Hi there, new to trading :)

Hi everyone, I’m Adam, 27 years old from Manchester. I currently work full time in warehouse distribution and was informed about this site from a nephew of a former colleague. I’ve tried to trade binary options with the help of so called “professionals” and lost quite a chunk of money. After hearing about Forex, I’ve decided to try and learn as much as I can about trading in these markets because I believe the financial rewards can be amazing, however the losses can be just as bad without proper risk management. I trade on the CMC Markets platform with one of the demo accounts to try and understand how the markets work and currently I’m working through the babypips courses and quizzing myself regularly. I’ve also invested in a book called the 3 dimensional approach to forex trading which was advised to me by a mentor so I am trying my best to understand as much as possible before I dive in with real money investment.

The main problem I have is that I don’t have a really high capital… only can really maybe start with £300, so the mentor told me that maybe a wise choice would be to trade at 0.30 per pip with a stop loss of £3 that way I can do at least 100 trades.

Its nice to meet everyone and would appreciate any advice or guidance :slight_smile:


Hi Adam! My name is Dmitriy, I have been trading in the financial markets since 2007. I should tell you that 300 GBP it’s ok. You should not think that you could turn 300GBP into 3 000 000GBP for one year - this is not good idea, I should say this is stupid idea. But to safe this money, get stable profit and learn how to trade correctly - it could be your way if you wish. What should you do? My advice as trader who spent to much time for searching right direction. You should pass Babypips school firstly in order to get the basic level of theory. Then if you interesting in Forex you should read “Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves” by Kathy Lien. It’s great book where you find all information for practis trading. You will find several trading strategies which you could use. As for your deposit - I offer to open account on eToro - the best social trading network for novice traders. Find 2-3 PRO traders and copy their trades on your deposit. When you study the theory, you deposit will work also. When you have the basic theory, decide which trading system is suitable for you, your deposit will be more then 300GBP and you can try demo trading first, and then trading with minimum lots on real money. eToro allow you to trade with minimum lot that your deposit. My opinion it’s the best variant for all who wants to start trading. Need more information - please let me know. Good luck!

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