Hey guys, this is my day one in learning forex trades… any advises you can offer me.
Keep trading on demo account along with keep reading in babypips school.
Start here with the baby pips school:
School of Pipsology
its the fastest way to learn
Baby pips school is king to the fast track!
Keep practicing on the demo account.It’s the best teacher for every trader.
In your openion, which is the best platform application provider to use
Hey Waelesam, Welcome to your new career…
What kind of time frame do you have to invest into Forex? Meaning, Hours per day…
Forget the demo, Throw $20 into Oanda, and get crackin properly from the door.
What do you expect to get out of Forex?
How much do you want to make, and what is the timeframe you want to reach the goal?
Are you going to treat this as a hobby, or are you seriously looking for a replacement to your current financial outcome/?
Amen!
My opinion (for newbs),
Best platform = MT4
Best provider = OANDA
Hey "money nvr sleeps"
1.actually i’ll have 2-3 hours per day
2. Thx for advise i’ll try it but is that 20 $ as the platform price or for having a real account.
3. Actually i’m expecting a lot from this… i wish forex will not disappoint me.
4. I need to reach a 15K $ of forex income within 4 months.
5- ofcourse not replacement this trades will be my second serious job which may make me to change my whole career.
Thx for replies and consideration.
Regards,
Wael
Oanada ?? For best price, ok…
BTW if you have M4T website i’ll be thankful i’ll try it too.
Thanks for your answer…
Follow the directions on the link for starting an account and go through the school on this site
Hey Bud, you can deposit $20 into Oanda, and thats your starting balance. That is using the FXTrade platform, but if you want o use the MT4 Oanda Platform, I suggest a $50 deposit, because when you get down to $20, you wont be able to trade, as it being to little to open a trade with the minim requirments, so keep that in mind…
Now, seeing you have alot of time, it depends on the real time, like 5PM, est or something like that… Need more of a real time frame your working with, as it does matter to a degree.
Your expectations are high, so your going to have to guts to risk a tad higher then " Most" traders… And learn to be right all the time…
Whats your target starting balance to start this journey?
Welcome to Babypips, head over directly to pipsology school and review the lessons…
Once you have studied the basics and know all there is, on trading, select a broker and open a DEMO account. Do not opt for a live account immediately…good luck
My advice…
If you are expecting a [B]lot[/B], then maybe this business is not for you. FX doesn’t care about anybody’s feelings.
If you are in [B]need[/B] for profits my advice is NOT to trade, FX is fierce and relentless.
To reach $15k in 4 months ($3750 monthly), you would need an account of $70.000, if you can bank 5% of your capital on a monthly basis or $35.000 if you can make 10%.
In either case you would be outperforming most Hedge Funds in the world
I do not want to discourage you, just to keep your goals real. Don’t push it to hard, let compounding do its magic. 
$15K in 4 months… how come much do you have…?
I would like to have a lunch at KFC except throwing it into forex.Starting forex with such a small amount is like burning it.
You are a new trader so you should join Babypips School. Here you will get all basic information about forex trading. Then move to “FOREXPEDIA”. It also may be helpful for you.
Oanda you can trade with 1 unit, it would take awhile to burn thru it… 1/8 ratio around, cant go wrong, to even have “real” money experience. Dammed if you do, dammed if you dont, i guess?
So, let him throw $5000 and lose it, then back to square 1? Non-sense…
He is learning, test drive a real car, on a backstreet, then hit the highway when you feel ready, but at least the car is real, and the traffic is real,
Whats crazy is, alot of traders say," dont start with less then $10,000" out of the box, but when you do have the proper skill, its best to trade 2% max, lol… So, blow it all learning, then baby steps when the bullets are live and you have confidence in your skill…
ugg
WHAT!!! Really?
Do you know [B]anything[/B] about lot sizes?
And do you know why MoneyNVRSleeps recommended Oanda?
Do your research.
OP, Focus on pips not money.
Deposit the [B]absolute minimum[/B] that’ll keep you focused.
[B]So, let him throw $5000 and lose it, then back to square 1? Non-sense.[/B].
He is learning, test drive a [B]real car[/B], on a backstreet, then hit the highway when you feel ready, but [B]at least the car is real, and the traffic is real[/B],
Whats crazy is, alot of traders say," dont start with less then $10,000" out of the box, but when you do have the proper skill, its best to trade 2% max, lol… So, blow it all learning, then baby steps when the bullets are live and you have confidence in your skill…
ugg
MoneyNVRSleeps, You the man! Such traders don’t know math probably.
Consider this advice : Don’t fly a Cesna 72. Use Microsoft flight simulator and then get a real Boeing.
Use your head! :44:
MoneyNVRSleeps is right. Trading Forex is very risk. Everybody need to develop a trading plan and system to suit them. Live trading involves lot of emotions. It spoil profitability and learning curves. Everybody learning from their mistakes after trading in a live account. Not in a Demo account. So all newbies needs such opportunity to trade live and mastering their trading system.
So that why Oanda’s web platform helps newbies.
(Lol… Some traders not learn enough even after blow up two or three small accounts. They need to loss big amount. Then they will learn from their mistake. And open an Oanda account with 20$ or 100$ to learn)
Thanxxxxxx all of you guys…
Ok this will be my plan,
1- studying in baby pips school step by step… i loved this site…
2- register with OANDA web site with 50 $
3- in baby pips school i’ll read the ecnomics analysis and rading news part.
4- subscribe with these news sources and learn how to analyse it.
5- and communicating with you people if i had any trobles…
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I’ll start my real trading with 2000 $ after two months of OANDA trading
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I liked the advise of let compound do its magic.
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the time frame i’ll be working on that… from 11:00 a.m to 12 p.m GMT and from 05:00 p.m to 06:00 p.m GMT
this my vision… what do you see??