hi guys i heard that levelling technique is more profitable in trading but i dont know what exactly it means. So if any of u know about it would u mind to explain it plz.
and
i am completely new to forex and looking to get into it.
I know its not going to be easy but i would really appreciate a little guidance im how to start out.
I have a few questions such as:
How do i start?
What do i need?
What steps do i need to take in order to start up?
I don’t know much about forex.
Im sure there is loads of information that will be shared on this site
Or, you know, do the babypips courses that this website is based around?
FYI, coming onto any forex forum and asking some variation of ‘how do i start’ is a massive red flag for crashing and burning.
Self motivation is the number one requirement of a successful trader, because everyone else wants to take your money. There are abundant free educational sources out there, and a failure to find any of them on your own is essentially stamping ‘victim’ on your forehead.
No analsis methode is more profitable than the others. The best way is to compine them all in a strong trading system. Moreover you can just use fundamental analysis and make mony.
How to Start? what you need and what steps?
Don’t trade in real market. you need at lease one year of practice after you have lerned to be qualified to trade in the market. Open a Demo account. lose it and open another. To start learning. Complete the babypips school. second step, Read a trusted sceintific book about analysis (technical and fundamental). If you want to invest in some courses, do it. But make sure that they have a real trainig program and a goal, which through you will reach a level that you won’t reach just by self learning (you would hardly find one). I hope I was be able to give you the headlines and showed you the road which you are deciding to take.
Last, I have been trading since 2012. Many people have asked me that same question. I always answered the same answer. And what happened? They have started trading just few weeks later. They have lost much money. If you would take my advice seriously, you will take a hard way, but it will get it’s benifits later. Forex Trading is not as easy as the brokers show, not easy as it looks like. It’s a high risk market, in which a mistake costs thousends of dollers
Babypips Course and Demo Trading
Browse the forums
Read, read, read, research, and do a little bit more.
I would recommend you book out some time and go through this sub-forum (Beginner Questions) and read posts.
Oh, and if you think about live trading before you’re consistently profitable in demo trading (3+ months), let me know - I could direct you to websites of some charities you could donate to before you end up throwing your money away on believing you could profit from live trading on beginner knowledge.
You are DROWNING in information while seeking for wisdom. Find the information on these forums, books, the Babypips course, and learning from experience through DEMO TRADING.
And I’ll say this before everyone else - you won’t get rich quickly, but you may get poor quickly. Don’t live trade until you have a consistently profitable trading system in place.
I’ll say it again. Don’t live trade until you have a consistently profitable trading system in place.
The best place to start is with the School of Pipsology. Finish the school and take the quizzes. From there you’ll know if forex trading is really for you. Good luck mate!
Oh, by the way, don’t be discourage by other people. Just do what you love to do. Failure is okay as long as you know how to accept and move forward. Learn from the mistakes and don’t dwell on it. Happy trading!
Just to offer another opinion,
i also believe he was taking it seriously
and therefore believes he should just jump straight into Live trading.
i guess we’ll find out when and if he loses his money
If you want to stay here for a long time then concentrate on your learning process! In this case, School of Pipsology is the best course for the new traders! So, use it to learn Forex trading with the details.
Yes, BabyPips School is a good one! Besides, day by day traders need to undated their trading skill from basic to advance level by learning and practicing more and more.
It’s great what you are writing. I just want to add to you, that a plan is in need. Plan saves you time, makes it more efficient and it’s the main source of discipline. WIthout a plan, you won’t be able to know where you are and what’s the next step. You won’t be able to come over the hard times and will finally give up. At the end, combine that all in a plan with time, steps, missions and goals
Good luck
Besides the great advice offered previously, I would like you to get the first book by Al Brooks “Trading Price Action Trends.” Once you know the basics of candlesticks and their patterns, you can delve into this book, and gain the knowledge you need to start trading in the direction of the current trend.[quote=“quanghieuci, post:1, topic:124694”]
What do i need?
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You need from about $50-$500 in order to start learning to trade. Please do not use any more of your hard-earned money than that, even if you have $500,000 to start with. There is a 95% probability you will lose at least half of it learning to trade. That’s okay. Thank of it as tuition (very cheap tuition) for enrolling in the “Trader’s University.”[quote=“quanghieuci, post:1, topic:124694”]
What steps do i need to take in order to start up?
[/quote]
It would be advisable to trade with a demo account for a few months starting out. This way, you can find out if you enjoy trading. There are other business you can start online that are just as easy to get into and don’t involve constant losses. Hope this helps
1.Go through Pips school
2. participate live webinar
3.continue in video tutorial from YouTube
4. Forex.com is also good
and practice in demo or micro.
From any other option learning in practice account most beneficiaries. Always try to learn from your past mistake, try to learn how to trade with fundamentally and technically. And emphasis on a fixed trading techniques and never trader without money management. Good luck.
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