Why how where when

I am new and need to know why forex, how to make it work for me, where to go for the best account, when to trade and how to manage my account. Thats all, any help will be appreciated.

You have “School” link up there, go thru school first, there are answers to all your questions…

Like Avion says, go through the ‘School’. Try opening a demo account first and practice/experiment with trades to get a big picture of how currencies are traded.

I found both GFT and Forex.com to be rather decent for practice accounts. Forex.com has a much simpler interface, but it can’t do nearly as much, literally 1% of what GFT can.

Read the whole school. But before you begin, just keep in mind that even at best you are going to be able to make about 100% of your investment a year, and you are very likely to fail altogether. Just my opinion.

Try writting or typing down all the questions you have as you go along this wonderful journey to financial independence, and seek to discover them in not only this forum, but others recommended as well. For now, seeing as how your new to this, stick to baby pips because the other forums are for intermediate to advanced traders.

You will find, that as your questions become more complex, you will seek more complex and thought out answers…hence your natural gravatation to other forum boards (t2w.com, forexfactory, dailyfx.com, just to name a few).

by the way, the above quote was some pretty bad advice…I know this from my own personal experience. Don’t let someone elses failure (or in some cases, success) discourage you in anyway. Learn to take what you need from a post, and leave the fluff out. Do your research and you will learn who know’s what they’re talking about - those are the "true"experts in their field.

Thats all for me. Have fun, take risks, learn from your mistakes, and I promise you will succeed.

:slight_smile:

“I am new and need to know why forex” The unlimited opportunities to grow your account in ways a savings, IRA, bonds, mutual funds etc never could - other than that, thats really a question you need to ask yourself, no one put a gun to your head and made you come here :slight_smile:

“how to make it work for me” Trading is fortuantely, a business where you litterly CAN make it work in your favor 10 fold. This requires tons and tons of study time reading every single thread you possibly can here. To accomplish this, you need to make this a passion to succeed at this craft. If not there, develope it. What’s the real reason you want to trade? this can be a motivator for you to passionately pursue this profession.

the best account? well, not entirely sure what you mean by that one

when to trade and how to manage your account? it all starts with learning the foundation of currencies first, from the meanings to subtlties. Not to be confused with trying to learn it ALL, thats a fools game…when you feel you’ve reached a point in your journey where you should move on, don’t hesitate, just MOVE FORWARD WITH THE PROCESS.

You’ll find plenty of past topics about money management. Not to be confused with “old”, because most of all these principles that worked a hundred years ago still works till this day.

I will just give you a simple response and this is something you should really take to heart.

Consider your training in forex a marathon not a sprint.