Tips to learn forex for beginners

As a Forex trader i am in the business of Forex trading for many years and i can say for sure that the key to success here is Patience.

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Thank you very much for agreeing. How much profit I make will depend on my experience. So if I want to trade, I have to learn trading first.

Right. the more you gain experience the better you prepare yourself for market uncertainties. Side by side you can test a couple of strategies on your demo account and keep a record of the outcomes… This will help you to analyse your trades better.

Thanks for the tips and I’m sure many would benefit.

You are most welcome @rafaelvaldez. I am glad that my knowledge could help :slight_smile:

To be able to become Better Forex traders we have to put more Efforts into learning about this business.

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Correct… Investing efforts is more important than investing capital

How do one limit leverage ND how do u know when is high

Well said!

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What is that one advice you will give?

My advice is to stay away from Babypips. It is a failed website where most people, teachers included, are unprofitable.

Always keep a check on your emotions.

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Thank you :slight_smile:

Do not jump into live trading without proper research, knowledge and skills… This is the first and the most important lesson every newbie should follow.

I would like to know your story behind this comment… It seems like you didn’t have a good experience with babypips.

It’s pretty much the oldest forex education website online, spanning over a decade, and there is pretty much nobody who’s making money consistently in these forums. After such a long time, you’d expect at least a handful of people would become consistent. Every person who comes along and shares a system eventually dissapears, not a single track record is seen by a mile, the strategies the educators share weekly on the blog have been proven multiple times to be unprofitable.

It is clear that what’s taught here does not work.

Everything with the exception of HLHB that is reaching 3 years of trackrecord. :wink:

If a trader completely relies on any one source he/she can definitely not achieve the desired goals, one needs to be determined and keep on practicing with new strategies and techniques. Here everyone shares their experience, but its upon an individual how to make use of those experiences

Of what? She is not even beating the sp500.

That is another story, what matters is that it makes pips and is uncorrelated to spx500, it could beat it with more leverage.
Neither hedge funds are beating spx500.

What is taught here CAN produce a profitable strategy.
There are other forums running for decades without a single profitable trackrecord.