there are many sources to learn about this market. try to test every concept you get on your platform. Then you’ll be sure you got it, did you get already a demo platform?
I know you want to learn a lot of this, but what do you want to know? Theres a lot of info about, so trying to tell you, know you can get it all, is little hard. For now I can tell you, that is better you go to babypips.com and learn as much as you can in there, is a good school for beginners. When you get ready to get in the market, you can get a good demo, from tradeview.com and learn a lot form it. But you have to do the easy way to get better. Good luck, and not worries, there are a lot of ways to do it.
I know there are a lot of things I need to learn… I’ve been reading and trying to get good information. Also, I got a demo but I’m just trying to understand… I’m gonna take a look of babypips… Thank you again…
Read those comments about advices for new traders, are good to know what the better way to start is, they are good very good. They include names of demos, brokers, software, etc. so you can know better.
I know can be hard in the beginning but don’t get frustrated if you don’t have a millions pips in one day, even if you lose something, that`s ok, it`s not real money, so try again, every time will be better.
Thank you very much! I’m preparing myself and following all the good advices Pete. I’m practicing with TVF, and actually, I was thinking I’m a disaster until I saw your comment, Clark. Thank you guys again… I’m going to continue!! Any other suggestion??
hi, although I'm also a new member, I can tell you that this forum was a good beginning for you , as it was for me, because I realized that here are many people that know important things about forex. I recommed you to make a list of new words for you, (I'm making one too) and their meanings, and it will help you to improve your vocabulary about forex. good luck!
This forum is a good way to get your nose wet on everything related to forex terms and tools, as well as strategies and platforms. I guess this is the best way to clarify your doubts.
Forex trading is made easy only when you have techniques, strategies and tricks. Which you can gain only by learning and reading tutorials. so start up with reading forex traders experiences and indicators etc.
Earning huge profits in long run is not a easy task in Forex. Many people lose tons of money in this trading system. Foreign markets are very volatile. Therefore people engaged in this trading system should be very alert and updated with the market movements. Being an active trader, I am suggesting some profit mantras which I gained by my own experience.
Profit Mantras
1. Knowledge is must: good knowledge is very essential before trading. Understanding of subject, terminology, financial market behavior, current trends, foreign news are must for the trader.
2. Knowing currencies well: currencies are traded in pairs. So it is very important to understand the impact and relationship among both the currencies.
3. Risk Management: take risk only when you are prepared. Risk and return are the two sides of coins. Better management of risk will fetch better results.
4. Read, learn and trust trend charts: gaining information and following trend charts can help the trader to earn huge profit. It is always advisable to stick with the trends as the currencies mostly follow a similar pattern with minor fluctuations.
5. Deal in common pairs of currency: for a beginner it is always safe to trade in common currencies as the proper information is available. Uncommon currencies are very volatile and sometimes do not follow the past trends.
6. Learn from the past experiences: always try not to repeat the same mistake and remember the mistakes done in past. Experience will make trader confident and will help him to understand market well.
7. Avoid unknown Forex trading strategies: trader should not involve in these strategies which he does not understand.
Thus, there is no full proof strategy to stop loses but by following the above mantras trader can certainly avoid some of the loss. So friends all the best........