Hello ladies and gents, im a completely newbie when it comes to Forex and trading. I’ve been reading the guides on the page little by little but there’s so much info that im getting twitches on my eyes Any advice or suggestions you guys could make would be greatlyt appreciated, tips… I would like to start the trading but dont know how or where, what companies or platforms to use. How much money can one use to start trading? Im a college student so i really dont have lots of money to begin, is $100 or 2 acceptable. Im not planning to get rich off of this system but just to make a few bucks and educate myself. Thanks alot for your support.
Have you tried growing $100 in a demo account first? That should help answer your question.
I’d suggest going through the babypips school FIRST before you consider going into even demo trading. Take your time and pace yourself; overwhelming yourself will only lead you to boredom.
Once you’ve read through the school start demo trading to understand how things work.
The forums here have a wealth of information on brokers, trading systems, and tips. All of it will look like mumbo jumbo but after reading through the pipschool, I can safely assume you’ll understand a LOT more.
BabyPips School
And read and read and read. Stay on the sidelines and just watching price actions. Play with indicators and get to know a particular currency. Get good at predicting future price action. Learn how the news affects the price. Following the thinking of the bloggers when they post their trade ideas.
I think what made it big for me, it proper lot sizes and good money management. At some point you will get into a groove…that’s when the journey begins. Right now you’re just packing.
Good Luck.
Learn learn learn!
I can understand your frustration yomny, I’m too a beginner but this is what I’ve did:
- read everything in the BabyPips School
- read some threads in here so I got a general idea what software to get and what broker seems to be working best for people (Alpari UK seems to be the best).
- started trading on some micro accounts, invested $200 in 2 accounts - so $400 spent so far
- started making some profit, bought MegaDroid and learned how to use it … and now I’m constantly making a small but constant income whilst educating myself.
Best Regards,
Matt Jones .