Hello Babypips!

Hi everyone!!! My name is Stephanie from Houston, Texas. I am new to the trade and gathered so much information on how to provide my financial stability for myself and my family. Anyone have tips to look out for? I would love to jot them down with the rest of my notes.

Hi Stephanie!

Some general tips and direction that I follow:

  • Take your time with the material of learning FOREX. It’s very dense and you won’t learn it overnight.

  • Once you get an understanding of the different kinds of brokers, pick two or three to open up practice accounts on. Knowing how to use more than one broker’s system will help reinforce the ideas and info you learn.

  • Start with one currency pair, and try to get a system down for that (if you know you are going to be trading a certain time, you can use a pair you know typically will get a lot of action during that time).

  • Babypips does have a lot of information on Forex, but read up on other sites like DailyFX and watch videos on YouTube. You don’t have pay any money to learn FX, unless you start off with real money, then you are going to learn real quick what not to do.