Getting started


I just wondered how long it takes to complete the reading and get started. Also are there any video tutorials to help with the learning, after 9 hours in the office reading off my laptop the thought of another couple of hours on top isn’t always that appealing!

Many Thanks
J :slight_smile:

Getting started in forex you need to first understand the basics of forex trading .Then you can choose a broker using a demo account to practice and have a better understanding of the market.And many other things that contribute in forex trading. Some of the websites offer video and tutorials in forex which you can learn from like the babypips school.

When you first start out, you should definitely open a forex demo account and try out some demo trading. This will give you a good technical foundation on the mechanics of making forex trades and get used to using a trading platform. Demo account is the best way to learning without risk. In this case to learning about the trading sistem. But next step we also need learning and practicing for the psychology, so using a real account will be better. But make sure to make deposit in less margin.

If you can’t spare 2 hours a night I suggest saving your time and money. If you can well best be hitting the books bro. No short cuts here. Just ask the markets.

For ever. You want to go to the trader graveyard, always keep an open mind and keep practicing what you’re learning. It’s easy to learn the black and white things about forex cause there’s not very many and white to learn. However, what kills your trading or makes your trading is the grey areas and when it comes to grey there’s a whole lot.

It all boils down to making good decisions based on relevant facts, relevant options and picking the least of the evils and to be successful at that you have constantly be learning and practicing things that will make you a better trader.

Just like when you were a baby: first you crawled, then you walked, then you ran and then based on information, options and picking the least of the evils you learn to run. So start with crawling which in forex is building a strong foundation, through baby pips school, utube, articles, this forum. Practice Practice and Practice on a demo account, until the trading platform, indicators, volume, momentum, trends etc are all second nature The more you understand about the basics the easier it is in the next stage would be building your trading strategy that has been tested (not back tested) tested by you giving you more trading experience.

Time to walk. By now you’ve picked your broker, you have the beginnings of what may be your trading method, you’ve learned about money management and how important it is so you’ve tested your trading method and money management plans, now time to open the live account. Your first live account should be smaller than what you’ll actually be trading with. The small account gives you a taste of what it’s like trading with bigger bankrolls, the pressures and allows you to practice patience and discipline.

Next is the run, you’ve tweaked your trading method, and money managent plans, you;ve tasted success and failure in your live account, you kept your demo to practice new information pertinent to you.

Next comes the race, you’ve build a strong foundation, you have a complete understanding of how your trading method, money management plan, patience and discipline all gel together to put the blance of probabilities on your side when trading. You live by the most important trading rule. Trading is long term. Don’t let one trade or one session or one bad experience derail you.

It doesn’t matter how much time you have, what your financial situation is, family situation or your personality. What matters is you learn to crawl, then walk, then run, then race and be in it for the long run. If you do the above you’ll find out as you move along, everything starts to make sense, you understand what’s being thrown at you and if it applies to you or not. Anyway hope that helps
Good Luck

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Like Bob & GP said, there are too many variables to answer this question objectively.
My answer though:

Output = Input.

Never forget that.

When ever you feel that you are ready you should stated, but your start should be very careful and your expectations should be very realistic. It is very important to start with the right mind set. Learning before earning.

In getting started in forex trading getting forex education should be paramount and in choosing a broker it is important to review and compare the options of each broker closely and choose the one that makes you comfortable.

I notice you’ve been a member since Jan 2013, what have you been doing for the last 22 months?
At this rate you’ll never be ready to trade.

this might be an interesting thread for you to read, just take a look at it for ten basic simple steps i find really really worht while. 301 Moved Permanently

+1 on that. Every trader is different and some learn faster than others while most will never learn. In the end you do get the quality and quantity of work you put into it.