HiddenLevelMQ posted: do not use any paid signals, waste of money, my advice find ONE method and practice it on a demo until you are at least profitable for 1 month-3months
thats all you need, I went through the journey of paying for signals and lost money, I then paid for a course which was a waste of money, I'm lucky by chance I met a man in a cafe who took the time to show me his 1 strategy and since then I aim for 50 pips a day at the minimum and have compounded my account
I think trading yourself is risky. People have emotions and those who don't even understand how to control it will lose most of the tine. I have a friend who's a good trader but he always loses at the end because of his greed to make more. My 1st financial success came from having a software trade for me. It also gave great commisssins if i brought in clients, which i did.
There are companies out there who truly want to help because their clients success depends on their success.
Having your money work for you gives you tine to do other things that one really enjoys. Life is too short to soen d most of it looking at a chart lol.
In forex you must take loss when necessarily if you see that trades already against you or you made a bad call, this is the key to moneymanagement and consistency of profits.
now i leave the live account , because market movement right now very confused and volatile , for that reason demo trading is my first priority, even though its a boring but no way right now. because trading with real balance can be dangerous in corona virus issue.
u have to find more than 1000 strategies back test them at 16 major pairs for atleast 5 years each strategy 2nd find 1000 Ea,s ( free ) and back test them for several of years then find a suitable strategy among all above and be consistent with that which also fits your nature , like if ur grid trades , scalper , long term trades , find relevant strategy and work daily on that at 16 major pairs and after 6 months u should be at a result
Youi: Don't do signals, learn the basics first and then you can consider signals but signals is never the answer if you want this to become your fulltime job. Start by learning from babypips.com, you are also welcome to PM me or find me at https://www.myownforex.guru
Those who join new trading need a lot of support. A new trader can face many problems starting from opening an account. And they need a lot of guidance and support to get rid of this problem. The basic idea I get when I join new trading is through a broker. When I started my trading carrier, I did not know about Forex. I learn the basics with the help of Eurotrader broker.
New traders need a lot of support and guidance. When someone joins new trading, they want to get an idea of the basics. They need support to get an idea of the basics. I had no idea about Forex trading when I joined as a new trader. Just then I got a mentor who taught me a lot. I have learned a lot from the broker. I have collected hell information from the broker's website.
If you are newbie and are looking for some guidance on how to start, it is best to try out babypips school of pipsology. It is one of the best resource material for you to read without having to pay for anything.
cardigan posted: If you are newbie and are looking for some guidance on how to start, it is best to try out babypips school of pipsology. It is one of the best resource material for you to read without having to pay for anything.
Agreed. Babypips course is one of the best courses to start with. Even some good forex experts on youtube are of great help for beginners. You can check them too.
i am just starting out doing a few practice runs on a demo account and learning through you tube.
Could any suggest further information and resources? Is it possible to get a coach and if so where should i look? Could paid signals be worth while?
I disagree about paying for training. The axiom, you get what you pay for holds true even in the world of forex. Meaning, if it’s free, it might be worthless. Sure there's free info on YouTube. There's also a lot of useless crap on YouTube. How is a beginner to know the difference? My mentor has brought me up to speed and turned me into a trader. He was a referral from a mutual friend. My point is, if you can verify the expertise, paying for training is definitely worth it. I most profited from having one-on-one sessions in which any and all of my unique questions could be answered. Try getting that out of a YouTube video.
I don't know what the policies are for posting referral information, but I enrolled in IFETI. The International Foreign Exchange training Institute. Of course, you don't know me from Adam, so my previous comment stands. This is just another referral from an unknown source.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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