Please teach me how to trade forex

[Sbuder12345]

Anyone who can teach me how to trade forex because I have been blowing accounts now I want to learn

 

[Pich]

Anyone who can teach me how to trade forex because I have been blowing accounts now I want to learn

Everything you need to know is available on the web bro. Just have to do some research on this

 

[Hoper]

There is too much information on the internet. It is often difficult for a beginner to find useful information among a huge amount of unnecessary and useless information.

 

[Charles Agustin]

You need to practice your demo! If you follow a wrong person in trading, so it’s quite natural that you will be mistaken. So, traders should develop themselves step by step in a legal and legit way. Forex wants discipline and traders should bear it in mind. Traders should note their lacking and work on it to recover those lacking.

 

[pippin]

Anyone who can teach me how to trade forex because I have been blowing accounts now I want to learn

Start from some basic tutorial like babypips or FPA guide and then start to trade, if any sticking points arise you simply look for a help that answers your specific question. That would be far more productive than asking how to start from a scratch, nobody will teach you.

 

[Frank333]

Anyone who can teach me how to trade forex because I have been blowing accounts now I want to learn

I think the best first lesson would be to understand why you blow accounts. Go over your previous trades. Understanding this will definitely guide you in the right path. I first learnt from babypips and progressed my way from there. Tried a few strategies along the way until I settled for one that became profitable. There is a lot of strategies and courses online, but you have to sift through them to find one that resonate with you. Hope this helps.

 

[Frank333]

There is too much information on the internet. It is often difficult for a beginner to find useful information among a huge amount of unnecessary and useless information.

Smart money Concepts has become very popular online. You may want to start from there after you learn the basics of trading, of course. I started with babypips website

 

[mike7888]

Like others mentioned. You need to figure out the reason for that first. The strategy you're using is not working? Bad risk/money management? Psychological reasons? ( fear of failure, too much mental or emotional pressure etc ) ... there are many elements that we need to implement before trading successfully. Most people only focus on analyzing charts, news and risk/money management issues. But there is a lot more to it than that.

Once you get the basics that you need to start with. An effective system, and proper management of your trades and account. The rest you can overcome by experience. Most successful traders - if not all - lost tons of money before they started to see first signs of possible success.

My suggestion is to find an online trading course. There are hundreds of them free on Youtube, and you can see from people's comments how it goes, if what they're teaching is effective and works or not. Start from there. Once you get the basics right, and feel that you're ready for more. You can look for someone to teach you or more advanced courses. Free or paid. Those should teach you all the details you need to know to trade and manage your accounts. Then comes the last step, practice on demo. First, to apply what you learn on charts for better understanding. And second, to treat the demo account as if it was real, to get used to trading mindset and master trading Psychologically. Then last step before going live, is to open small real account for practice. Demo trading with real money, if possible. Once you pass this step successfully, you can open your first main trading account and start trading.

What you need to know, in my opinion : Market structure and price action ( not everything about it, only general ideas to understand how price behaves, so once you look at any chart, you would understand what price is doing, instead of seeing random movement ) . A trading strategy ( Price action patterns strategies are the best, but indicators based systems may also be effective ) learn one strategy for day trading and another for scalping, because probably you'll need both. The impact of news and how to manage it. Then risk/account management.

One last thing to keep in mind, there are many markets to trade. And they're all different even if they look the same or similar on charts. You need to find a market that you understand better than others, and feel more comfortable in trading that market. And within that market, you also may want to find a specific asset or few ones to master. For example, couple of Forex pairs, instead of trading all. I know successful Forex traders for example, who trade only one currency pair. Because they understand that one pair more than all others.

And to be honest, forums are not to learn trading. Forums are for social communication with other traders and exchange/share experience/opinions, and getting specific needs ( information - tools etc ) but not to learn trading. Because each and every trader got their own trading style that may not work for you. Being experienced in trading doesn't mean being experienced in teaching. You need to find someone who's not only willing to teach you, but most important, someone with teaching skills and experience in teaching. And that's difficult to find in forums. Not saying it's impossible. But it may take lots of time and effort that you could use better going to a better educational source to teach you personally and professionally.

 

[Hoper]

Smart money Concepts has become very popular online. You may want to start from there after you learn the basics of trading, of course. I started with babypips website

What is the concept of smart money?

 

[VargaDimwit]

It would be difficult to find a teacher here since most of us are busy with learning ourselves. It would be best if you can spare some time to check out the pool of resources on the World Wide Web and study forex trading from them. Once you get enough theoretical knowledge you can get into practical study with a demo trading account. But if you don’t like the idea of self study then you can find some proper trading courses online. But make sure to join a legit one since there are countless scammers in the forex market. Good luck!

 

[TerenceDavi]

Hello there, first of all I appreciate your interest in learning to trade. But you don’t really need someone else to teach you that. I believe most of us started trading after self study since there are a lot of free learning resources on the internet. There is a lot to learn and know about forex trading and you just need to dedicate some time to find the relevant information. You are bound to have some doubts and queries while you are learning. You can seek help and advice from this forum to clear them. Happy learning and hope you are enjoying trading if you already entered the market. All the best!

 

[Gumshoe]

Self-education is simply the best way to learn forex. There are paid courses too and you can also learn forex for free by putting your self efforts. You can find sources on the internet or you can read books to gain knowledge. Fill yourself with all the theoretical knowledge and once you’ve cleared the basics, it’s time to practise in a demo account. Learn risk & money management and also fundamental & technical analysis, they’re really important. One more thing to keep in mind is that don’t fear losses, learn how to manage them. Remain patient.

 

[Factualism]

You need to learn first before starting trading. Research and find out the best resources that can help you learn. There are plenty of sources available these days. Once you have learned enough, start to practise on a demo account and start learning the skills like risk management, money management, ability to interpret charts, etc. This will help you stay on track before starting live trading. Once you have learned and practised for long enough, you can begin to trade. There are people on this forum to help you along the way.

 

[Subfocal]

Start with going through the educational material shared in the school of pipsology. This will help you understand the basic functioning of the forex market. You will also find out how you must move ahead in the forex market to make great profits.

 

[Wordplay]

I won’t be able to teach you but I can surely help you in your learning. I am not sure where you took your first trading lessons from but if you are ready to go through the basics again, school of pipsology is what I recommend. You can also watch Karen Foo’s youtube videos to get a deep understanding of the forex market. On top of all, you have this forum to discuss your queries and get help from your senior traders. Keep a learning attitude before you try to earn.

 

[marcopolo009]

to get the basics you can go to babypips as someone mentioned above. it is quite lengthy but thorough. Once you have mastered it, you can understand what others are saying and try finding a system...

 

[Tomfoolery]

I know how it feels to blow your accounts. But that’s okay for a beginner. You would have surely noted what you shouldn’t do in your future trades. I suggest going through the school of pipsology once to clear your basics. The problem lies there.

 

[Quirky]

First of all, open a demo account and practice well. Spare some time to read about forex and trading. You can learn online or offline. These are the things which all beginners do before opening a real account to trade. We all have learned to trade this way and I would advise you to do the same.

 

[Hoper]

If psychology schools helped, then we would see a huge number of profitably trading traders on Forex. But I don't see many profitable traders.

 

[chocourl]

To trade effectively, it's critical to get a forex education. Spend some time reading up on how forex trading works, making forex trades, active forex trading times, and managing risk, for starters. There are plenty of websites, books, and other resources you can take advantage of to learn more about forex trading.