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Forex Trading: A Beginner's Guide
/r/Forex Trading Community
Welcome FXGears' Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /Forex is the official subreddit of FXGears.com, a trading forum run by professional traders. FXGears.com hosts and moderates our chatroom, and has developed such tools as the chart bot you'll find available in chat.
Trading Forex doesn't have to be complicated. In fact, it's best to keep things as simple as possible. That's why price action trading was a great fit for me and is becoming more popular every day. This community exists to discuss Forex price action trading to include, price action strategies, key market levels, trade setups or anything else related to price action trading. Feel free to join the conversation!
Another rant about forex expectations and work ethic.
This will be another rant following my previous post about the expectations some people have when going into forex. I started trading just over a year ago. I did not go into forex thinking I was going to get rich quick. I knew it would be a massive learning curve and it may take me upwards of 5 years to make any sort of money. Because I accepted these facts before I started, I did not get frustrated at any point during my learning journey. I did not feel helpless when yet another one of my techniques failed. I didn’t quit. I knew I just had to keep going and eventually, I would see success. I also knew that as long as I remained consistent I would get there NO MATTER WHAT. You also have to want it bad. For the past year, I have woken up at 5am every single day before my rubbish warehouse job, and studied. Same in the evening. Why? Because it gives me more time to learn, and the more time = learn quicker. On my days off I literally sit all day and study/trade. A lot of people come into forex thinking they will be able to quit their job within a few months, but their effort doesn’t reflect that. If your only putting in 2 hours a week to learn it will take a lot longer than someone who puts in 20 hours a week. And enough of the ‘oh but I don’t have time for that!’ - everyone can find time, as I mentioned with myself I work 50 hour weeks but I get up earlier. Simple as that. If you truly want something you will do whatever you can to get it. To all new traders who are just starting out - accept that this may take years. Don’t get upset at other people who are seemingly millionaires after a year. They aren’t. Rant over.
So I have a new job that pays me a fair bit more than my old jobs ever did and i’m interested in looking at forex and eventually into stocks and larger investments. Wondering if you ladies have any good resources for where to start?
is it normal for parents to be teaching kids at 14 about forex and profit exchange?
so my parents were talking about that stuff for about an hour and they said ''and we expect you to be using the knowledge you will get by learning exchange rates and trading once you become 15 and start gaining profit''(im 14 btw) and after that i was just like, ''what the fuck was that all about'' so here i am asking if this is a normal thing
Hello Based in UK. Some experience in shares. My question is if I join plus 500 or another platform, do I only lose my deposit. That is does the margin kick in to stop me going into a negative balance? Obviously going to research a lot more and paper trade but can't find a clear answer quick. Cheers
I want to start forex school so to speak, I’m very interested in learning but I don’t want to waste any time learning irrelevant information. If you have any good sources or webinars where I can get started it would be much appreciated. Thank you
Hi all! I just started learning Forex trading last week and i don't have any professionals to guide me so i'm hoping i could find some help here. I'm not a very smart person when it comes to this so i apologize in advance if i end up asking pretty dumb questions.
So far i have learned about PIPs, leverage, stoploss for risk management and reading the candlestick chart. The topics in this area could be very broad so i'm wondering what are some of the other areas i should look into as well.
As a beginner, how do i know i'm confident enough to actually start trading with real money? I don't intend to jump straight into trading but i'm wondering how much time i should invest on researching and self-teaching.
Is it possible to invest as low as $10? I'm currently residing in Canada and i'm not sure which broker is the best to use.
I honestly do have A LOT more questions but i will settle for the three questions above i have for now. Would appreciate if there are any professionals out there who could guide me along. Thanks in advance! Edit: I have been approached by a couple of "traders" through private messages promoting their own websites and courses with a fee required from me. Please do not approach me for any self-promotion for your business. Thank you!
Someone I don’t know is sending me messages trying to sell me something about Forex trading.
I thought it was against the rules to try to promote or advertise your business. I looked at the policy but it didn’t say anything. This person has no posts or comments, they are just DMing me. They said: I help novice traders place trades at over 95% win rate with just 10% off their profit as my commission for helping them. You get to see your your profit as it is added to your trading account which you will be able to withdraw anytime. That’s if your interested Should I report this or just walk away?
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I'm new to the UK and I have a full time job (been working 2 weeks now). I have some American dollars (physical cash) that I want to exchange into pounds and deposit into a bank account. I have a monzo account. My question is: what is the most cost effective way of exchanging the cash? My feeling is that it would be through deposit with a bank with which I have an account? Either way, banks I have looked into are not currently opening accounts for new customers. Thank you
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