What is the best way to get started in trading?
- Thread starter Devante
- Start date
HeavenLeighRob
Master Sergeant
- Messages
- 347
The best thing to do is start with the basics and utilize free resources online. There are entire websites dedicated to this, plenty of YouTube videos, articles, and forums you can join. You can also eventually open a demo account through a broker for practice. If you don't want to spend money you do sort of have to guide yourself and it can be overwhelming at first, but it's very possible to do. Wishing you luck!
Vivaan Jua
Recruit
- Messages
- 51
We mostly lose the exact track of our trading that makes us sufferer by the end of the day. Expert traders have an aim to make profits with low risk and it’s the most appropriate decision of trading.
Magestaff
Private, 1st Class
- Messages
- 33
It may sound a bit weird, but the best way to start trading is just start trading. I mean don’t waste time on demo accounts and other artificial training modes. Equip yourself with the bare minimum knowledge about trading in general, e.g. margin calculation, pending orders and how they work, basic risk management requirements.
After that you can start trading directly on a live account with the minimum deposit, using the most elementary strategies and indicators.
Just remember only practice makes perfect!
After that you can start trading directly on a live account with the minimum deposit, using the most elementary strategies and indicators.
Just remember only practice makes perfect!
First of all, it is essential to get educated about Forex trading. There are various resources online which you can take advantage of in terms of paid/free courses, video lessons, articles, tutorials, webinars, and so on. This will help you to get on the right starting point, and most importantly, you have to take into account the following advices - in the beginnings, trade as much as you can afford to lose and keep your emotions under control!
Androlen
Private, 1st Class
- Messages
- 40
One thing I would like to put emphasis on is getting a mentor. It is like starting to fitness with a personal trainer from the ground up.
People are just jumping into the markets without any external help or any proper knowledge, some just luck out and get a few successful trades, but that luck obviously fades away in a short time. Others just learn bunch of wrong stuff and lose their shirt and blow their accounts up in a few trades.
But when you have the experience where you have acted on just wrong education and information for extended amounts of time, it is going to be really hard to learn the right stuff, because the wrong information is already written and hardcoded in your brain, you need to get rid of the bad education, wrong techniques and strategies first, and then get the right information up there.
Easier to find a good mentor and learn the right things to do at the bottom of the ladder.
People are just jumping into the markets without any external help or any proper knowledge, some just luck out and get a few successful trades, but that luck obviously fades away in a short time. Others just learn bunch of wrong stuff and lose their shirt and blow their accounts up in a few trades.
But when you have the experience where you have acted on just wrong education and information for extended amounts of time, it is going to be really hard to learn the right stuff, because the wrong information is already written and hardcoded in your brain, you need to get rid of the bad education, wrong techniques and strategies first, and then get the right information up there.
Easier to find a good mentor and learn the right things to do at the bottom of the ladder.
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