UK Newbie that would love some advice.

Hi all, I’m a 17 year old from the UK and I’m looking to get some advice on how to get started learning about forex trading.

So far I’ve signed up to the Babypips course on forex (which seems to be great!) that I’m planning on going through this week and I’ve downloaded a bunch of forex books for my kindle like Currency Trading For Dummies by Kathleen Brooks & Brian Dolan and Trade Your Way to Financial Freedom by Van Tharp that I’ll go through over the coming weeks.

I’m currently on summer holiday so I’ve got lots of time off to start learning about forex from a beginner’s level.

Any advice for a newbie like me would be really appreciated!

If you have just signed up, spend some time going through the course. You can also use TradingView to start practicing marking up charts. You’ll need to be 18 before you can go live, but you may be able to open a demo account somewhere to start practicing

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Hey @Danielk1! Welcome to the word of forex. Really appreciate you are so keen to learn about forex. Just focus on the learning part for now and keep practicing on demo account.

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Hi there, welcome to the community. So glad to see young people spending their free time in learning something productive. You’re at the right place because the course here is amazing for learning the basics. Apart from that the books you’ve downloaded are good. Just don’t rush with it and take your time to understand the basics.

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Put in plenty of time doing research start with the babypips school

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Thanks for the support everyone! I’ll go through the babypip course and focus on the learning part for now and then try out a demo account after a couple of months learning. What websites do great demo accounts?

Demo accounts are a good way to learn about the markets and trading but also about how well the broker performs. Get at least 3 demo accounts with different brokers, though there is no limit. As you’re in the UK, don’t ignore the option of spreadbetting - UK SB firms are regulated exactly like UK CFD brokers. Spreadbetting is a slightly more expensive way of day-trading but there is no tax on SB profits.

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Yes, it is possible to develop a lot of knowledge and skills by practicing with a demo account. That’s why when I get a new strategy, I first practice a demo account.


If you want to develop trading knowledge and skills, you should do demo trading. And meditation is needed to control psychology. This issue needs to be considered in detail through the demo account.

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There’s so much free content on YouTube, become an expert in anything now!

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Yeah 100% true!

It is as dangerous for a beginner to take the first steps in the Forex market as it is to take bare electrical wires. Moreover, I argue that Forex is a game that, in terms of its influence on a person’s life, is as dangerous as the passion for gambling. In roulette, a person hopes for luck, and in Forex, a beginner makes decisions based on intuition, or also hopes for luck. I have nothing against intuition, just let me warn you. When there is a large amount of money at stake, and the thirst for winning, louder and louder, shouts out the words: Come on, come on, come on; your intuition will have a hard time. At best, if she keeps silent, or says too quietly that you will not hear.

Beginner’s Guide to Forex Trading:

1: Understand the Markets. The importance of learning about the forex market cannot be overstated.
2: Make and stick to a plan.
3: Put it into practise.
4: Predict the Market’s “Weather Conditions.”
5: Be aware of your limitations.
6: Know when and where to take a break.
7: Leave your feelings at the door.
8: Maintain a Slow and Steady Pace.