New to Forex trading & Need help Please!

I have heard about forex trading and i’ll like to understand forex trading because i signed up for a demo account but i still dont understand when to buy/sell. Please please, could someone mentor me on how to go about trading and the forex system good for new beginners. I NEED HELP!!!

Look for technical analysis on google…I suggest u to begin with support and resistance

Well you have to help yourself as well you know. How did you miss babypips school? Even the most cursory look at the homepage should have led you there as the obvious place to start

Thanks for the tips on how to begin Forex trading.

First of all welcome to babypips.:slight_smile: I am also a newbie to forex. Take Tony’s advise go through babypips school it helped me tremendously to gain a basic understanding of trading forex. Also while i was going through the lessons. I would go into my demo charts and learn to apply what is in the lessons. this ype of approach has helped me alot.

One thing at a time - it will take you 6 months to learn the lingo and get a basic handle on things, so take babypips slowly.

You will generate many questions.

At first, do all you can (research) to answer you own question. This is very rewarding and the best way to learn.

If, after researching, you cannot answer your question, then post it here on this forum.

Here are some questions for you to answer to give you a core of understanding :

  1. What is a pip?

  2. What is the difference between going “long” and going “short”?

  3. What is the definition of “equity”? How is it different from cash?

  4. What is a currency pair?

  5. What is a spread? How is it related to commission?

  6. What is a “bucket shop” broker?

  7. What is price action? What are 2 ways in which it can be represented?

  8. What is a “news release” ? How does it affect the price action?

  9. What is a timeframe?

  10. What is a stop loss?

Hi Angelzeyez,

Hang in there you will turn it around. Learn some good ole fashion technical analysis. Understand price action, volume and time. Stay away from lagging indicators. Always manage your losses, know your out before entering the trade. The biggest mistake traders make is not admitting when they are wrong and adding to a losing position. If you have your stop loss set, stick to it, live to make another trade. Small winners and big losses does not add up now does it.

If you can find a team to trade with, if they are profitable than it could be very helpful. We use an algorithm to trade as I believe in utilizing today’s computing technology.

Good luck,

Thomas

Just goes to show - good advice is timeless :slight_smile:

I think you should head straight to the school section on this forum and read everything there, trust me mate it worth the time and effort…just in case you need the link Learn How to Trade the Markets…cheers!!!

Yes school section of this forum is excellent to learn basics of forex trading. You will know all details here in easy language.After it use this learning in demo , Demo gives us awareness about trading atmosphere how pips , spread and profit loss is calculated and make in trading.

Hi… I am also very new to Forex Trading and the first advice is GO TO SCHOOL! :wink:

It starts at the very small basic knowledge and work its way up to…well, a point where you think your brain will explode. Mutch input from highschool level and further…but yet usefull…

Start with the basic and you’ll learn more and more as you understand this and that.

I started out first of all with trading like a gambler, soon I understood that I needed som knowledge to gain profit.
My first “controlled” trade was only based on a supportline on my chart and basic knowledge of support and resistance.

One thing is the basic knowledge that a car is running on wheels, everyone knows that…but only the mechanics knows the chain of components triggering the wheels to start rolling :wink: And how did the mechanic gain all this knowledge? …he went to school :slight_smile:

So…unless you already has signed up for school of pipsology…move your ass now!

And good luck :slight_smile:

IMHO I wouldnt buy an EA or pay for classes. 99% you can find on your own.
the best way to learn is by doing and learning from your mistakes and look back at what was different from winners and losers.

begin forex trading is simple , you can search on google about forex broker, choose one and visit their sites then download platform of meta traders to trade on forex market with create a demo account first

I agree, as with most things in life you have three options: Cheap, Fast, Useful/Good. You can only pick 2.

Hello!

I think that the right step is searching and reading. Just realize that you understand all that other people write, for example, on this forum, all the terms should be quite clear for you. And try and once again try Demo, this is what you really need!!

As far as Forex trading is considered we have to choose what is Good, and what will give us more profits in the long run :smiley:

Just go and sign up for the BabyPips course for beginners and that is where you will get started understanding everything about forex trading.

How to begin Forex trading ? Please help me

All explained, right here: School of Pipsology | Learn Forex Trading

A trader has to spend a lot of time reading because only in this way he can learn a lot about forex market. After that comes the practice time in which he has to practice in a demo account.