Get a demo account and then start the School of Pipsology. Easy question! Check out the free trading system section or try the Cowabunga system. It was started here by the Babypips people.
From your question, it seems that you are new at trading. I will recommend you not to jump onto lived trading first because if you do so, it will carry tears for you. Rather you should practice demo trading as much as possible because it is really helpful.
For a new trader, taking a plunge in the live market without prior learning and practising is a big NO. Once you are through your education, you can start working on trading strategy and start with a small amount in the live market.
You should open your demo account firstly! Besides, start your learning session by babypips school, you’ll have the proper guideline in there; best of luck!
Hi,
A link to a book by the FT. I have read a similar book from FT about 30 years ago.
Also recommended from same source: The Naked Trader - Robbie Burns - a pragmatic ex-journo who makes a pretty decent living in London - almost purely from his accumulated investments in FTSE companies
About trading, go to the Education section at the top of this page and start the School of Pipsology. That will give you a good start. Hint - forget all the hype you see on social media. That is designed to part you with your hard earned cash. If you start out with the goal of “How do I learn and practice with the objective of not losing any money” that will help you with two virtues - being patient, and being cautious in how much money you put at risk for each trade. Opening a demonstration account can let you do this with paper currency, not real currency. Once you are losing less than 1% of your total trade values, you know you are close to achieving your first objective (how to not lose money) and if you can follow the same principles, strategy and plan, you will continue to improve. It could take years but the journey is fascinating.
Look around for a second hand book at half price or less. It is good practice in becoming a trader. First rule - never pay market value for a trade entry. Second rule - it is contained within most good strategies.
Hi! Welcome to Babypips. The first thing you should do is complete your forex education. Go to the education section and start with the school of pipsology. Good luck!
Excellent recommendation, it’s a great school here indeed!