I am new to Forex. I want to learn to trade and make money… After all this is why I am here. I have started in the “school” tab and I have the Reminiscents of a Stock operator on the way to help me with the trader psychology.
Once I go through the “school” on babypips.com, how can I learn to do this well? If anyone can direct me to something on the forum for neophyte newbies like me, I would be grateful.
I agree with Bazooko. But do not expect too much in the beginning. Also do not learn too much to start with or you will have a head stuffed full of stuff and much of it may confuse you.
When you open a demo with a chosen broker, learn how the commission is first taken from the pips. This part of the profit is not yours, it belongs to the broker. The broker usually charges between 4/5 pips.
Stay with common currencies, avoid the exotic.
Low leverage and setting stop losses are absolute necessities for starting out.