Hello.
My question is about time, how much time person must spend to start understand main things in forex?
I`m learnig for couple of months and found this site short time ago, there is so much information. The more new information, the less I understand.
Maybe, there is some examples based on experience?
Sorry for my English.
Hi.
Good to see you’re at the school, some nice scores.
Take as long as you need, it’s not a race.
There is a full time trader on here, Lexys, who spent 4 years learning. There are thousands on here who go straight into trading with no knowledge…my money says Lexys is probably more successful than any of those.
Why not open a demo account as you study so you can get used to the platform? Then, when you feel comfortable open a micro account and trade a few dollars live.
Best wishes
read some of my latest post and article that i had share
quite alot of traders here are losers only some are profitable
the more capital you have the more easier things are
if you dont you must build capital first
First, start with a demo account. Get familiar with opening and closing trades. Study the different types of orders and know when or how to use them. Study how to read the charts and it’s various default indicators. When it comes to charts use this resource… [B]MT4 tutorial and profitable forex strategies[/B]
From the link above you will find how to use the mt4 platform like a PRO. There are videos to guide you. Also, from the professional section you will learn how to make your own forex strategies, how to identify trends and when to enter or exit a trade.
So, how much does it cost? Learning forex is Free if you know where to look. Do not let anyone take money from you. If you are unable to use the link I have given you, then ask babypips to give you a better resource.
To put it simply, it takes as long as it takes. Some people need a few months, others - a little or even a lot longer, but if you are persistent and if you take your time you will notice how you are improving. You just need to be patient.
The research I did for my PhD showed a very clear split in performance between those with less than 3 years experience and those with more than that. Granted, that’s based on averages so for any given individual it could be more or less. The difference was quite obvious, though.
Interesting … from my perspective, because I think it was around the 3-year point at which I felt I started to understand what it was all about, and how it could be done.
Thanks for answers.
So I will start to climb this ,Forex, mountain.
Depending on his motivation, focus and learning process. Its took me 3 years
You’re welcome. I wish you a lot of success. Just take your time to learn and you will see how you’ll progress.
3years??? How would you rate your knowledge now?
Don’t be so surprised. If you want to make money out of trading, you need to treat it as a business. If you enter any business as a newcomer it will likely take at least 2 or 3 years to learn all the ins and outs of it. I know architects and lawyers who, even after 7 years of studying (architects) and 2 years plus another 2 years on training contracts (lawyers) still need another couple of years actually doing the job before they felt fully capable.
It took me longer than that (and I had resident expert tuition available from a successful professional trader who has been trading for decades - my father).
People typically overestimate hugely what they can achieve quickly (but also greatly underestimate what they can achieve gradually, [I]if they’re willing to do it that way rather than hurrying with inflated expectations[/I]).
Price swings are stipulated by changes in supply and demand (in balance between them, to be precise). Next step is to figure out why there can be changes in supply and demand on a particular asset. It can be
- If there are positive news ahead an asset will be probably in demand
- If there are negative news related to an asset traders will probably sell it off (risk of holding an asset increases it is also known as risk aversion).
Basically people tend to overestimate or underestimate the events happening. Your goal is to find overbought/oversold assets and buy or sell them respectively to obtain profit from it.
Let me know if you need more help to understand that.
Cheers.
While that is somewhat true, you missed out on currency trading made by real need, not speculating, like large companies making sales/purchases, central banks selling/buying reserves, and so on. Such situations are rarely found on the FX news websites, yet they occur in the interbank, causing a particular currency to move.
i do add this to a thread
any one telling you or showing you to start off from 100$ account is a liar and not well educated on babypips school and not taking the quizzes seriously regardless of the result , have no place to mentoring newbie
i mention the very good part of baby pips school and put the link bellow
How Much Trading Capital Do You Need For Forex Trading?
Finally, you need money/capital/funds to trade. Retail forex brokers offer minimum account deposits as low as $25, but that doesn’t mean you should enter immediately! This is a capitalization mistake, which often leads to failure. Losses are part of the game, and you need to have enough capital to weather these losses.
So how much trading capital do you need? Let’s be honest here, if you’re consistent and you practice proper risk management techniques, then you can probably start off with $50k to $100k in trading capital.
It’s common knowledge that most businesses fail due to undercapitalization, which is especially true in the forex trading business.
So if you are unable to start with a large amount of trading capital that you can afford to lose, be patient, save up and learn to trade the right way until you are financially ready.
Most important and most difficult is it to find correct knowledge to work with …
You need least 5-6 years with hard study of the market , a couple of thousand hours with screen time .
, 99.999 % of what you reading in this and other forum is BS…
Many people in forum living miserabel life and playing a role in forum who have absolutely nothing to do with the reality .
Im the only person in this forum who have posted a link to person who showing his hard evidence that he living of forex .
The sad one is if you holding out , you sooner or later will figure out that you dont have the necessary capital to living of forex …
It hadn’t occurred to me, until reading your post, that an interesting and potentially useful thread like this would present such an opportunity to a self-aggrandisement-seeker, but there you are: we live and learn. 
Well said, Lexy…
Then again, by a certain user’s standards, we are all losers … So, we better pack up and let a certain user take all the glory…because we are obviously dishonest and throwing smoke into newbies’ eyes for lucre…
Oh, Lexy, I do wonder, sometimes 
Agree with you, but lets consider trading approaches available for retail traders which don’t possess insider information. News (in it broad sense which also embrace political events, speeches of “talking heads” etc.) is the only available information for us which we can refer to correlate with sharp price changes on the markets.