How do I start trading . How do I invest. I need help
move on step by step and never skip any step with no reason, investment is a major step , i agree but not the first step at all , as a beginners be educated by learning which is the first step. after doing this move on in a practice account , then you can invest in a real account but very few.
You start with learning. Don’t invest a penny yet. You are miles from that. Just focus on learning in the education section and practicing. There are no shortcuts here. Treat it like a long degree.
you can start with psychology of school from this community , then move on trading section but dont hurry
investment is part of 4th stage , so this is not appropriate at this moment.
Don’t even attempt to start investing unless you have: 1. a solid knowledge base about financial markets and 2. a consistently-profitable strategy that you’ve personally back-tested and live-tested for a long time;
At first go through the school of pipsology like learning for an examen. What you get on information during the course is the best basic information you can get to obtain a solid knowledge what’s going on
You have to be realistic about trading. Its a hard and slow road.
So in order to be free to trade, you also need a job to pay for your living costs: trading won’t do this until much later, and whatever capital you withdraw from the trading account makes your trading even harder and slower.
You also should have long-term investments to pay for your retirement. These could be value shares, it could be property, but the idea again is that you add to these things slowly over the years and never touch them for capital until you have no current or future income and no savings.
You need to choose a broker to open a demo account through. Practice there until you start bringing in consistent profits before you even consider live trading.
Learn first, the school on this community is a good way to start. This is the foremost thing to do before you begin to invest in forex.
Hi, and welcome.
Forex is not the only kind of trading. People trade Pokemon cards, food, goods and services. Forex is a specific type of trading that attracts many prospective people because it seems you can borrow a lot of money for a small starting amount. That is the fastest way to lose all your money if you do not set controls.
And investing? Well, that is just a longer timeframe over which to win or lose money than trading is.
Many people think there are some secrets to being a successful investor or trader. There are no secrets - but there are some rules you should apply, and there are as many rules as there are investors and traders.
Try starting with this thought experiment:
Why do I want to trade?
What do I want to trade?
Are there faster or simpler ways to get what I want than to spend thousands of hours learning a quite complex subject (trading Forex)? Is there something I know a lot more about than Forex that would achieve the same objectives?
If you start to quantify this thought experiment, and turn it around asking the What first, before the Why, that is called a Strategy. Once you are sure about your strategy, you can then spend some time thinking about how, when, who and where you can achieve the What. There may be some other options easier than Forex (like turning up for a paid job for which you get the same wage every day and all you have to do is turn up).
If you still think Forex is a good reward / risk prospect, then go to the Education section at the top of the page and start studying the School of Pipsology courses. They are great.
Best of luck
Start with the education section here
Then signup to a broker use a demo account coupled with a one strategy one pair approach and take your time it’s a marathon not a sprint
I don’t want to sound mean, but that’s a lazy question.
Rather than just pose that question to everyone, why don’t you first share what YOU have done to start learning how to trade?
What efforts have YOU made? There are a lot of resources available just on this website, and even more online, so it’s not that difficult to start doing some work yourself before asking for help.
As suggested by others, it would be a good step to first complete your forex education. Starting with the school of pipsology is an excellent step. Feel free to ask any questions!Good luck
The first step of your trading career has to be learning. If you clear your basics well in time, you will be able to understand the market easily and more quickly.
Just start trading…
Get a demo account for a few weeks and start trading… learn how the trading platform works.
Choose a timeframe depending on the time you can dedicate to trading. If you can be about 4-6 hours per day continuous, trade the 30 minute chart… if you just have 1 hour, trade the daily chart.
Learn to draw support and resistance in a chart. With time in the market you will learn to recognize the probable scenario, meaning if the support/resistance will be respected or broke. And you will learn to get an idea of the price the market is going to. You trade based on this understandings.
Choose a trading strategy and be disciplined enough to respect it’s rules… don’t trade on feelings or emotions.
Once you get the basics, open a small real account (something you can afford loosing, but at least 300$) and try to grow it. Use a low risk, like for example 1-2% per trade (use a stop loss). So in theory you have 50-100 trades before blowing up. Don’t overtrade… have a daily maximum, so you can guarantee to be alive in the long term. Protect your Capital.
Daily check the economic calendar. Do not trade when important news are being released like Interest Rate decitions, NFP or CPI
If you have specific questions ask here.
Once you are profitable, slowly increase the size of your account.
Learning is obviously the first step of your trading career. Obtain basic knowledge and practice on a simulator before going live.
Follow this advise 100%, learn first and learn again before you start investing.
Hi. You can start with the school of pipsology. Everything on how to start with forex trading is there. Cheers!
You have come on such an amazing platform. You don’t need to go anywhere to learn. The school of pipsology will prepare you for the market. Go through it thoroughly.