Interested in trading

Hello I am new to investing and economics and have been looking
for ways to invest the money that I have acquired. I have been reading
as much as I can about FOREX trading and other forms of investment and
and think that its time that I stop reading and learn from experience whether
that be with a demo account or a live account with a small amount of money.
The problem is that even after opening a demo account (Oanda) and looking around
I’m still clueless as to what I am doing. I am better at learning from hands on experience
and if possible would like to know the best way to learn hands on in a simple way the
ins and outs of trading.

Glad to hear you’re ready to put your skills to the test with a demo account! I do hope you stay open to learning and trying out new strategies that could help you gain profits. How about starting with technical indicators and setting some rules for buying or selling (ex: stochastic reaching overbought/oversold region) then tweaking your parameters from there?

Welcome to WindTrader
If you work your way through the School here you will gradually evolve a methodogy that “feels right” to you regarding such things as time frames, technical price action analysis, which Fundamentals to watch and why, and a whole bunch of stuff about what the rest of the trading community does.

The thing is that live trading is different than demo trading. And even if your demo account looks great and profitable, it will not guarantee you that live account will look the same.
As you write that you still not really have much clue of what you actually doing, I would strongly advise you to go to a School (up here) and learn well.
Then start right from a live account, skip demo. It’s useless.

Interest is good, knowledge is better:)
It’s like in medicine: how can you be a good doctor if you have just an interest in human treatment, but didn’t get a medical education?
So, go to School, pal.

Well written and +1 on that!

My advice to you is to go through the school of pipsology (here at babypips) find a strategy and trade it on a cent account - you immediately deal with the psychological factor of “real” money.

A demo account is sensible. You might want to backtest various strategies as well. I’ve probably spent thousands of hours (literally) looking at historical charts and learning things for myself. Come up with an idea and test it against historical data,

Unless the loss actually hurts you, it won’t feel like real money. Today I made 30 cents and tomorrow I lose 50 - big deal. How is this real ? Do you know how much you have in your wallet, down to the last cent ? And if you dropped 20 cents, do you actually feel a loss ?

I don’t agree. Cents or not, it is real, it is my money, coming from my pocket/wallet, not some random demo money - maybe that’s just me. To me this is better for testing my strategy, and once it is solid, moving onto a standard account. I agree to some extent that the loss is felt more severe with $ than c, but still, the principal…

You have a long way in front of you. Do not risk your money before you educate your self, and for that you will need at leas two-three years.