Hi there i am new to forex

Hi there my name is Sean and i have recently started my FX journey in 2020. Currently I am 18 and still in education and was wondering what people would recommend they would do if they were in my shoes. I’m currently only doing demo trading until Im confident enough to go into the Market but was looking for advice for a step in the right direction.

Hi sean. My advice, is for you to focus in your learning first. Start with babypips information about the market, take notes (a lot of notes that you think relevant!!!) After u get some knowledge about the market, try to find a strategie that works for you and pratice in your demo account a lot!!! And search for knowledge in others books too!! I liked most naked forex, but there is other one’s good too!!
And if u can, find a mentor too to help you in your journey, it was what made a huge difference for me!! You need to put a lot of effort in it, if u want to be succeful in this market :slight_smile:
Good luck!!

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Demo until making regular profits then start slowly with real money…

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Thank you ill try to become as knowledgeable as possible before hitting the market also which broker would you recommend demo trading?

I actually use IC Markets!

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I think traders should never try to earn money quickly from this risky and volatile market. It can put them in great danger.

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If I was in your shoes I would spend as much time as possible learning and demo trading.

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You should be very careful. I’ll advice you to continue using a demo account until you have a steady source of income. Forex works best when you have money to play around with. If the Risks are high, your emotions won’t let you make good decisions.

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Thank you for the response I’ve been demo trading now for around a month but I think I need to keep at it until I have a firmer grasp, I have a few quick questions how much would you recommend I should deposit into my first live account and any risk management tips you have in mind.

As a newbie, you don’t need to learn everything that comes your way. In fact, your focus should be on one thing. Once you have done one thing properly, turn to the next one. This way, you can grow as a trader and enhance your knowledge. And of course, more knowledge means a more profitable trading career.