I am Mctony, I want to advance my understanding in forex.
Forex is a foreign currency exchange market. Where many traders work together. You can trade in this market by gaining knowledge. Many profits can be made by trading by maintaining discipline.
Go through the School of Pipsology and then see where you want to go next
Start with babypips.com/school. If you went through it already, find advanced tutorials in youtube and udemy. For books, here’s a list that you can check out… Interesting Books/Ebooks about Forex Trading
Agreed! From babypips, School of Pipsology, you will be able to understand the concepts of forex market easily. Along with this i would advice to open a demo account and try to observe the things that you learn on from your babypips course.
Yeah you’re absolutely right. I’m sure that there is no huge success without strong discipline, you know. Of course profitability depends not only on discipline, it depends on skills, knowledge, experience and stuff like that. I guess new traders have to understand that these main notions are not just a way to make them scary which is used by professional traders. These notions are their pass into the new world indeed. Hence they never have to neglect these main notions. They should always learn, practice and train. After they elaborate this system everything they want will be much more easier to reach.
It can be really daunting and confusing considering the masses of information surrounding the subject. So just focus on developing a strategy based on what you learn. Trial and error is king
Hey Mctony, Foreign exchange trading (Forex Trading) is essentially the trading of the currency from two countries against each other.
The pairs are predetermined by brokers, who may or may not offer a match for the currency pair that you want to trade. For example, a popular pair that is widely traded is EUR/USD
you can go through the psychology of school which is the best place for beginners to acquire most powerful analyzing basic knowledge.