New to Forex trading

Hello,

I’m new to forex trading.
I’m interested in trading the EUR/USD and the GBP/USD.
I’ll highly appreciate any tips and advice.

Thanks!

Steve

Do you have an idea how you want to trade?

Eur/usd has a reversal structure at a area that hasn’t been hit in awhile. I just need more confirmation that it’s reversing to go short(bearish).

As for gbp/usd, that pairing is in a strong up trend.

have you look in the top right corner of the page and searched NEW TO TRADING
and had a read through literally the hundreds of newbies that already have had this question answered
and have had a plethora of advice given to them thus far

have you read that first ?
Have you gone through babypips education
have you figured out which instrument you want to trade
have you figured out what strategy you want to use

Thanks Martin for the advice and info. Like I stated, I’m new and don’t really know a whole lot about online trading. I’ll read through other newbies questions to keep me more informed and ready about the process.

No problem mate
all that we ask of Newbies BEFORE GIVING HELP is that Effort is put in, because we have put our time in.

and as you will learn when you get a bit of experience,
countless newbies always come here every day and ask the same thing all the time without bothering to do a little research

if you like search my name in the search bar and follow my posts
i’ve addressed most of the question’s you’ll probably ask

but before you ask , search your question
if you don’t understand something… ask, by all means

1 Like

My friend that are old in forex business are a big support for me. I go to help if fins some thing that conflicts in trading. New traders need many types of help they has to improve their knowledge by reading latest about forex they have to know new ways of trading as market is changed. As much he can he should learn from different ways .

Thanks Imbest. I have no friends in forest trading. Maybe with a little hard work and luck, I may be able to make friends or meet a mentor someday.
Thanks again for the feedback!

Good question ask by Zeverette. As a newbie before starting the trade you should have planning rather than the trading pairs. BabyPips is very good for learning especially for new trader. Even I always go through the NEW TO TRADING option of this site and go through all the threads. It helps me to learn many things. If you go through that option you will get many concept and ideas for moving forward.

1 Like

Good answer. I’m going to school here first.

Good man,
Be Patient, Learn well
Test everything on demo
and dont’ be in a hurry to go Live

when you can prove that you can generate consistant income for a min of 6months, you can consider live.
simple as that.

Hi RookieSteve! :slight_smile:

Much like what the others have mentioned, reading through BP’s School of Pipsology will greatly help you gain knowledge about this pair! :slight_smile:

Welcome here btw! BP is filled with really really nice people so I hope you feel welcome.

Thanks Martin. I am interested in the whole thing as I have seen so many people with their laptops in coffee shops in Thailand where I travel to, doing the same thing. I’ve been to one of these one day seminar things local to me, they offer step by step training, a walk you through it kinda thing. At a clost of £1997 (+ VAT)! One guy in Thailand a few years back told me about Babypips. He said I looked intelligent and should look into it, so Here I am and still in credit £1997.

Nice 2 see, you are not moving with so many trading pairs! For making consistent money here, you have to build first a good trading strategy; so go for demo for your trading strategy! By the way, did you complete BabyPips School? It’s very much useful for the new traders!

I have gone through some of the old forum and it seems like having patience and a good strategy is key to success.
I have a live account; but I am still practicing with the demo account until I get more comfortable to start trading.
Thanks everyone for the advice and feedback.

1 Like

Well; why you picked up these 2 instruments? Any particular reason
behind it? In addition, I think now you are preparing for demo practice with
these 2 pairs, isn’t?

This is great! I plan to do the same thing. :slight_smile: How long have you been on your demo account?

Just a few days. Less than a week

1 Like

Because I can probably give a better economic analysis of Europe, Bristain, and US. Plus I live in the US

I see! :slight_smile: Where did you set up your account?

My demo account is with IG. And tbh, I would love to start with a much much simpler platform. :frowning: :cry:

oanda MT4 platforms are pretty simple.

2 Likes