Am new to forex trading

#1

Hi am Sam my friend introduce me to forex after loosing my job due to covid but as I was searching on how to learn forex I found this community and I was interested I hope you welcome me here .I want to learn how to trade profitable

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#2

There’s no short cut. FX trading is simple but not easy, and there’s never any guarantee of making money, ever. Specialist skills take time to learn, many months of hard work are ahead.

best of luck.

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#3

Thanks for response Steve do I need a coach and if yes can you be my coach on forex trading

#4

Hey Sam! Welcome to the forum. This is a great place to be where you can learn tons about forex trading. I’ll see you around!

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#5

First and foremost start the education process, one learnig course at a time. Find out what suits you and your lifestyle. Then open up a SMALL capital DEMO account - low risk and lot size - and experiment with your favourite trading method. Do more of what works and less of what doesn’t.

After about three months you’ll be getting to know yourself - strengths, weaknesses and hopefully, an insight into how to control your emotional fear and greed. From which, everyone suffers.

When you KNOW you CAN trade live then is the time to seek out a mentor to carry you forward to becoming profitable. A warning, good mentors need to be in synch with your strategy, not theirs, and it will cost you. This is not a mentor recommendation, but look up https://www.citytradersimperium.com

For free tips en route, be free to post on here, most of us regulars are very helpful.

cheers steve.

#6

Entering the forex market is easy, anyone can do that. However, how it works can only be understood with lots of knowlege and practice. It is not mandatory to have a mentor , but you can have one if you like. It might make grabbing things easier for you a little.

#7

Thanks so much I appreciate

#8

You can practice on a demo account to learn many new things.

#9

You should gather knowledge perfectly before investing your money.

#10

I have been trying demo using technical indicators but it’s seem like they are not accurate how do I go about this

#11

I’m so sorry about your job. :frowning: I hope you and your family are getting by just fine. :frowning: Forex won’t be an easy way to regain your income but I hope it helps a bit eventually. :frowning:

#12

Thanks for your response rose were I did doing fine back here …would you mind to share with me your experience in trading

#13

Feel free to reach out with any questions. I’ve been trading for a few years and would like to help where I can. Trading can be very complicated very quickly. Save some time by learning the basics of the business (What is forex?), then go right to risk management. Technical and Fundamental analysis are important, but without capital management and risk management you will lose a lot of money. Especially in the beginning… Cheers!

#14

G’day from Gold Coast Queensland Australia. I’m Brett and I’m 57 and embarrassed about the size of my bank account. I’ts time I learnt a new trade, pulled my finger out and did something about it. Thank you for your welcome and will appreciate any pointers as I have a very limited understanding of fx trading or any trading for that matter. It would be awesome to talk face to face with a trader. Anyway, I was watching Chris from the swag academy on youtube and got me all inspired and in one of his video’s he mentioned BabyPips so here I am to learn. Happy to chat anytime. Cheers