Hey guyz,
I’ve chatted with a bunch of traders lately, but most of them haven’t been able to give me clear guidance on how to dive into forex trading. I’m really looking for your thoughts on the best ways to get started.
Could you recommend any resources? I know about Babypips, but I’m looking for more options…whether it’s websites, courses, or YouTubers that really break it down. Tips or suggestions will be awesome.
Everything works and nothing works. If you understand that you are half way there.
Get the big picture, you know? Start with the basics: one country, one currency. That’s the simplest way to break it down…
Also, never use your own money. Demo trade until you are consistent, then do a prop firm challenge. When profitable on the funded account funnel that money into other investments.
Find yourself a mentor, someone who’s got mad skills and solid rep in trading.
It’s all about probability and risk management, my friend.
Stick to one strategy, keep a journal of your trades, and you’ll get to a point where you can optimize your positions.
Stay away from the noise and don’t fall into bad habits—like demo trading yourself into a messed-up mindset or just hoping a strategy will work. But seriously, nail down the basics and start practicing with real cash.
I’ve lost over $100k in the past because of those bad habits, so learn from my mistakes!
I just finished reading two books: one by Mario Singh and Trading in the Zone.
The rest has been all about grinding it out on live and demo accounts. I’ve been a full-time trader for over 4 years now! Whew, what a ride…
Pick a solid trading course and mentorship with great reviews—like Ment FX, Phantom Trading, Photon Trading, or Falcon FX—and stick with that crew until you start seeing profits.
If you bounce around between different YouTube channels or courses, it’ll just take longer to get profitable. So, zero in on one course or mentorship and roll with it…
Open a live trading account with a small amount of cash to get some hands-on experience. It’ll help you get a feel for the market dynamics and trading platforms.
Remember, trading’s just as much about your mindset and discipline as it is about having a solid strategy. Keep learning, stay patient, and be smart about managing your risks. Good luck.
Chart time… Most solid edges you gotta figure out on your own.
A good trader is gonna keep their edge close to the vest. It took me YEARS to develop mine, so why would I let it go for just $500? You’d have to offer me at least 20K to even think about it