Learning Curve for Forex Trading

[WipThemPips]

Forex trading does look very appealing but I'm sure it takes some time to really learn it and actually make consistent profits from it. How long do you think it would take me to get enough knowledge to actually start trading a real account and make money?

[Angelo]

I believe that it will depend on your time, effort and determination for learning the trade. There are many free practice forex sites on the net and I would strongly recommend that you check on them, join them and practice forex thoroughly before you can invest. Never invest what you can't afford to lose.

[Mrs Wolfie]

That is an excellent suggestion. What is the minimum to make a trade? Does it depend on the currency exchange rate?

[ramrocket]

You can open a live account for as little as $300. Spend some time trading using a demo account before you put real money into the market. On a standard 100K account, you need to have $250 + potential losses per contract.

[PipDiddy]

Just becase you can open an account for $200 doesn't mean you should!

Please read The Number One Cause of Death for Forex Traders

Demo trade until your hands fall of and eyes pop out. Then get some bionic hands and eyes and demo trade some more.

[maxiexm]

I´m using the MT4, the minimum is 1000USD is this right?
I like it, but I´m new so you can advice me

Thanks

[equilibrium]

Originally Posted by Angelo

I believe that it will depend on your time, effort and determination for learning the trade.

I agree totally. One more thing that influences in one's learning curve is if he has the aptitude for trading or not. Some people will have a very hard time learning to trade, they are usually too emotional, not smart enough, are too bad at math, are impatient, greedy... the list goes on and on.


Sure many of these characteristics can be worked upon, but some will never change, and all other things being equal, those who inherently have better characteristics for trading will tend to be superior to others who weren't born so well suited for it.

[ingvardagmar]

You can go down the path most take. It takes a long time and you loose. They teach you stuff you don't need to know but it makes them money because you have to pay them. They want you to think it hard so you will think they smart and pay them to teach you trading secrets.

The other path is very simple. You don't lose because you learn see what price is doing. If you can see what price is doing you never have to loose. Learn to see what price is doing and you won't need all that other stuff. It not hard to do.

[equilibrium]

Originally Posted by ingvardagmar

The other path is very simple. You don't lose because you learn see what price is doing. If you can see what price is doing you never have to loose. Learn to see what price is doing and you won't need all that other stuff. It not hard to do.

What does it specifically mean to "learn what price is doing"?