Hello Everyone,
My name is Shanelle! I’m 27 and trying to work my way to being a millionaire (lol like everyone else). I’m a gamer at heart but also a sucker for nature.
I’m looking forward to learning how to trade forex! My goal is to have a 2nd source of income doing this and maybe just moving over to this completely! Can’t wait!
Think big. You will earn more money if you make a good strategy
Hello and Welcome to the Babypips forum @Shanelleb!
As a beginner learning Forex you’re in the right place. Check out Education section here at babypips. (It’s completely FREE). Learn How to Trade the Markets There you’ll find School of Pipsology, Trading Quizzes and Forex Glossary. Everything you need as a newbie starting this field.
If you’re looking for good books to read check out this post by pipcrawler Pipcrawler’s Favorite Trading Books updated . Lot of book recommendations there find what you can and read them too.
If you’re looking for YouTube channels. TastyTrade, Adam Khoo, Candice B, Trading Rush, Investopedia has been recurring recommendations from many traders. Watch as much as you can and gather knowledge from them.
Investopedia and Forexfactory are another two great sites to learn the basics other than babypips.
One of the most important tools for a trader is Trading Journal. Check out the trading journal section in the forum to learn how traders keep track. Trade Journals - BabyPips.com Forex Trading Forum
Addition to these FX related channels invest your time to learn about Trading psychology, Risk Management and Decision making . Find any article or video you can and refer them.
Other than that, there are many interesting sections in the forum. It’s not time wasting to spend time there reading and learning. Check out every section you can and learn something from everywhere.
These are just a few tips to begin. There are many sources out there GOOGLE is the GOD if you have any question you just have to type it and He’ll give you not one by multiple answers.
Try all this and open a Demo account and trade at least for 6 months . Most people get confident around one month and start investing real money but most of them fail. One month of demo trading is absolutely not enough to understand anything. So trade demo at least 6 months to get a proper understanding of the chart pattern behaviors.
Having said all this, I also must tell forex is a risky business. It’s a High Risk, High reward situation. Many fail. From their own fault. Not spending enough time to educate themselves. Not understanding the basics. But with all the resources available you only need patience to educate yourself. Then you can go for the prize!
Good Luck
Nick.
Best of luck. Get lucky.
First and foremost construct a written concrete plan to success, not a pipe dream without any substance. Goals should not be fantasies, but real targets. Your plan should state where you are now, where you are going to be at a future date, and how you’re going to achieve your goals. Then pin it on your trading room wall.
As an aside, FX is never an income source, ever. At best you’ll make profits that are never guaranteed.
All the best for your future.
It is a bit like: I wanna be a rocket scientist to earn a second income, or a brain surgeon.
Hey, start learning from school of pipsology. You’ll definitely achieve your goal if learned with proper dedication. All the best!
Hey welcome! You are at right place and will definitely learn a lot here.
Wishing you the best!
It is so great that you are thinking this big, it is so important to have a correct and high thinking. Since, you are just starting, you should really consider going through Babypips’s education section and try & practise on the demo account first to get a better idea about things work in this world.