Where to start?

Kirstysingy

Recruit
Messages
72
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.
I would watch videos first as I better learn that way when’s starting out
 

bigdolly

2nd Lieutenant
Messages
1,233
I would suggest to start from basic technical analysis tools like Support and Resistance, breakouts, pullbacks, trend continuation and reversals, learn common patterns and watch markets to understand in what circumstances these patterns appear and what can be correct risk reward settings for these patterns.
 

holycow

Master Sergeant
Messages
380
I better think that we can start with a demo account to see how the market works and learning how the forex trading process work through a demo account.
 

Vivaan Jua

Private
Messages
20
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.
I see you opened this thread almost 2 years ago, unfortunately I don’t know your current status of trading! But I hope you are doing well in there! By the way, new traders need to start their trading by demo account practice! But that’s not good enough; to be a consistent player, you should learn the skill of Forex trading chart reading! Don’t use too much trading indicators, because most of them will confused you in your live trading!
 

sebking1986

Private
Messages
553
I think the issue with forex is people can sometimes expect it to be an easy step by step guide on do this do that and you will be able to print money and, as most of us who have been doing this a while will know, that's not how it works.
 

Rabia

Recruit
Messages
2
It is better to start learning forex from the school of pipsology on babypips, through educational videos and by demo trading.
depends of you goal. First, start only with demo and secondly use demo trading at least 1 year



then detect what type of trading gave you more profit: investing, scalping etc

and then choose the right broker
 

fxoday

Recruit
Messages
719
depends of you goal. First, start only with demo and secondly use demo trading at least 1 year



then detect what type of trading gave you more profit: investing, scalping etc

and then choose the right broker
Demo account becomes the free place to practice trading without any risk, although face big loss, it will nothing loss in feeling, because only use virtual money, sometimes demo account used by an experienced trader to backtest any trading tool or strategy.
 

suka.m

Recruit
Messages
1
fully agree, always start with demo account. better to trade at least 1 year just to undestand how it works, what are comissions for short and long trading.
after a year you will know do you need vps or not, what instruments you would like to trade. it's not only about forex you can find here
 

holycow

Master Sergeant
Messages
380
What are the margins/spreads/leverage/pips/lots etc.. These all things should be learned on the first hand before learning other things in my opinion.
 
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