I am in Africa. completely new in forex trading. infact I know nothing on forex trading. I have been reading about automated softwares and every software has pretty bad reviews. any advices? I really wanna do this but I need an experts hand
You are welcome! Yes, maximum automatic service providers are fraud, that’s way you may see negative reviews! Even I believe automatic trading service is not a good solution for the novice traders! Try to learn Forex manually! Use all of popular Forex forums to learn trading techniques! By the way, if you are not interested on manual trading then you can go for automatic trading service, but again…….. be careful on selecting your trading partner!
It's a long road ahead for the complete beginner, and full of hazards. Why don't you start by completing the BabyPips School of Pipsology (free), and then visit sites that share strategies, i.e. Forex Strategies Revealed? Learning from other people's strategies can provide a fast-track into the market. Just remember to thoroughly test a strategy on a demo account before committing funds to a live account, and remember that money management is just as important (even more important) than market analysis! Good luck!
My recommendation is to read up on technical analysis theory and practice it for a while manually at least on a demo account just so you get an understanding of forex trading before you do anything else.
wleverts posted: I am in Africa. completely new in forex trading. infact I know nothing on forex trading. I have been reading about automated softwares and every software has pretty bad reviews. any advices? I really wanna do this but I need an experts hand
Well, I appreciate your decision but please don’t rely on others reply! In this forum, you’ll get so many useful contents on automatic trading software’s! Just use all of them! Besides, you also can use others popular Forex forums to know details the advantages and disadvantages of automatic trading! Happy Learning!
Well you can start with - https://www.babypips.com/ - this is a very good website for beginners. Helped me a lot back when I started learning. Search, read and analyze. There will be no one to come at you and say “Hey, do you want to learn Forex? I will teach you…” . You have to be constant and serious about trading. Dedicating most of your free time to it. Good luck!
There are many books, articles, lessons in the internet - just do not blindly follow them. Take it from there that each book, article and etc. need to help you to build up you own vision about the market, what is moving the market and how to trade. You will need it to create your own style fitting exactly for you.
Bloomer posted: Don't forget fundamental analysis. Almost all retail traders ignore this aspect but almost all pro traders focus on it.
You are right, maximum novice traders focus on only technical analysis! But no one can success here without learning fundamental I mean news analysis with details! Traders need a combo trading skill on technical and fundamental analysis!
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UPOZORNĚNÍ NA VYSOKÉ RIZIKO: Obchodování s devizami přináší vysokou úroveň rizika, které nemusí být vhodné pro všechny investory.
Páka vytváří další rizika a ztráty. Než se rozhodnete obchodovat s devizami, důkladně zvažte své investiční cíle, úroveň zkušeností a toleranci vůči riziku.
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