Need help getting started

hello, i’m new here and i need help getting started with forex, such as where to start? how to start? i want to get involved and learn how to do trading, i don’t know if this is silly asking and not knowing how everything works but if someone can help me because i don’t know anything but i do want to make money.

The babypips school is a good place to start

okay, so what is the actual site to start trading and start with a demo account?

There are many platforms that offer demo accounts. one of the most popular is meta trader. FXDD have a good demo to
Google meta trader and take your pick

You need to do a bit of the reading before you just jump in.

There are ‘brokers’ that you trade with. They have either web based platforms or are programs you can download which connect to their servers.

All these things are explained in the babypips school (click the school tab up top) and you’ll find loads of information.

If you want the quick easy answer, look at Oanda as a good broker to get started with. Many users don’t like their charting however spreads are the key benefit. If you feel you need more (you’ll notice many forum users are members with GFT) they have a great web based platform with more features. Metatrader 4 is a program that a broker may offer which is preferred by many traders also. I use Interbank FX which offers the Metatrader 4 platform. All these three I have mentioned are only a FEW of the MANY brokers out there. Every broker (that I know about) offers a demo account.

Good luck; do youself a favour though and at least do a bit of the reading.

so i would have to learn info in the school and go to one of the metatrader websites to do a demo account? and will that be the website to do the actual trading or is there another? sorry for asking maybe stupid questions but i want to learn the basics and eventually get started

the school is the place to start . you need to learn first. Forex is not something to trade without knowledge or you will loseIt can take many months or years to learn and even then only a very small number of traders make money

okay i will start with the school. How long have you been doing trading? was it difficult for you at the beginning?

Doing the learning will:

  1. Teach you what you’re getting into
  2. How and where you can place your trades
  3. What to look for in a broker depending on your style

Those three things are essential in getting started and that’s not even touching the aspects of learning HOW price action and ‘technical analysis’ work. Again, those terms you’ll read about the babypips school

It’s highly recommended. If you just open an account and start, I garuntee within a month you’ll either have a blown account (demo or real) OR will give up.

To answer your question, these sites/brokers have options to set up demo AND real accounts. More information on each though is on their websites.

I began with a lot of reading. Almost a month if not more and I still read a lot on these forums and books on different subjects related to trading. The market always changes and sometimes you need to adapt.

I have only just started demo trading for about a month now and am getting the feel of things. My goal is to begin Live trading (real money) by the beginning of next year but that depends on whether I feel I will be profitable or need more time for practice.

Forex isn’t a get rich quick scheme, it takes time and patience.

I have been a full time trader for three years. It is not hard to do as long as you apply your self to learning. The most important things are Discipline, Money management and trading Psychology


Once more I’d like to post my favourite tips, the name of which is:

[B]What is your first step in Forex Trading[/B]? Here is some tips that can guides you if you’re really serious in this field:

Tip 1-The value of basic Forex education
Tip 2-Attend trading courses
Tip 3-Create your own profitable Forex Trading system
Tip 4-Apply Forex Trading strategies
Tip 5-Trade Forex in its best hours
Tip 6-Use Forex Trading Software A Must
Tip 7-Stay safe - use common sense!

If you guys have another tip or strategies please share with us here.


I agree with about 6 of those tips :stuck_out_tongue:

Number two is not necessary. There are many places where you can learn to trade (e.g. This wonderful site and other forex forums) and learn over time to be independent. Attending a trading course may cost quite a bit of money and sometimes, the information you receive is marginal at best.

There are even free online chatroom which provide quite good insight into the minds of the trader.

IMHO if the course is free then why not, but if paid (no offense to the teacher, I’m sure he/she has a winning strategy :p) but I can acquire similar information elsewhere for free.

thanks everyone for the great info, i will be at hard studying the school to get a better understanding.

thanks for these tips. :slight_smile:

You are welcome :slight_smile: