I want to learn how to trade and make money daily
Hello @Yvette3! Welcome to BabyPips.com!
If you’re eager to start learning about Forex, we suggest that you make your way over to the School of Pipsology, our very own guide for teaching beginners how to trade the foreign currency exchange market. We start you off in Kindergarten, teaching you Forex basics, and you progress all the way to College, learning more complex subjects. This is all self-study, done at your own pace. Along the way, stop and take one of the 50 forex trading quizzes to make sure you’ve retained the knowledge.
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When you learn how to trade properly, you’ll learn that you won’t make money daily - because FX is a speculative endeavour and making money is never, ever guaranteed.
That’s the reality.
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If you are interested to learn the Forex trading then you are in right place and can go Learn How to Trade the Markets here and can find your required material for learning.
You can start with a demo account.
You can go to the school of babypips to learn many new things about forex trading.
Of course, there are some rules in trading that every trader should follow. If you can’t maintain discipline, plan money management, risk management, etc., it is never possible to follow those rules.
I would readjust your expectaions. There may be days where you don’t trade.
Does not have to be daily. You can learn to trade and expect good returns after days or weeks. Forex is profitable to those who learn to wait.
yes agree on this point , those who are willing to learn Forex can make them really profitable.
Well making money daily is something that’s gonna take a bit of time. But yes, you can start learning from the School of Pipsology. Know all about the currency pairs, the technical indicators, and how to use the tools to trade better.
You can start trading here at the School of Pipsology. Just go to the Education section and explore.
Or you can even go to youtube and watch videos related to trading.
Learning is very important before you start anything. For some time, stick to demo trading or paper trading to get better and keep practicing until your trades are doing good in the market.
What’s better than the risk-free environment where you get an opportunity to trade with virtual money?!
Don’t forget that demo account misses the execution lags that the real accounts have. To name a few, re-quote and slippage aren’t even there in demo accounts. One needs to be mindful of that and then it’s fine to practice on demo accounts.
But then it isn’t about money making with demo or especially when you’re starting trading. It’s about developing strategies for trades and observing emotions while practicing.
My advice is to check the Education section right here on Babypips and learn everything there. This will give you an excellent foundation you can build on. That said, making money daily is not something that will happen for a long time to come, so you have to be prepared for that.
I’d still suggest you to go for opening micro accounts with a small amount for better clarity. Risking a small amount won’t hurt while you get to work on the live platform. For me it turned out to be great. I opened an account of $200 with turnkey forex and $500 with etrade. It gave me a good starting point to learn while I was learning the ropes.
I sincerely wish the TS a good luck on this, yet this is definitely not the right way to start learning trading. If I ddin’t know anything about markets at all (and sometimes I wish I didn’t!) I would have started with picking just ONE approach, ONE authority to learn from and begged this person to teach me in person.
When it comes to starting your career in forex trading, you better don’t go with the flow. You need to prepare yourself for the ups and downs in the market that can have a great impact on what profits you make. Try to learn as much as you can before you take any steps in the market.