Another Newbie Introduction

Hello everyone,

I’ve been a fairly long time lurker here on these forums.
Several factors ,which mainly includes the friendliness and support that everyone provides to others, encouraged me to sign up and introduce myself.

I am an IT professional during the day and plan to start forex trading as soon as I find myself ready and qualified. For the past couple of weeks, I have been going through the school of pipsology which imo is the best and most elaborated resource for beginners like me. Thank you Babypips :smiley:

I am planning to trade on Forex during my freetime which is mostly after working hours (starting at around 15:00 GMT). I will go with long term trades since I believe it is best for starters.

I have been practicing using a demo account for the past 2-3 weeks and so far so good. I still need time to get used to all of that techie stuff and terminology :eek:

Thanks everyone and I hope I’ll be able to contribute to the community somehow :wink:

Welcome. Don’t worry about all the techie stuff, you’ll soak it in really easily. I was also in IT. Its important for us to retain information lol. I remember having the hardest time trying to differentiate buy limit, buy stop, etc. but then it just clicks. I started learning about 5 months ago and I must say, I KNOW for a fact, that putting more time and dedication into this will make my future bright. I feel like I already know so much at a early stage but knowledge is limitless. This site is VERY resourceful.

… Stay on point

welcome to babypips :smiley:

I sure will make use of this site :).
I will be dedicating more time for my Forex studies because as you said knowledge is limitless.

Thank you :smiley:

I’ve been reading about why it is not safe to start an account with a low balance such as $100 or $200. Is that because of the risk of a margin-call or is there some other factor here?

it’s safe if you use a micro account.

Even safer if you use nano lots.

Welcome to the forum! I started my journey here last year and it’s been quite a journey.

Stick with, trading is a practice that gives you rewards if you work hard towards them.

Manage your risk and manage your money and read, practice, and then read some more.

Goodluck.

Don’t drink Starbucks mocha lattes for 10 days, use the money to fund an Oanda account. Voila, a cheapo live account with the freedom to use however many units you want to use.

I have a mini account under InterbankFX. You can use lots as small as 0.01

They only way to get a margain call with $100 acct using 0.01 lots is if it went 10,000 pips in the wrong direction (never should anyways as you should always have a stop-loss). Money management is a very important aspect.

Thank you all for the advice