Hi, i am Igoni. I love trading forex because of the possibilities of making money i saw. But i dont know how to do it right. I have being practising for sometime now but am not getting a reasonable result. Please i need to be thought. Thank you.
Try this strategy by @KenobiSon.
Or this discretionary method.
Make sure to practice on a demo account before you try any of these in a live funded account.
It’s a bit hard to answer this in one reply Since there are so many things that could go wrong in trading. But when I look back at when I started trading for about 13 years ago, my main issue was trading psychology and risk management. To not start guessing your issues I have an article for you about what I think the best way to start learning Forex, it may help you since you may be missed an important aspect on the way. You will also notice that the article will send you back to babypips to start here anyway, but I explain more in-depth what steps to be taken and in what order.
First of all, go through the Babypips School right here on Babypips and learn its lessons well.
Second, forex in general is not easy. Earning a profit is not easy, no matter how much you know and how much experience you have. It’s good to keep that in mind if you want to trade.
appreciate , as a best part of basic knowledge we the beginners go through the baby pips school including demo account.
Well, than you really need to take all like that into account anyway for whatever reason it may get for example and that’s really it. You probably lack of knowledge or experience for now and that’s it. I do hope it will fix itself for whatever reasons it may be. Thanks!
try to be experienced from baby pips school , and besides this you can take micro account which is very supportive to acquire live knowledge and experience…
why Micro account ? this approach can make beginner greedy and emotional. always prefer demo as a basic course.
can not say how to correct? Only know how to trade with small volume and find a new direction
traders when trading in demo not serious at all , for that reason sometimes really needed in live.
Letting you know of the reality, forex is not at all easy. To trade here, one needs good amount of knowledge and clarity about this market, along with a good hold on managing the risks that he/she can face while trading. So you must have to be thorough on the learning part, keep exploring the market so that you can create what seems profit making strategies and excel well here.
Forex trading is completely determined by your understanding of the market and information about forex. Forex trading is a complex phenomenon which needs thorough understanding of trading strategies. To completely understand forex trading,an individual has to gain knowledge about trading psychology and risk management. It needs experience and understanding of the forex know-how to successfully trade in the forex market.
No easy answers, but there is no rush and you must take your time and invest the effort in truly learning and mastering the basics and a consistent strategy. There is no short cut i am afraid.
Join a service like AustinSilverfx, there you will learn how to make profitable trades and the basis for making the trade… Follow him on YouTube he has many valuable videos posted for your viewing
You can definitely start from Babypips School to get the idea of what Forex is. Demo accounts can be a good testing environment before going live, as you do not risk real money there. Once ready to go live, find the broker with welcome promotions, but please read carefully the terms of the promotions, not to get confused when it is time to withdraw.
when you trade for a long enough period of time. At that time, the answer for yourself will be more ok
Hi, I heard about trading for a long time and even was suggested to try it and i have looked up at various trading sites but haven’t joined in any, cause my knowledge in trading isn’t that good and to know about trading was advised to try babypips, so im here now and ready to clear the doubts and start to trade.
Learn a strategy and stick to it. Back test often and develop either good risk/reward, or a high win rate.
trading Forex easily is not possible until ensuing good money management including a powerful trading strategy. so bring most accurate trading approach and be expert about money and risk management.
what you think mate ? there is any major difference between money and risk management ? its all about same issue or anything ?
The beginner's guide to FX trading