I would mainly suggest just focusing on learning for now, take all the time you need until you feel confident. Trade on demo when you get ready for a while. Learning to trade is more of a long-term thing, so if you don’t rush it, you’ll be more prepared once the time comes to open a live account.
There will be a lot of recommendations to use a demo account. personally I would go straight into a live account with a small balance. Trading with real money is so different to a demo where nothing really matters. You need skin in the game to manage your emotions and see how you respond to winning and losing trades.
Good luck and let us know how you get on
Prioritise learning over making money first. Take a demo account and practise your strategies. To start, you can watch free lessons on youtube. There are many free strategies as well. You can start by implementing them. Good luck!
Day trading refers to buying and dealing securities in short ages of time, rather than holding onto them for times at a time. You buy an asset when the price goes down, also vend it off when the price goes back over.
Day trading takes skill if you want to make rather than lose plutocrat. There is a lot to learn when you are a day trading freshman. Not only will you need to decide what to trade and how important capital you will need, but you will have to get the proper outfit and software, determine when to trade, and of course, how to manage your threat.
Hello and welcome! I know that you would be thinking quite a lot about your career and becoming successful. Just don’t rush your trades because it will take time for you to develop an understanding of the market and get on track with your career.
Open a new demo account and try to learn from your demo trading; you need to build a profitable trading strategy!
Set up a demo account, trade until you are consistent for a number of months.
Congratulations! Now its time to focus on your demo practice! But, don’t try to learn everything within very short period of time!
After you have learn some basics.
Get a demo account.
Make your own strategy. (Example trading with a particular indicator and price patterns or whatever you think of). Choose risk that is suitable to you.
Stick to your trading plan and execute 100 trades or more to see if your strategy works. At this stage you will also learn the emotions involved, find ways to dealing with that. Because trading should be stress free.
Revise your strategy and test a sample of 100 trades.
Keep doing process 4 until you make 20 to 40 percent a month.
6 . Get a real account…
Now you are a Pro trader😎
Keep learning slowly and steadily, do not be in a hurry. The best results come when you do things at your own pace. Take knowledge from everywhere, don’t be dependent on only courses. You can read books and visit youtube for extended knowledge. Learn all the fundamentals & technicals. Know how to read charts; they’re really important. Most importantly, have control of your emotions because forex is psychologically challenging.
I know that for many newbies, trading seems to be an easy profession. But honestly, it won’t work if you don’t have the required knowledge. It takes time for someone to develop a market instinct. So, you better practice on a demo account and obtain some experience before you make your moves.
You’re on the right track with babypips. When starting out in the trading world, it is absolutely necessary to lay a strong foundation consisting of knowledge and experience in the area of forex trading.
It’s a good choice to become a forex trader but it won’t happen overnight. You will have to work hard until you get an understanding of the market and can actually make money. So, be ready for the hard work before you can think of anything else.
… this is a good piece of advice I second for you to stick to as a newbie. You won’t learn a wide Forex too soon, major in studying to understand the market and practice on the way, it’s a journey and not a high school to graduate
Buy a forex trading course or bot or find a profitable mentor. Truth is, Forex isn’t so hard to teach if the person actually wants to teach you their strategy and rules. But most people spent years and sacrifices building said profitable strategy. You probably wouldn’t give it out for free either if you did that.
Learn on the course and study the charts on Trading View. Free version is more than good enough. Don’t sleep on the value of a demo account.
Study, understand and practice on demo. Create, develop and retest your trading strategy. Acquire the right trading psychology.
Practice on demo account and constant learning is very important to sustain in forex. As the market is very volatile one needs to be very particular and effective while choosing the trading strategies.
Hey! I am willson_Fx, and I recommend new traders to practice trading on the demo account and study the market daily as much as they can.
find a mentor its the shortest path
i took the long route and it has impacted my health although i did eventually make it, at the very last minute of a decade