I’m Kori! New here 💪🏾

Hey there! New to this world. Currently clearing up all of my debt and setting myself up to be completely financially free in the future. Any tips for a newbie?

Press the green Education button above and learn how not to lose money.


Already on it! Halfway through the lessons.

Excellent. Keep up the pace. Construct a trading plan, via Candice FX on YouTube.You can trade and experiment on a regulated broker’s demo account. Get to know and like the platform, develop a strategy that will be your edge, and plunge into the depths.

When you feel confident to try a live account - which is a whole new psychological ballgame - keep it small and gradually move up to where you feel confident in your selected process and in control of your emotions. Experience is key, as is money management, risk control, patience and discipline.

IMO, you would find it very difficult to manage a small live account, say $200, and the FX marketing odds are you’ll blow it. That is a positive, though, because reality seeps in instead of listening to social media marketing hype. Try TraderNick on YouTube instead - he’s genuine.

IMO, the minimum live account size should be at least $500 to give you air and breathing space to run your trades. Keep a 100-200:1 margin and discipline yourself to no more than $25 (5%) risk exposure a day, trading lot sizes of 0.02 - 0.06. And keep a log of all your trades where you can analyse your mistakes… Do more of what worked and less of what didn’t…

That’s a basic framework which would normally take up to a year to be able to trade properly and proficiently. Remember there’s no guarantee you’ll succeed, so persevere until you get it…

Best of luck.

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welcome to babypips forum , i hope you will enjoy this friendly environment with great level of learning.

education is important there is no way to ignore but in spite of having much education the result of trading can be useless if there is no regular level of practice.

Hello and welcome to the forex world.