I’m a total Newbie to the Forex environment and I need your help!
I’m fresh out of uni and have just began my very first job- so exciting! BUT, like every other person out there, I’ve got other plans and I need to start acting now if I am to see these plans materialize in the near future.
As far back as I can remember I’ve been enthralled by the world of Forex- so I believe that Now is the perfect time for me to start getting my foot in there and taking my first steps.
Right now, I’m pretty blue in the face about everything so I need Your help!
What do I do? What are the recommendations to starting out? Broker recommendations?
Anything? EVERYTHING?!
You’re going to need to define your own personal methodology in terms of how you will interact with the markets.
Think about it like this: You’ve just pulled out a perfectly rectangular incredibly hot piece of iron from a kiln. You now need to bang it hundreds upon hundreds of times to formulate a sharp enough blade to be called a sword. Only you can do the banging- no one will be able to take your arm and swing it for you.
What works for me, most likely will not work for you.
Trading is very personal, and more about discovering the truth within yourself, than making money.
Same here … Newbie in forex … wanted to make it in this new glittering world … difference is i jumped in head first.
My first advice for you is … Get comprehensive information about brokers!
What is it that you should compare about them?
Is there any representative office near you?
Which regulators that they complied to?
How much initial capital they asked you to invest?
Options in margin facilities?
Options in spreads?
How many pairs available to trade? can you trade commodities? Index? Gold?
Platform that they used?
Education facilities that they offered?
When you have choose your broker … then you can asked them to teach you the basics of the business while learning yourself in BABYPIPS SCHOOL so you can get grip on thing much faster and use your chance to use your demo accounts more effectively.
Ah thank you so much- it’s nice to see some logical steps that need to be followed!
I’ve been taking the courses in the babypips school already- seems to be going good
Much appreciated!
It’s a long journey ahead for us all- all the best!
