Where to start?

[Shalirad]

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]

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]

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]

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.

 

[liability]

1. Learn about forex trading
2. Demo trading
3. Go live

 

[Glastonburyk]

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.

 

[ForexWarrior2020]

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]

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]

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

 

[Felhamand]

You'd better start with the open free teaching materials available online. Personally, I started with babypips where I could find all the necessary information about forex market to start with. The articles there are structured the way which will make it easy to follow and understand the market step-by-step. You can also find the educational center here in the book section. I've heard that there is lots of useful materials there as well. You can alos find some video tutorials on youtube, but I'd take them with caution because of the fact that not all of the information mentioned there can be called trustworthy. More than that, I believe that it is better to absorb the information in the written form.