Hi im new to this and should of did it sooner, I lost my job and was desperate to make money so I’ve put my last 250 into this hoping to at least make enough to survive I’ve been told by my broker that early morning would be the best time to trade what do you guys/girls think he’s told me GBP/USD would be the best trade to start on
That is the wrong attitude. This is not a get rich quick scheme.
You need to study hard and for a long time, lose money, learn and re learn etc.
10 Likes
I’m not expecting to get rich quick and I’ve had my account for nearly two months and haven’t traded yet, I’m learning first, before making assumptions on my attitude maybe a hi and welcome might have been a better way to go but thanks for your views
It’s just the way you wrote your post, it might give people the wrong interpretation,that’s all. But, since you know that this is definitely not a get-rich-quick scheme, then take this time to put in hours every single day to study the charts and everything else you will need to know. You will learn a ton by spending time in front of the charts since that is where you will doing your analysis on the different pairs,so do that and learn proper risk management skills
2 Likes
Hi and Welcome!
2 Likes
Thank you, I have lots of information to learn and am reading n watching, I have lots of time on my hands lol my broker has advised me not to trade intill I’m sure I know what I’m doing so I’m deffo listening lol
2 Likes
Thank you, I’m looking forward to this adventure lol
Aww. 
I’m so sorry you had to go through that. I know you’re probably not in a very good place right now, but I hope that you power through these hardships. 
It also takes a long time to learn and really become profitable in forex. So I just hope that you don’t have crazy expectations. 
BUT! I’ll always be cheering for you! 
2 Likes
Not to discourage you but you wont be able to make a living outta of trading with 250 and it’s a wipe out.
You might wanna try flipping 2nd-hand items online instead. It made me at least 2.5k per month doing it.
All you need is a camera phone.
-
Purchase almost perfect condition goods at least 70% off the retail price. It’s to save the hassle of having to clean up the item.
-
Clean it up if necessary to ensure it’s ready for a nice photo shoot.
-
Re-post and describe it as almost new conditions at 10% off the retail price. Drop the price by 5% every 1 or 2 weeks until 50% off the retail price.
-
Just wait for buyers.
Not to be rude but consumers are native, which is why companies make money selling their 1 dollar manufactured costed goods at extreme high retail price.
Hope this help. =D
1 Like
Who is your broker and how did you choose them?
Brokers should not be giving you trading advice.
1 Like
I asked my broker about times he then said he would send me some home work and that if it was profitable he would happily get up at 4am
Yea I had only 250 left and thought I’d give this a go, I’m looking on other things like becoming self employed so all my eggs arnt in the same basket but thanks for the idea I might try doing something like that when I’m in a better position
Welcome, Steve. Seems to me that youre rushing yourself too much. Read all you can read here. Ask questions and youll be answered. Then test yourself in demo trading. And remember to do not risk what you cant afford to lose.
3 Likes
That’s what I’m doing my account is live but I’m not trading and I know I’m not gonna be rich, tomorrow I’m doing my homework intill I feel I understand how the market works the money I have isn’t gonna do nothing and further investment is gonna be needed
That`s right. Use demo accounts and test different strategies to find most suitable one for you.
Brokers are allow to advise their clients what to trade on except initiate buy/sell orders. After all, they are there to serve as an advisor.
If you’re really into trading with that 250, i suggest you to start of with support & resistance + candlestick pattern strategy. It’s the most reliable strategy and will never be outdated.
There isnt really a bias on which pair to trade as long it’s under the major 12.
Hi and Welcome
1 Like
Apologies if I was a bit blunt but I see too many people who think they can make a go of forex trading after less than a year studying and practising.
3 Likes
No I wil be the first to admit I came into trading thinking its simple opens my eyes now n I demo traded for a few months but I’m gonna take my time learning everything coz I want to succeed
No they aren’t! Many if them take the opposite side if the trade to you.