Hello Everyone,
My name is James and I am new to FOREX. I first heard about FOREX and Babypips back in 2006 while deployed in Iraq. I actually paid for the school of Pipsology back then but immediately got intimidated when I read & heard some stories on the internet about how easy you can lose your money in FOREX. Well now I am looking to learn about FOREX again.
Although I am a newbie I am drawn to it. So I want to learn all I can and practice all I can before I get started in to this trading/investing opportunity. I am looking to draw as much advice, wisdom, education, training, suggestions that you all have to offer. Thank you for your time and talk with you all soon!
The School of Pipsology wasn’t for free back then? Good thing it doesn’t come at a cost now! Nice to know you’re giving forex another chance. Best of luck in your learning experience!
Welcome Mr. Prince,
This website is full of good information. I refer School of Pipsology to everyone that I know
Candlesticks , Trendlines and Fibonacci can get you started really well. I suggest you practice a lot on these things and then go for other advanced indicators / techniques and tools.
For learning purpose, try to follow charts in 1 and 4 Hr chart pattern. A short time interval such as 5 min or 15 mins will get you confused with swings.
Try you follow 2 to 3 pairs at the max initially and too much information will disturb your pace of learning.
I would suggest:
EUR/USD
USD/JPY
EUR/ JPY
These pairs are co-related and each pair crosses twice creating a perfect triangle learning pattern.
Hope this info is useful to you.