I want to start FOREX trading BUT where do I Start?



I want to start FOREX trading BUT where do I Start?
Hi I am 20 and I believe I am cut for trading. Reasons are I enjoy mathematics, complex systems, economics and analyzing. I have made the decision to start into Forex as I figured, the younger, the better and more experience. However I do not know where to start, I have around 2000 dollars as start-up capital but don’t wan’t to start throwing money around, so anyone with experience would help me out and guide me towards the first steps to learn the game and be profitable(not instantly) while time passes . Thank You

Best answer:

Answer by William
1) Always use an ECN/TCP broker, not a dealing desk broker. That will eliminate the middle man and will save you a ton of headaches and unfair losses. FXCC.com is a good choice for broker.

2) Start learning basic strategies, perhaps from BabyPips.com. It is better to actually acquire a proper course because then you will learn via a proper learning process step-by-step. Since you are new to Forex though, perhaps even staying off the internet at the start is a good thing simply due to the sheer volume and distraction of vast information out there. In other words, a good beginner’s book on Forex might be more suitable than search strategies on the web.

3) Avoid the temptation to use robots (automated trading) and avoid using too many indicators on your charts.

4) Months of paper trading (demo account).

5) Contact me after you learn all the basics but before you deposit real money. I can tell you a few secrets but they are at an intermediate level at least, and will be too time consuming to explain if I have go through all the basics.

What do you think? Answer below!

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3 Comments


  1. KaushikP's Quality Input (December 9th, 2013 at 7:26 am)

    It is all gambling.

  2. Ella B (December 9th, 2013 at 8:03 am)

    u can actually have personal mentoring or coaching from this site. u need to register though as a trader to avail of the free service. discussions can be done via any means of online or even personal communications between u and ur mentor. all the best

  3. JT (December 9th, 2013 at 8:12 am)

    In my opinion, you should learn the basics at the free technical analysis school at babypips.com and then get a strategy that focuses purely on price action such as the pipdaq setups.

    That way you give yourself the best chance of success in any market, not just Forex but stocks, indices etc. There is a risk, though the rewards can be massive..

    Good luck and enjoy your trading journey!


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