Hey!
I’m brand new to Forex and trading and I honestly don’t have a clue where to begin. Do you have any advice on how I should get started?
Welcome!
Start at the beginning, with the basics: Learn How to Trade the Markets
Choose a broker and open a demo account, practice what you learn as you learn it.
Be patient, success here doesn’t come overnight. Just like any career, it takes time, money and experience to get good at it. But if you’re in it for the long haul, it will come.
Good luck!
Definitely, I have some pieces of advice for you. You have to start trading on demo account as part of learning. You can hire a trainer too to do so. After that you have to select a good trading broker to trade.
welcome to this educated family , you can start with psychology of school from this community . this community is very supportive
start small with real ac,get some experience ,and give up
demo is okay , but the main fact is the experience we take from demo actually not works in a real account at all. this is the main reason why traders ignore the demo account
Demo is good for learning the basics. But, I agree that experience only comes through real life mistakes. One way or another you’re going to pay for your your training.
That is all total BS. I’ve traded on a demo for years before I started trading for a prop firm and that’s how I learned and I suggest everyone do the same thing
That statement contradicts what you’re trying to say here
Perhaps opening a live account would have accelerated the learning process. But I guess we’re all different.
Oh my goodness! The School of Pipsology link is absolutely ideal. I’ve only just begun.
Thank you so much, I checked it out and it’s really fantastic!
Nice! Good luck with the School! Don’t forget to take the quizzes after each lessons.
You should measure your trading capability on demo account first and then start on live trading. You can join social media groups to observe how people are trading here.
Starting out in forex trading can be overwhelming, but there are a few steps you can take to get started. First, learn the basics of forex trading, including terminology, market hours, trading platforms, and the different currency pairs. Educational resources can be found on Sorex’s website or other trading platforms or courses. Then, create a demo account on Sorex or another forex broker that allows you to practice trading in a risk-free environment using virtual funds. This is an excellent way to get a feel for the market and try out different trading strategies without risking any real money. Develop a trading plan that outlines your goals, risk tolerance, trading strategy, and money management rules. This will help you stay focused and disciplined while trading. When you’re ready to start trading with real money, start small and gradually increase your position size as you gain more experience and confidence. Monitor your trades closely and adjust your position as necessary, keeping an eye on market news and events that may impact your trades. Remember, forex trading involves risk, and you should never invest more than you can afford to lose. It’s essential to remain patient and disciplined while trading and to always keep learning and adapting your strategy based on your experiences in the market.
You can follow expert traders’ trading and use demo account to enlarge traders’ trading knowledge.
When you say “follow expert traders’ trading,” are you talking about copy trading?
I have no other option except for starting forex without trading on demo account.
Reading and studying economics, charts, patterns etc, get a good grip of the market you’re trading in. Trade small, very small for example if you have $1,000.00 account, trade 0.10 of a lot, be patient and manage it. Eventually years down the line trade 5.10.15 lots at a time, if you’re trading for a firm (if you make it that far) they allow thousands of lots to be traded, but that doesn’t happen overnight I can tell you that. There is no “Holy Grail,” so beware of scams and EAs that are just trying to take your money, individuals as well. Don’t trade the news, don’t trade on gut feeling, don’t trade when drinking, and never trade based on someone else’s idea. Good Luck
You will find several trading tutorials available on Youtube that you can watch and thus trade on demo account.
Hey there!
From what I’m seeing in the other comments and answers, it looks like there’s no other option.