New to Forex: Where do I start?
Hello guys, my name is Mike hope to be a regular here
, does anyone have any suggestions on where to start on forex? I know babypips.com but does anyone know any good book that teach the basics? And, a few questions to the reqular traders here if it's okay :P :
1) How profitable can forex be?
2) How much do you earn by trading forex? (I know it's confidential but to anyone who wants to answer it, thanks!)
MichaelIt is not confidential. Forex trading is not so profitable as some people expected. Of course it can be very profitable (in theory). And it is really hard work to get some pips from the market. What is why many people are trying to learn something from each other.
It is very good if you will not have any illusions about it.
Just my personal opinion.
Hello guys, my name is Mike hope to be a regular here
, does anyone have any suggestions on where to start on forex? I know babypips.com but does anyone know any good book that teach the basics?
And, a few questions to the reqular traders here if it's okay :P :
1) How profitable can forex be?
2) How much do you earn by trading forex? (I know it's confidential but to anyone who wants to answer it, thanks!)
MichaelHi Mike
welcome to wild "FOREX WORLD"
There r no limits to the amount of money you can make in trading forex, but remember 90% (average) of traders who ever trade lose their account and that 10 % actually go bankrupt.
Common Misconceptions of New Traders
They think they can trade consistently with an 80% accuracy
Hello guys, my name is Mike hope to be a regular here
, does anyone have any suggestions on where to start on forex? I know babypips.com but does anyone know any good book that teach the basics?
And, a few questions to the reqular traders here if it's okay :P :
1) How profitable can forex be?
2) How much do you earn by trading forex? (I know it's confidential but to anyone who wants to answer it, thanks!)
MichaelHi,
Forex can be profitable only if you've good proven forex system and you keep on running your system consistently...put your stop loss whenever market against you... cut your losses and let your profit run ...
The most important is DISCIPLINE ...this's what I learn from the senior trader.
Do your research continuously ...fill your brain with new data pattern everyday...turn it into your own profitable system..
I think like anyone else We can earning more money using our proven forex system 
I'm now still developing my own system
================
I found 1 post only on our forum https://www.mql5.com/en/forum
Welcome aboard Mike. Babypips.com was a good place to start. Thats where I started. The best way to learn is read as much as you can, and trial by error. I've spent a lot of time reading posts from senior members on this site (its a ton of good free information). Then I started watching the market, using different indicators, just seeing how the market behaves in general. This is a great forum full of lots of valuable information. Good luck.
Read up on Bird Watching in Lion Country.
EA Trial
Hi NewDigital,
I want to try to trade using EA, do you have a trial version for me to try?
Thanks,
WN
Hi NewDigital,
I want to try to trade using EA, do you have a trial version for me to try?
Thanks,
WNPlenty of EAs here on this forum. Just look around and jump in a demo.
FerruFx
Hello guys, my name is Mike hope to be a regular here
, does anyone have any suggestions on where to start on forex? I know babypips.com but does anyone know any good book that teach the basics?
And, a few questions to the reqular traders here if it's okay :P :
1) How profitable can forex be?
2) How much do you earn by trading forex? (I know it's confidential but to anyone who wants to answer it, thanks!)
Michael1) Forex can be highly profitable if you use COMPOUNDING to your advantage. If you can net 3 pips a day on your account ( about 3% if you have 100:1 leverage), you are on the path to riches. The problem starts when you try to go after the 100 pip gains. It's the tortoise / hair story!!
2) DO NOT CONCERN YOURSELF WITH OTHERS - FOCUS ON YOUR ACCOUNT, YOUR TRADES, YOUR SYSTEM, ETC... What others are doing is only a distraction at best.
You don't need a bunch of indicators to trade. ( I know this sounds funny coming from someone who has programmed hundreds of indicators ). But it's true!! Forget about all those SQUIGGLY LINES!!
All you need is the H1 candle chart and/or D1 candle chart. If the candle is green, trade long. If the candle is red, trade short. It really is THAT SIMPLE!! Just learn to be happy with making 3 - 5 pips. Oh yeah, you'll have to use an ECN type broker rather than a fixed spread broker.
So read through the BabyPips course a few times then start with a demo account so you learn the platform. After you are comfortable with the platform, fund the account and begin trading 1 minilot. When you make enough to buy another minilot, then and only then, should you increase your lot size.
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Hello guys, my name is Mike hope to be a regular here
, does anyone have any suggestions on where to start on forex? I know babypips.com but does anyone know any good book that teach the basics?
And, a few questions to the reqular traders here if it's okay :P :
1) How profitable can forex be?
2) How much do you earn by trading forex? (I know it's confidential but to anyone who wants to answer it, thanks!)
Michael