Tech background, but Forex newbie!

Hey guys! A complete newbie here :nerd_face:
My name is Claire, I work FT for a global Tech company, wanting to get started on the basics of Forex! Any tips or tricks are most welcome! Excited to see where this journey takes me :sunglasses:

1 Like

Hey welcome to BP!

Tips, grab a demo account and start reading the school! There’s so much. .if you’re brand new, just follow the order.

The demo account will get you used to a platform, features, messing with chat tools, all that stuff.

It’s a journey! Don’t expect gold overnight!

Ask lots of question! And share what you’re doing, good and bad.

Enjoy!

Hello Clair, The best thing to do is know Meta trader 4 and know how to use Trailing Stops. Never enter a trade without setting up a trailing stops for your protection. You are going to be a great Forex trader Clair,

Good Luck and Success to you Clair

Maintain a disciplined and objective approach to learning, don’t use too much risk. 2% per trade is a popular metric.

Only use capital you are willing to set on fire.

Look for one good trade at a time. Rinse and repeat.

Hi and good luck in this long journey :slight_smile:

Welcome and all the best on your forex journey.
My single advice to you is to find yourself a good mentor. I am not telling you to spend any money because I know people are around who would be willing to assist you for free. In the same way you get your kids a teacher to teach them to be a mechanic instead of merely going on youtube apply the same logic to yourself and forex trading.

Welcome to the forum! That’s great! Make sure you learn and understand the market sentiment before making any moves. Practice on a demo account so when you do trade live, it’s dealt with confidence. Keep learning and moving forward despite any losses. Make sure you apply strong risk management techniques.

Demo is useful for sure but you won’t use it for analysis so get well acquainted with Trading View. Demo is no good if you don’t know what you’re looking for.

That is funny, I all the information that you said I understood but what locked the information to my heart is rinse and repeat… smile.
Thanks much

Hi there, welcome to the market and the forum!
The only thing you need to make profits in the forex market is knowledge. Sl make sure to thoroughly understand and read every concept, not skip any part, and definitely practise in a demo trading account.