Where to start?

[johannamikaela]

I would say start by reading ebooks and following reputable forex mentors on youtube

 

[fxoday]

I would say start by reading ebooks and following reputable forex mentors on youtube

Youtube video maybe help to get more understanding by example, however the final result depends on us, discipline is very important to keep quality trading.

 

[Investfox]

1. Open a brokerage account.
2. Set a stock trading budget.
3. Learn to use market orders and limit orders.
4. Practice with a paper trading account.
5. Measure your returns against a fitting benchmark.
6. Keep your perspective.

 

[bigdolly]

Start from demo trading, basically I think the best way to approach this business is start practicing extensively, thankfully almost any broker offers demo platform with various charting tools as well as powerful backtesting engine like in MT4 if you want to see how your trading idea performs on historical prices.

 

[chongjasmine83]

I am currently reading about forex trading at babypips.

 

[bigdolly]

Have you looked at FPA Military School? It's an excellent resource, gentle introduction to trading basics with gradual progression towards advanced stuff up to building your own strategies.

 

[jake_robins]

I'm getting very confused. How do I start understanding the process. Actually, what is the procedure to start with Forex.

Once I read a short book on Forex and knows a very little about Broker. Please, help me to start.

Thanks in advance.

To start trading in the forex market, you can follow these general steps:

1. Learn about forex: Start by educating yourself about the forex market, including how it works, the major currency pairs, trading strategies, and risk management techniques.
2. Choose a broker: Select a reputable forex broker that meets your trading needs, such as their trading platform, account types, fees, and customer support.
3. Open a demo account: Many brokers offer demo accounts that allow you to practice trading with virtual money before risking real capital.
4. Fund your account: Once you're ready to start trading with real money, deposit funds into your trading account.
5. Place trades: Use your trading platform to enter trades, monitor the market, and manage your positions.
6. Monitor your trades: Keep an eye on your trades and use risk management techniques such as stop-loss orders to manage your risk.
7. Evaluate and adjust: Regularly evaluate your performance and adjust your trading strategy as needed based on your results.

It's important to note that forex trading involves risks, and you should carefully consider your financial objectives and risk tolerance before starting.

 

[NikolaIvanov]

Online courses: There are many online courses available that can teach you the basics of trading, as well as more advanced strategies and techniques. Some popular online course platforms include Udemy, Coursera, and LinkedIn Learning.

 

[Juanstevenson19]

1. Master the basics from online course, Youtube videos, books, or articles
2. Choose a broker and open an account
3. Trading in a demo account and practicing your strategy
4. Set how much capital you want to use for trading
5. Start trading in real account
6. Do back testing, forward testing, or test it in the demo account before trading your strategy

 

[erre4trade]

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