Hey guys my name is Jody I’m 23 I’m using all my savings to get into forex but I can honestly say I’m confused I just need like the best starter kit can anybody help?
first welcome
second do not use your saving
use money you can afford to loose
Well yeah I took a fair amount I can play with
hope you can make profit
Appreciate it I’ll try my best
Welcome! You don’t need to risk your savings while you’re learning. Use a demo account to learn how to trade and to test your strategies. When you become consistently profitable then you switch over to trading with a funded account.
Success jodymac96 ! In case you trade live for the first time and you blow your account please don’t give up.
Good to hear. So tell us more, what have you done to see if this will be a profitable venture for you?
listen to @QuadPip…it only makes sense to start with demo because you’re more than likely going to lose your own money anyway starting out lol so just get as much practice as you can on demo
You really need to start with pipsology course here in order to avoid all such situations in the future. I do hope they will make wonders out there for many many people. Start to play with small amounts of money or in other words even start with demo accounts at first.
Welcome to babypips Jody! Please don’t use your savings while starting out. Open a demo account and practice trading.
Take one tenth of your savings - thats a good place to start. Dont know how much that is - but if thats means only trading micro lots fantastic!
Once you have mastered micro lots only then step it up.
but yes starting on demo is best!!!
New traders think if they really can earn much out of Forex trading so that they can make it a full time business or consider as primary grossing the answer is yes you can but first of all you have to be very determined and you have to do it with complete focus and do with consistency. The main reason of a traders failure is lacking of continuity and patience, lacking of goal set up and planning is also a major reason of failure. You need enough capital before starting if you don’t have have enough capital don’t step towards trading until you manage the capital as it will affect the continuity and flow as with limited funds you won’t be able to trade liberally.