New here guys. Willing to put a lot into learning about forex and have some questions?
People on the site say you have to put the research in. Where are the best sources?
And I’ve tried searching but struggling to find material on when to actually enter a trade - can anybody provide any advice with this?
Thanks, Ben
I’d start with the free stuff. Try a cross-over system. Try the Ichimoku. Try a bunch of the different systems that people use and that you can find for free.
Once you work out which ones you actually like using, then you can start looking for the best sources. My best purchase was John Bollinger’s book on Bollinger Bands, for example, but unless you like Bollinger Bands you won’t get much out of it!
Hi,
Welcome! The very site that you are posting it on has a whole course dedicated to learning forex!
Entries are not the only aspect you need to learn, things like exit strategies, stop losses, risk management will pop in mind, and the course teaches all of this stuff, if you are willing to put a lot of time and effort into learning, I suggest you go through the BP course first. It also teaches where and what to look for when you do your market research.
https://www.babypips.com/learn/forex
Good luck!
I love Bollinger Bands and was taught a nice strategy for using them. So, I’m definitely going to purchase this book. Thanks!
I agree with the advice to try a cross-over system at first. They do work, but you have to fashion this tool to fit your own requirements before it will make a masterpiece.
At the very least, if you run this system with the same simple but comprehensive set of rules for 100 trades, at the end of it you will know what worked and why and what failed and why and after that you will know what you have to do to be profitable.
When you place orders with a forex broker, it is extremely important that you know how to place them appropriately. Before placing your trade, you should already have an idea of where you want to take profits should the trade go your way.
I advice you to spend a lot of time learning. babypips a forex training for beginners, the book on the subject is also a good way to learn your knowledge on the subject, and use the demo account that will allow you to trade in the currency market without risk your money.
Did you complete already BabyPips School? I’m asking because here you’ll get a complete Forex education! By the way, for entry and exist point, try to work on support/resistance levels.
After finishing pips school and some experience of demo account it is more appropriate to kick off a live account, but of course with a little amount.
its a nice suggestion , only pips school cannot learn you more. spent a lot of time besides this on others , Forex.com also can supports you to learn more. and then trade a demo . but not at random.
When you answer that question, you are half way to your fortune. 
Then you will just need is knowledge of “When to exit”
Where to enter trade is only a key question if you’re trading very short time-frames. If you’re planning to hold multi-day positions its more important to identify the right targets and the best places to get out, not in.
In my opinion the Babypips school here is one of the best sources as many other people would agree. I recommend you to check it if you haven’t done that already. There are a lot of free video tutorials and books in the web as well. And of course the forum, you could find a lot of threads which could help you with your question. Here are some examples:
You suggested so many sectors for learning. It’s okay. I appreciate. But I think if newcomer goes through preschool level completely, of course they are ready to move live account. But practically I have seen they just finished preschool level very shortly and move demo or live trading. Minimum 2 – 3 times is needed to finish pips school. It would be better.
Tuesday’s are good for entering trades. My best trades are entered on a Tuesday.
Sounds a bit silly I know, but Monday’s are usually quiet then it’s like by Tuesday the market has decided which way it will head that week.
True fact. In order to me, beginners have to pass minimum for 1 year to learn real market principle which can make them profitable in live. But they passed a very short time in demo or preschool level. As a result they don’t get the result they expected.
Criss, I just want to say about your reply the more you get the more you learn.
1 year is more appropriate. But the reality is they are not able to keep patience within a long time. When I was a newbie I have passed just 3 month in demo and school level then has started a micro account. Actually we the newcomers first of all go through our learning approach minimum for 2-3 times. Time is not a big deal in here.
Yea Tuesdays - Thursdays are the prime days to trade throughout the week.
Also new here, and learning about forex. And now reading all replies on this topic. Hoping to learn more from here. I found that we can’t lead our lives without struggling. From beginning to end hah.