Complete newbie. Where shall i start?

I’ve been reading upon forex and stocks on and off for years but never really got into it. I read the intelligent investor but in the end stocks never really excited me. I then went on to forex about just over a year ago but got kind of distracted with other things in my life. Now though, i want to put a lot of time of effort into forex trading and hopefully turn it into a career.

I have 0 experience trading. I’ve just opened a demo account on mt4 and will slowly watch and analyse the charts day by day. For now i’m using a daily chart timescale. I will also be going through the babypips school on here.

My questions are…
What books, in order, would you recommend a complete newbie to read?
What videos/articles/blogs can i follow? Youtube accounts? Websites?
What news channel can i watch to keep me updated? I notice a lot of traders follow the news but i don’t really know what news to follow.
Anything else to add that could help me?

Actually, you could learn a lesson in this forum, babypips. You need to learn about the origins of the money, then economic and other indicators. So that you can become competent traders.

Hi.

Google free ebooks on forex – there a bunch of good ones… work throughout the baby pips material on this site as well.

There are a ton of videos out there – search youtube – and find something that speaks to you, different people have different tastes in it.

For news, I like bloomberg – but there are also a lot of sites that aggregate news – you want based forex/financial news – you can also just search google news. Also, take a look a financial calendar to see the big announcements that are coming out – the biggest one every month is the NFP on the first Friday of the new month – USD/EUR moves like crazy based on it…

I would add that you shouldn’t spend lot of time on demo trading. Once you get used to the platform and learn how everything work there you should move to a live trading with some small account and start trading while you educate yourself. This means you will trade your own money and you will get a real experience. Learning through experience is the best way, means making mistakes and learning from them.

Specific books that I found very helpful in any kind of trading (not just forex):

[B]Come Into My Trading Room[/B] or [B]Trading for a Living by Alexander Elder[/B] (very good for beginners, it explains all the different aspects of being a successful trader such as having a method, money management and controlling your mind/psychology. It also gives you an example of a multiple-timeframe trading method.)

[B]Technical Analysis of the Financial Markets[/B] by John Murphy (a very good technical analysis book to make sure you understand how to read charts. I preferred it to the Magee book.)

The final book is [B]Attacking Currency Trends[/B] by Greg Michalowski (this one is focused on forex. Useful because it shows you how to use indicators as a guide rather than as pure entry signals)