My name is Ian and I live in Toronto, Canada.
I'm retired and suddenly I need to augment my income from pension, so I have landed here. I have been mildly trading stocks since May, been trying to understand Options for a few weeks and that's quit a learning curve. I'm told Forex is the worlds largest 24hr market, yet I know little of it. If I am correct that I can follow the brilliant traders here at some cost to be determined, then maybe this is FINALLY the answer to a nice retirement.
I hope this is the forum to have this explained from how to join a mentor, to how to copy the trades. I'm anxious to learn.
Suggestions welcome.
Ian
I'm retired and suddenly I need to augment my income from pension, so I have landed here. I have been mildly trading stocks since May, been trying to understand Options for a few weeks and that's quit a learning curve. I'm told Forex is the worlds largest 24hr market, yet I know little of it. If I am correct that I can follow the brilliant traders here at some cost to be determined, then maybe this is FINALLY the answer to a nice retirement.
I hope this is the forum to have this explained from how to join a mentor, to how to copy the trades. I'm anxious to learn.
Suggestions welcome.
Ian
Dec 14 2019 at 22:57
mac183970 posted:
My name is Ian and I live in Toronto, Canada.
I'm retired and suddenly I need to augment my income from pension, so I have landed here. I have been mildly trading stocks since May, been trying to understand Options for a few weeks and that's quit a learning curve. I'm told Forex is the worlds largest 24hr market, yet I know little of it. If I am correct that I can follow the brilliant traders here at some cost to be determined, then maybe this is FINALLY the answer to a nice retirement.
I hope this is the forum to have this explained from how to join a mentor, to how to copy the trades. I'm anxious to learn.
Suggestions welcome.
Ian
Forex is traded 5 days a week, 24 hours a day.
If you are new to Forex, I would suggest that you open a DEMO account with a highly regulated brokerage with strong guarantees of asset protections. Once you have a DEMO account setup for Forex, I would suggest that it is virtually funded at the same level that you would be trading if it were a real account.
It is my opinion that you should stay on DEMO until you can generate a reasonable profit each month for at least 3 to 6 months (OR LONGER).
The specific strategy honestly doesn't matter as long as it generates a consistent and reasonable profit level.
The difference between a profitable account and a blown account is RISK MANAGEMENT.
Risk management should be the #1 priority above everything else.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Good advice about the demo that's for sure and one of the most important thing is that from what I have seen people really make much more from the stocks and options than from the forex if done really correct way, so keep that in mind;)
Apr 24 2020 at 11:00
Hello! Wishing you all the best
I am sure that by now you have coe acroos threads about how long a person should take to learn forex before they begin trading for real and it is a very long time. That is the truth but it also depnds on how fast of a learner you are. What I mean is that some people take longer than others because they are not used to learning a lot of things in a short while. Either way it is stil recommendable that you take as much time as you can before you begin trading even if you are a fast learner. The most important part is the demo account. The demo account is where you will get the skills that you need to become the best trader you can be. take as much tome as you can o the demo accoumt. it will determine whether you are fit for forex or not.
Welcome to forex newbie. We are all here to discuss important things related to forex. This is a comunity of traders, both skilled and the ones still trying to get on their feet. We all know how trading alone can e lonely but when you are together wth some people then it feels easier. Now that you have joined forex there sre some things that you have to do to make sure that you start of and do your best. The first and very important thing is the acquiring of all the relevant knowledge before you start training. Where we are now, knowledge is everythung. Those who fail forex do so because they do not take thier time to learn what they should. Do not make the same mistakes.
Apr 25 2020 at 23:34
mac183970 posted:
My name is Ian and I live in Toronto, Canada.
I'm retired and suddenly I need to augment my income from pension, so I have landed here. I have been mildly trading stocks since May, been trying to understand Options for a few weeks and that's quit a learning curve. I'm told Forex is the worlds largest 24hr market, yet I know little of it. If I am correct that I can follow the brilliant traders here at some cost to be determined, then maybe this is FINALLY the answer to a nice retirement.
I hope this is the forum to have this explained from how to join a mentor, to how to copy the trades. I'm anxious to learn.
Suggestions welcome.
Ian
First of all, go https://www.babypips.com/learn/forex
and finish your learning first.
Then open a Demo account and start practising.
It's more about discipline. More you can control your emotions then more you can earn.
It's a new world, it's a new start It's alive with the beating of young hearts It's a new day, it's a new plan I've been waiting for you Here I am....
Apr 29 2020 at 19:51
Well hello and welcome to forex new trader. I know that youare expecting great things from forex but do not expect too much. Forex is in a way a very tricky business and it requires a lof of thinking and making of accurate decisions. A lot of people depend on forex as their main source of income which means you can to but you have to know one thing. Forex will never make you rich. Trying to get rich throught it will only mean losses for you. If you go throgh the threads then at some point you will come across a thread about a ver large percentage of people failing forex. Do not let that discourage you. We can all make it in forx if we give it time and concentration. I wish you all the best in your trades and have a nice time. Ask for help if you are stuck. that is what this forum is for.
Hi, Ian! It's absolutely normal to be afraid, because this is a completely new sphere for you. First of all, you can try to trade on a demo, as it will give you a general idea of how the market works. When you will move to a real account, it will be useful to start a trading journal, as it develops discipline. The main thing is not to be afraid and set yourself a goal, which will motivate you to achieve your goal all the time. Good luck to you!
Aug 19 2020 at 13:29
You can learn forex from different sources. You can follow forums, webinars, educational article and many more. But I prefer demo account. because demo account is the most effective way of learning Forex according to me.
Aug 21 2020 at 09:12
If you want to start trading you need to have proper knowledge and experience about the market. You can take knowledge about forex from a demo account. It will help you to learn all the basics of forex properly and practically.
Oct 08 2020 at 11:02
As you are new to Forex trading, I would suggest creating your demo account with a broker that you think caters to your requirements the most.
Oct 15 2020 at 05:00
Welcome to Forex trading. You can begin with a demo account which will guide you towards learning more about trading. You can practice and prepare for the real account till the time you actually start trading.
Nov 09 2020 at 11:02
In the beginning, anyone would be a bit afraid. But as you gain experience, Forex trading becomes more interesting.
Nov 11 2020 at 08:20
It is okay to have doubts before starting with it. Once you get some idea, you might even start enjoying it. Good luck.
Rassellkarl posted:
In the beginning, anyone would be a bit afraid. But as you gain experience, Forex trading becomes more interesting.
Every new trader should learn all the basics of forex properly.
Aug 05 2021 at 13:36
Hello and welcome traders.
Aug 05 2021 at 15:03
Hi Ian! Sounds like you’re taking a realistic approach to trading. Just remember that demo accounts are available anytime you want to try something new and always account for risk management so you don’t lose much if you do lose. Good luck!
