Hello everyone, my name is Clifford. I have had great interest in forex and trading, for years. I have decided to give it my best and learn as much as I can about it. I am lucky to have found this site.
My question is, how to I study all these information and use it to begin trading on a live account?
Welcome. You may want to start going through pipsology and open a demo account to practice.
Beware, there is no short cut to success. Take it easy, one step at a time,.See if FX trading suits you and your lifestyle. I suggest you practice and experiment on a demo account until you feel good enough to go live.
Welcome.
First, as suggested by kyrkar, I think you should look at completing the BabyPips School of Pipsology as this will give you all the basics you need to start trading. Once this has been completed and you have your basics you’ll be ready to start your real education. Which will come from practicing on a demo accounts, reading a lot of books, reading a lot of online articles, watching a lot of YouTube videos, doing more courses and following a mentor if you can find one. Education and consistency equals success.
Remember, trading is regarded as the most difficult job in finance. It’s not easy, hence why very few become successful. The only way to success is to keep learning and continue learning throughout your whole trading career. Keep practicing what you’ve learnt until you become profitable and then learn some more. Some traders take years before everything clicks and they can make a profit.
Also, losing is a part of winning. So when trades doesn’t go your way, don’t get upset or annoyed, just sit back and analyse those trades and workout what went wrong. All winners were once losers.
Good luck in your journey.
In order to effectively use the information for live trading, start by by Pipsology and try to understanding key concepts, practice on a demo account to implement strategies, and gradually shift to a live account with proper risk management while continuously learning and adapting based on your experiences.
I believe you should first make a demo account and try to open positions based on what you learnt. keep notes about what was the reason u entered the trade, how u determine ur TP/SL and then after a while (usually a long while) you can categories the information and find the best strategy for you to start trading real money.
I think you have chosen a good place for training. While you have a demo account, try to apply the training tips and find your strengths and weaknesses.
To be honest, you are right, I have opened an account in a broker, and IDK if its because of me learning more or is it because of this broker, but anyways, since im working with them my winning ratio has increased from almost 50%, to almost 70% with the same strategy that i used in the previous broker that i was working with, I am giving the broker more time and if that is as good as I believe i will shortly introduces it to the users here. but not now, i will have to make sure they will maintain the same.
I really appreciate this perspective because I think it’s important. Being part of supportive communities, finding reliable brokers, and exchanging successful strategies can be incredibly helpful. Many traders come here with the aim of connecting for these reasons. It’s about creating a positive environment where everyone can learn and grow together.
There are a lot of them who come here for getting other peoples trust and then abuse it. you might not believe it, I sometimes get very insulting messages only because I said a true fact about trading, like for example, once someone said the price is always manipulated by certain people, i said not in the forex, in crypto, possibly, I got very terrible messages from a user who was trying to abuse this message to promote something that he was probably paid for!
Have you passed babypips pip school? I would advice to start from this course to learn basics.
I’m sorry to hear that you’ve encountered negative experiences and abusive behavior from some individuals while discussing trading topics. I think it is important to stay calm, focus on positive interactions and keep your distance when engaging in online discussions.
And I think it is really helpful and I have started from here , it was a great experience.
Thanks mare, I appreciate your kind sympathy, yet there is nothing to be sorry about. through history, there has always been such people in every community.
For me personally, I learn to trade from several sources, such as:
Baby Pips School of Pipsology
Youtube Channels
Blogs such as How to Trade and Prime Codex.
After that, you can start practicing in a demo account
Starting with all this information might seem overwhelming to newbies. Remember to take it one step at a time. Begin with the basics, like the School of Pipsology here to build your foundation. From there, try demo trading to put theory into practice without risking real money. As you become more confident, you can transition to a live account.
From time to time I train people in trading and there is only one rule you need to say to yourself every time you make a decision trading and investing.
There is rarely more, but there is always less
If you become profitable you will understand, very few make it that far because their entire ethos of life is to always want more.
There is one specific trading approach which anyone can learn making most profitable from the start, however every single person says it does not work simply because it is “anti-more”.
You can initially watch Youtube videos to learn forex and earn from it. Besides watching videos, you can trade on demo account.