Help

Beginner Questions
1

So where should I start? I’m brand new to Forex.

Thanks.

2

You can start with the School of Pipsology here on Babypips, it’s great for newbies.

3

First start with the Forex terms, understand what they mean
Then play around with MT4 platform, familiarise with it
Lastly, follow some real market analysts and learn from Forex academies.
There are many good websites teaching you the forex basics.

4

There’s a perfectly good school right here, no need to search out websites or academies that will charge for knowledge which is freely available here.

5

You have already started by joining us. So you need to take it gradually. Start learning slowly, no rush. It is very important you download the mt4 platform and register a demo account with any broker. I started with Profiforex. Learn to open and close trade. Find an mt4 tutorial video on youtube or any other source. Video is the best teacher. and make sure you start the babypips school of pipsology, at least the first classes. Welcome to Forex!

6

And stay clear of Indicators at all cost. To get a fast jump on things, the only indicators you should use are Moving averages.

Weekly 19 SMA, 8 SMA, Look long if 8 is more then 19, look short if 8 is less then 19, and under NO circumstances, deviate from them… This is by far the best way to learn market direction as a newbie. and From this day forward, DO NOT GO AGAINST THESE MOVING AVERAGES,

Look into price action, as its the best way to go about Forex.

Open that Demo AS SOON AS U CAN while following the BP school. Not sure why people say "I just finished school, now Im going to open a demo, smh…

Keep a journal, even being new, you must take notes. Treat this as if Your in College.

Good luck,

7

Play numbers.
Profitable trading = 70% psychology + 30%strategy + 5% luck

You can learn forex hard way tho: deposit $100 and trade like a madman until Market break you down. There are many options bro

8

Personally I would recommend to stay as far away from a live account as you can while you’re a total newbie and you’re still learning the basics. After you’ve learned that and you’ve practised for a few months on a demo account you could consider opening a small live account for practice purposes only. Don’t invest large sums of money until you see that you are able to make a profit consistently.