Forex Lover

[valo_manus]

Hi all,

It feels good to be a member of this forum.It is long time i have come across to know about this forum which is related to money and trading and i like so.However I have been considering trading forex. But I am not sure if this is for me and from where to begin. So can you give me any suggestion on this? I am waiting for your good responses. :thumb:

 

[gd.shepherd]

Hi all,

It feels good to be a member of this forum.It is long time i have come across to know about this forum which is related to money and trading and i like so.However I have been considering trading forex. But I am not sure if this is for me and from where to begin. So can you give me any suggestion on this? I am waiting for your good responses. :thumb:

Forex trading is quite challenging as it is 24 X 5 moving market. You could pick up good books on forex trading and completely understand the major pairs and what governs their price action and how they move. Once you have sufficient knowledge, you could put up practice trades in a demo account and practice different strategies like moving averages, bollinger bands, Stochastics etc. If you observe the market long enough, you might as well end up developing your own indicators to time the market.

Good Luck

Shepherd

 

[MichealFlether214]

First of ll you need to select a good forex trader that has good reputation online. My advice is to go for a forex company that provides a demo account along with learning material related to Forex Trading.

 

[d_hasta]

Hi valo_manus,

Its a nice thing that you planning to enter forex trading which is US $ 4 Trillion market & is open 24 hours for 5 days a week!

To begin with you should have thorough knowledge & practice before actually trading with real money.
Try searching for good literature on forex trading or you can check the simplest at babypips.com which is in simple language & comprehensive.
Then you should start trading on demo accounts.
Also, there are various FREE webinars that are offered by many brokerage houses that you can make use of & can actually benefit from them.
Then once you feel confident , do a thorough research of a brokerage firm you'd wanna trade with & then open an account with them!
All the best.
If you have any queries you can always get in touch!

 

[MichealFlether214]

I have learnt a lot from the learning portion of baby pips.com too. Really very helpful and is highly recommended to anyone.

 

[tamaa]

one thing for sure my friend, learning forex trading takes time but it's a time well spent. look for you confort zone in learning forex, I mean you might be a bookish type of person then you can start reading e-books, or try webinars, then go to using a demo account to get a good feel of trading forex (I had to learn the hard way way back >.<) stay with demo for a couple of months before you decide to go live, another thing is choose you broker wisely. research and ask about them. alot of people here are willing to help and provide opinions cheers.