I have some questions summed up here that will benefit any beginner in trading
Questions I think will benefit any beginner (myself included):
- Can I make a serious difference in income with an inlay of up to $5000?
- Is there any real possibility to make money in forex trading or should I consider another form of trading. In that regard, what are the benefits/downsides of forex trading compared to other forms of trading? I.e. what kind of trading would you advice and why that one (forex, commodity, daytrade etc.)?
- Reviews: There are a lot of sorts of reviews. As in forex trading software, education, trading systems etc. What should I take as a basis? Take forex software as a basis, or forex trading system, or forex education or something else? I see all these sorts of reviews.
In other words, which one is the most important starting point and which things should I look out for and add on later?
- How reliable are the reviews (as in (not) manipulated by the owner of the course/software)?
- How important are the "Expert advisor" and "Performance tested" icons in the review section of FPA? Tested by whom and Expert advisor according to whom? Is it trackable, what those performance tests found out about the software, what were the results?
- I see some forum members, who are quite active and engaged, like Pharao for instance. What would your recommendation be, regarding trading software and trading systems?
- I saw a section called Education from Huskins. Who is Huskins and why should/shouldn't I trust him/her?
- One of the best rated forex software programs was Magic Stick from 4xCircle.com. Does anyone know what happened and whether Haru Miyagi (the founder) is having some other project starting up? Are there comparably good programs?
- Are there any common pitfalls that beginners should look out for? Some general advice. Is there a convenient resource one can go to, that exposes these pitfalls?
Thanks a lot in advance for answering. My request to people who react is: Try to line up the answers with the questions, so things are kept clear.
To all of you I wish the best,
Rens