Need A Little Help

Beginner Questions
1

Hello
Hi
This post is kinda long sorry I have many questions
Let me start by saying I’m a 23-year-old female. I was introduced to forex by someone that went to Highschool with me. He also presented this site to me, and I started forex school. I never opened an account to trade I was researching. The guy I went to school with wanted me to open a hugos way live account with about 100-200 dollars in it and he would send me signals and split the money with him 60-40 in my favor. He gave me the run down when we first talked about people trying to scam and get your money you know the rest; you need to trust the person teaching you before giving any money. So I never did anything his offer sounded good but what the catch. That was about 6-8 months ago, fast forward to about a month ago. I saw that my best friend since forever dad trades he is retired from the army. This is someone that I trust my mom is my best friend moms childhood best friend, so I had been speaking with him he is apart of IML (IMarkets Live) if anyone has heard, please leave reviews, he let me know that it cost 219 to sign up. I was deciding if I want to pay I had to wait on my school many anyway while waiting he offered to pay for me to sign up so now that I’m apart of IML we get signals from a group and what not. They’re doing this thing called March of band where their teaching their new traders 10-12 per advance trader $100 to 1,000 + in March. I think we will make more than that because yesterday on the go he took his account in 1 day from 200 to1200. My question is one who uses hugosway how it is? Do you use any of there forex indicators? Any free ones I can try? Two is there another broker that I should work with low deposit start up and easy withdrawal im located in the USA? Should I purchase these signals from my high school friend for 75 dollars a month with profitable returns? Do you guys recommend any signals IML has harmonic scanner 80% true free n 40/40 signal telegram chat both free with your monthly membership and they have swipe coins for 99 a month extra? Any iPhone apps that I should download? Learning websites blog ect. ? I want to find a trader around my age to follow their blog. I have been looking for one. I know this is a lot thanks in advance for feedback.

PS: WHATS A GREAT WAY TO LEARN ALL ABOUT CHARTS? HOW MANY PAIRS SHOULD I FOUCS ON AND WHICH ONES ?

2

Honestly, the post is too long and you would give up reading even before you start reading it. I suggest you break it down in section and not ask it all at once.

3

The First thing I said was the post was long. I am thankful for those who choose to take time out their day to respond.

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4

When you say learn to read charts, that is synonymous with learning to read price action. That encompasses a giant amount of learning with a finite list of subjects.

Price action can only go up, down or sideways.
Candles or bars or line charts are like road signs and with some degree of accuracy, a pattern will forecast where price action is going.
Time frames are independent slices of time and each has its own cycle.

May I suggest using a bare naked chat (no indicators) and just trading until you understand the price action.

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5

Don’t pay for trade signals.

2 Likes
6

Why not, if they work out then I see no problem with it. Am sure there is a reason why he wants to pay for them, even though there are other easier ways to get them though.

7

Its worth paying for things you’re not good at or don’t have time to do or to learn to do right now - but only if they work! I’m not hearing of any signals services that work reliably.

8

Wouldn’t it be better if you make out the time to learn these things, I mean how long will you continue to pay for such services.

9

200 to 1200 in one day, definitely no risk management involved. Go through the school of pipsology first, you’ll have better questions afterwards.

1 Like
10

$75 per month for signals or other tools trading a $200 account…:face_with_raised_eyebrow:

You would need to make about 40% of your account per month just to break even.

The probability of covering such costs and turning a profit is practically none.

Trying to succeed with conditions like these involves taking huge relative risk and it is not sustainable.

It will end in tears…

Starting with $200: first I would recommend that you take the time to learn how to trade for yourself. Then spend some time practicing on a demo account. Then, when you are ready, deposit your $200 to start trading. Consider this $200 as an investment in your education.

It will be money and time better spent towards gaining real trading experience.