Been lurking around the forum for a couple of weeks and thought it was about time I said hello and thanks for all the excellent material on the site.
I’m new to trading forex, although I’ve had an interest in it for a few years, time and life in general hasn’t allowed me to follow it up until now.
I want to learn as much as possible before I start trading, which I know will probably be months away (I’m not in any rush, and don’t see this as a get rich quick scheme!).
I’m making my way through the excellent School of Pipsology, (I intend to do this at least 2-3 times) and have started watching the superb ICT video’s. (Is this a good idea to watch these right now or will they be too advanced for me at this stage?)
I have downlaoded MT4 to practice using charts but haven’t actually placed any trades yet. Even on a demo account I will be treating it as real money so I want a solid plan before I start.
Regarding Demo accounts, are there any that allow you to choose your own starting balance as I won’t be depositing 20k+ if/when I feel ready to start trading for real!
I’m sure I’ll have lots of questions along the way so thanks in advance!
Welcome on board, the “School of Pipsology” will teach about Forex and indicators, but it wont teach you to trade, the ICT thread is good as well as the other longstanding enduring threads, as I keep saying all the enduring threads are, they are such for a reason.
Most demo accounts will let you trade with a few hundred dollars, Oanda is my preference for trading, it is a common practice to trade off their web platform and use MT4 for charting.
Hi thanks for your reply.
What do you think my next move should be after the school of pipsology? I will be treating this seriously and get a solid education before I actually start trading.
It depends on what your aims are, how much time you want to spend trading, how much profit do you expect to make, how do you think it will take you to learn to trade?
Well, my aim is to try and build a bit of a next egg over the next 20 years ready for retirement! I don’t want trading to take over my life, I have a job that I like and pays ok, so maybe spend 2 hours a day or so trading. Profit wise I want to be realistic. I would be happy with a 2% net increase per month. As for how long it will take to learn, I’ll probably never stop learning!
I never jump into anything without doing thorough research, and I guess what I’m looking for here is some kind of curriculum to follow before I actually start trading.
Ok, good, nothing better than getting your expectations down, I can’t really help you much, my approach is probably not suitable for you on the whole, but hopefully others can jump in and help you further.
Ok no worries. Thanks very much for your input. 