Newbie in town learning FOREX

My name is Oludayo. I have been searching for how to make some passive income, and I stumbled on FoREX trading; from my understanding and what many big traders I have been watching have iterated. Forex trading is very risky, and any trader must get the right mindset, obtain training, read, fight greed, and work on their psychology.

I have joined this academy to learn all that is necessary,

Thank you all.

4 Likes

First of all WELCOME!
You’re in the right path. Learning, having a good mindset, working on your psychology and raising your awareness. These are all you need as I learned.
Good luck!

2 Likes

I’ll add to learn how not to lose money. Without an account you cannot trade. And use a demo account to develop a profitable strategy and a definitive process that you adhere to for every trade.

3 Likes

Welcome to babypips!
Good luck with learning and trading.

1 Like

Hi and welcome :slightly_smiling_face:

1 Like

Hello and welcome to the community Oludayo! You will definitely enjoy and learn from all the free resources here. Good luck on your trading journey!

1 Like

Welcome Oludayo

I believe that trading can earn you a living, but it’s not going to be a quick and easy journey, as I’m sure a lot of the full time traders here will confirm. Just remember, education is key, and once you have the basics you will need to keep on learning. Think of this in the same light as brain surgery!

2 Likes

… but hopefully without any of the skull-drilling and blood! :dagger:

2 Likes

Yep. But it’s very similar as with brain surgery you need to know which part of the skull needs chopping and drilling depending on the patient that day. Very similar to forex in the fact you need to know which strategy to deploy depending on the market that day. And I wager both skills are equally hard to learn!

2 Likes

Welcooooome! :blush: It’s great that you have more realistic expectations. :sweat_smile: It really won’t be something you can learn overnight, and I’m not sure it would count as “passive” income either. :sweat_smile: But it’s definitely worthwhile. :smiley: Good luuuck!

1 Like

Welcome to the community, Oludayo. Yes it’s very risky. It would be wise to start off with a demo account than going straight to live trading. Good luck on your fx trading journey.

1 Like

Hi Oludayo, welcome! Take advantage of all the resources available to you and take things one step at a time. Best of luck on your trading journey!

1 Like