Hello all, I am Rengitu if its easier for everyone call me Ren ( I prefer Ren ) I’m a 19 year old newbie that knows pretty much nothing about trading in general although have always had an interest in the subject. I have been recommended this by someone I know and thought I’d give it a shot. I’d love to know any complete newbie tips that could help me in any way on my journey and if anyone is willing to share that I am way more than grateful, I am hoping someday I will be able to return that knowledge to someone that is in a similar spot I am currently in.
Try to find a mentor who can teach you the way of trading. It is better for you but it is not essential.
Hi, start with the free course here and ask any questions as you go…
Learn NOT TO LOSE MONEY. That’s the key to eventual success. Without capital you cannot trade.
best of luck.
You can visit the educational section of babypips to learn many new things.
Thank you everyone for the replies
When you say tips, click the education button and start learning about the forex market. After you have spent a few months understanding, it’ll be wise if you plan to go with demo account trading.
Good thought there Ren! Some things that helped me in the beginning were:
- Practicing extensively on demo account
- Trying out different strategies and indicators to know which one was easy for me to know about completely
- Having a proper backtested risk and money management plan.
Focus on expanding your knowledge about forex trading either through courses or journals, and stay focused. Don’t rush into live trading before 7-8 months. And when you start, begin with micro trading.