Where to start?

Shalirad

Corporal
Messages
121
You should start with basics, i.e. understanding the market and simple economic concepts such as supply and demand.
There are actually lots of different resources about trading forex online and some of them are free of charge. You can start with this website in military school section. The educational center here is made for the absolute beginners who don't know anything about the forex market and trading procedures. There you can learn lots of things and start implementing this knowledge on practice.
As for the broker, I don't think that I can advise you the exact broker here, but I can tell you whih aspects you should pay your attention to. First of all, it is official regulation. Despite the fact that forex market is becoming more and more regulated, there are still the chances of depositing the money to the scammed trading account. If the broker has an official regulation, it is highly unlikely to be a scam. Secondly, you should finf out where the broker started to work on the market. In most of the cases scammed brokers exist only for several months, so, if you see that the broker that you are interested in has been working for 5 or more years, you can make sure that it is trustworthy. Finally, you should pay your attention to the trading conditions which this broker offers to its clients. Some of the broker charge so much, that the traders have to give the biggest part of their profits to the broker in the form of spreads and commissions. More than that, if you are a scalper then see whether the broker allows short-term deals or not.
 

TareqS

Corporal
Messages
106
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.
At first, do a search on the internet. Watch basic forex videos on how to execute trade on a trading platform. Start demo trading. Keep trading and watch carefully how the market works. You will surely understand everything within like 6 months. Never stop learning. I am wishing you all the very best.
 

Bobulty

Recruit
Messages
1
You can start with different educational resources on line which are available to everyone free of charge. You can start learning on this forum in forex military school section, you can also go to babypips or you can find many tutorials on youtube. I believe that these are the best places to start learning forex trading from scratch.
 

Doomsinger

Private
Messages
20
You can start with some basic concepts of economics and then move to the market principles which you are interested in. It is better to start with learning something in general and then move to something which is more more precise. The same thing happens with learning forex, I believe. I could recommend you to visit forex military school on this forum or babypips where you can also find a nice educational center which was made for the absolute beginners and they explain forex trading from a to z.
 

Glastonburyk

Corporal
Messages
103
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.
It’s a real pain getting started mate. It seems there is no linear path with the amount of online education that there is. I would start personally with identifying support and resistance and the way that price interact with those key areas. What parameters would you seek in order to trigger a trade around those areas.
 
Messages
266
It’s a real pain getting started mate. It seems there is no linear path with the amount of online education that there is. I would start personally with identifying support and resistance and the way that price interact with those key areas. What parameters would you seek in order to trigger a trade around those areas.

Thats a good start and can also add in YouTube videos on lot sizes/risk management. These with a simple process of learning technicals you will be on your way. Patience is so key.
 

Luke_D

Private, 1st Class
Messages
53
You should start with basics, i.e. understanding the market and simple economic concepts such as supply and demand.
There are actually lots of different resources about trading forex online and some of them are free of charge. You can start with this website in military school section. The educational center here is made for the absolute beginners who don't know anything about the forex market and trading procedures. There you can learn lots of things and start implementing this knowledge on practice.
As for the broker, I don't think that I can advise you the exact broker here, but I can tell you whih aspects you should pay your attention to. First of all, it is official regulation. Despite the fact that forex market is becoming more and more regulated, there are still the chances of depositing the money to the scammed trading account. If the broker has an official regulation, it is highly unlikely to be a scam. Secondly, you should finf out where the broker started to work on the market. In most of the cases scammed brokers exist only for several months, so, if you see that the broker that you are interested in has been working for 5 or more years, you can make sure that it is trustworthy. Finally, you should pay your attention to the trading conditions which this broker offers to its clients. Some of the broker charge so much, that the traders have to give the biggest part of their profits to the broker in the form of spreads and commissions. More than that, if you are a scalper then see whether the broker allows short-term deals or not.
This is really nicely written.
 

Utopian

Private
Messages
22
According to me, for your initial start school of babypips is one of the best mediums to learn forex trading.
 
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