Hello I want to learn more

Beginner Questions
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I am really interested in the Forex trading but i have no idea about this, what should i do ?

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  1. Determine how much money and or the % Rate of Return you want from it in order for Forex to be worth your while.

  2. Find a strategy that has or is making the Returns you want.

  3. Determine the Rules of the Strategy. Understand its use of Candlesticks or Indicators or Economic Analysis etc.

  4. Practice trading it on Demo for at least 3 to 6 Months. This is more than enough time to become accustomed to all aspects of the strategy including its advantages and disadvantages.

Many people spend years trying to create a strategy from scratch and end up not being successful. However if you find something that has already been created, you stand a better chance of learning and earning from it in a shorter time.

For me…

  1. Earning at least 100% annually is my goal

Screenshot_20180620-121739.jpg1920×1080 399 KB

  1. So far the Retrun from my new strategy has it my first target of 14% and the 30% is next in line…

Screenshot_20180620-121515.jpg1920×1080 316 KB

  1. My Strategy involves using Candlestick Patterns and Signals on the Daily and 4 Hour Chart to identify opportunities. I will either aim for
  • 50 to 70 Pips within 24 Hours or
  • 70 to 100 Pips over 2 Days
  1. Over a year was spent creating it using both Demo and Live Account and I shoukd be on my way to hitting those larger targets.

Check out my thread for ideas that might be useful for you.

Duane
DRFXTRADING

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That’s good that you want to learn the art of trading. But before that remember nothing is going to happen within few months. It takes time to be a good traders. Sometimes it takes few years. You have to accept this fact. There is no short. You can start with babypips school. After that read a book named The Disciplined Traders by Mark Douglas.

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What you ‘should’ do is forget the sales pitches - get only in touch with yourself, a quick check will show profit of 2% for drawdown of 21%.

If you are really a simple hat then welcome and good fortune with your learning, if not then as Clint would say …

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Start your learning process with BabyPips School, it’s one of the best Forex course.

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You can learn how to start a trading from the very beginning in this forum.

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Hi simplehat! Visit the School of Pipsology to start learning about the basics of forex trading. :slight_smile:

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Then you’ve come to the right place. Babypips will take care of all your forex worries. It helped me too when I had no idea about forex trading. People here share their valuable tips, suggestions and experiences which will enhance your knowledge. In time you’ll see the difference. All the best! :slight_smile:

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Thank you Olivia, i am grateful, I have started learning and gradually there will be a positive result.

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Start with the theoretical concepts of forex with the trading lessons of Babypips and then try other sources like forex e-books, webinars conducted by successful traders, You tube video tutorials etc. Once you are confident enough that you have sufficient trading knowledge then practice with demo trading accounts. It will help you to acquire adequate trading skills.

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Hi

In This Post, I Read All the Discussions and Yes From Babypips School of Pipsology You Can Learn About Forex Trading and It’s Easy

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With consistent hard work I am sure you will see a positive developnment very soon! :slight_smile: )

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This is simple and easy way that you have explained the way to learn Forex from scratch. I have been learning Forex since last year’s June. I think my appetite of learning is still not enough. I followed the same plan after lot of internet surfing. Now I think, I can start this as a career. DRFXTRADING your post is enough for the guidance to nebies.

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Thanks all the best to you.

Any questions you have let me know.

Duane
DRFXTRADING

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Good to see your patience, I have seen many novice traders who start trading just after learning the basics of Forex. But you still have hunger for learning, that’s nice.
You can start trading on demo account and keep learning.
Good luck!

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I appreciate your guidance, I am doing demo for last two months.

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Hi @simplehat

How you are

Hope you got the solution, many folks suggest to visit the BabyPips School of Pipsology, Yes here you can get the better solution and one more thing you can also watch the forex trading tutorials video on youtube.

Thanks

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Trading is mostly about loss. It is more like psychological or emotional career. Winning comes from losses.
You would face suffer in some situations, majorly because of loss, or few times, because of imperfect broker.
But if you’re quite ready for that. Here are some tips, kind of heavy ones but useful ones:

  1. No doubt “School of Pipsology” is great. Plan for it every day.
  2. Book: Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude
  3. Trade and practice little on Demo Account. I don’t recommend you to practice more on demo account. Since it can teach you bad habit if you take it lightly. Sometimes, losing real money can be your best teacher.
  4. Money management: Don’t deposit the amount with over-confidence. Plan accordingly. Family first. Diversify the risk.

I hope you take wise decision.

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Hey learn more and more from babypips. It’s the best way to learn to be a Forex trader. You can learn by demo trading. Start Demo trading with any broker. When you have completely learned then open a real verified account with your chosen broker. There is also a good chance to have no Deposit and Deposit Bonus you may get this bonus if you are clever.

[Edited for a Forum Violation]

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Thanks, I wanted to ask the same question, I will try to base and learn basing on your answer. Thanks again. The only thing I still don’t know is bitcoin. I don’t know if I should start or better forget about it:D