for the basics of forex, I suggest you go for reliable sources. For example, if you are looking for a book, buy the one with the most popularity, if you are looking for a youtube channel, choose the one that belongs to a firm or a valid figure, like a forex company. Look in sources where you have consider the lowest chance for wrong information.
Lol, that’s the end of Youtube as a learning source, then.
I demo traded for a couple months, hopping between different systems because nothing was working consistently. Then I came across this topic.
Scalping strategy to finish the year strong
I traded the original System in there for probably a full year. Wasn’t profitable but I learned a lot about timing, when to trade, when not to trade, how news affects price, I started watching the econ calendar here, chatted a lot with the OP of the topic and other traders. Tried to make some changes to the system to suit my needs. Then last year in Mar I think I went live with a like $250 I think.
The best thing for me was looking at charts everyday, even for just a couple minutes most days. But just doing that consistently was a big help. Then you start becoming familiar with how price moves a little.
So get a system to trade. To me it doesn’t really matter if you’re trades turn out as winners. That’s a cherry on top for me. It’s more getting used to it all. Especially on demo.
Did you read the School at all? It’s a good intro to the basics.
Thanks for replying. It’s much appreciated🙂 I’ve started the school, but have just got the part about margins. I haven’t seen the whole program yet, so I’ve probably asked questions that gets covered in the school😅
There are too many free resources available.
Go to YouTube and follow only one person who is best for you. Stick with the YouTuber and follow every tutorial of her/him.
If you are stuck with a problem, go to a forum like this one and ask for help. There will be many people willing to help you.
Thank you for replying Problem with YouTube is that there’s so many people in it to profit from us, and as a beginner I find it difficult to trust the content given. I’m currently following Tom Hougard and Al Brooks. Those I trust. But in order to get benefit from their videos, there’s a gap in my current knowledge and experience. They make amazing content, but I’m not where I can fully benefit. If you have suggestions, I’ll gladly check them out.
Hello good morning hope you good ive just read your question and read through everything and advise given you by evryone the question you’re asking is too broad and cant just be answered like that most especially since as your a newbie id advsie you seek mentorship qnd guardiance you can’t do it on your own. I have a personal strategy call IDF. Its simple to understand i can help you throughout this journey.
I disagree that you can’t learn to trade on your own. It’s important to get guidance, but it’s okay for beginners to learn on their own too. Everyone has their way of understanding things.
You need to start with a demo account. There are a huge number of trading strategies available in the public domain. Choose the strategies you like and test them on a demo account. This is how I created my trading strategy, when I created my own from several strategies, taking the most effective moments from them.
Al Brooks is a tough read. Tried one his 3 books in the price action series. It’s slow. Really detailed for just getting started. Maybe a bit much for a beginner. Is the Tom Hougard stuff YT or website? Sounds familiar.
TraderTom. Ok, yea Im familiar. You try out the group setting?