I would like to start trading, but I need to know which website is good, the market, what time is good to trade in South Africa, the losses and the wins. I went to Greg Secker Summit but yasas the dude’s package and mentoring is expensive, you need to be rich to get to Forex I presume. I need someone to mentor me and watch them trade in South Africa. Maybe if I see it live, it will be easy. Just help a brother to start his legacy
Firstly.
I’d recommend going thru all the education the BabyPips school of pipsology has to offer.
It really is all you need to know about everything the forex market is made of.
From theoretical knowledge of the markets and charts to all you’ll see and need to know practically.
Besides the theory, you’ll know what the different kinds of traders are and how they trade the way you do (scalpers, range traders, swing traders, etc)
Once you graduate from school, you’ll have an idea on what kind of trader you want to be.
Then just look for videos of people trading similarly and practice your strategy on a demo account to see if you can be consistent.
Hope this helps.
Forex is a very serious business for the new traders. You should know or learn forex and everything about it.
You will be happy to know that babypips have a school of Forex and it is sound good. So don’t wast time start learning forex then start business. I believe you will be succeed here.
It is very simple to start trading, first you should open an account to a broker then you must download a trading terminal. There are two terminal available Metatrader 4, Metatrer 5. and chose your one. setup the terminal and log in to your account.
Start trading…
Not necessarily. Many brokers have server-side applications so that traders [I]don’t[/I] need to download a trading platform at all.
There are countless others available, too, ranging from far more complicated and flexible than Metatrader (such as NinjaTrader) to far less complicated and much simpler (such as FxTrade).
Hi,
To be honest, i have started trading ever since i was 8. At that time, all i knew was that green is good and red is bad. I had no idea what i was clicking and definitely not what i was buying and selling. i was like this for years and years without knowing what i was doing. then one day i was so lost that my father told me to totally stop trading. i was then cut off from the trading world totally until recently when i am back. Now i am starting as an amateur all over again. In the time that i was lost, i learned that some of the most important things to know before we start trading is ourselves first.
What is your trading personality, are you able to stick with a trade for a long term and stick with it in times of losses that are temporary? this is a very important question that took me a long time to realise. once you know this, then only can you move on to find a strategy that suits you.
This part is a bit complicated because there are so many strategies that you can use or want to try out but will have a hard time documenting it.
if you are a coder or is comfortable coding, you can go to ninjatrader and test out your strategies and see which one is working.
Or if you are a normal trader like most other people, and not really comfortable with coding, you can use tradefist and test your strategies without actually having to code it.
Once you have found your perfect strategy, you then put in a little real money and start from there. From then on, no one can tell you what to do for you must decide yourself. But until then, you must make sure that you are sufficiently prepared before you enter the real world.
Cheers