I am new to forex trading
I just wanted to know where you guys learned and also how long does it take for someone to get the hang of trading
Forex trading in a live account is like playing professional tennis. Playing tennis to earn money. How long does it take a person to be good enough to earn money from playing tennis? A number of years.
So, never start trading in a live account till you are consistently profitably on a demo account.
I learned on the internet. Almost all the books about forex trading are available online for free. Just google the name of the book plus pdf and you will most probably get a free copy of the book on the internet. The best start is to read Technical Analysis for Dummies. Just put the name and pdf. Then you also have to read a book about Japanese candles. Also available free online. Name of book plus pdf.
Then you have to open a Demo account, preferably with the biggest forex broker in the world. That would definitely be the best. I cannot give you the broker´s name over here. That is forbidden on this forum.
I have now spent more than 10 000 hours on the Demo. I am about ready to start trading live again. I lost money in the first few days of trading on a live account. Then I decided to follow the very wise advice to first be consistently profitable on the Demo, before you open and trade on a live account. Learning to trade may take you from three to five years, all depending on how much time you have available to learn to trade.
It is generally stated on the internet that 80 to 95 percent of forex traders lose money over time.
Good luck, hard learning and then consistently profitable trading.
By the way, forex traders are not all male. Many women trade too. So, it is not just us guys who trade. :-)
Just some general links for newbies -
Just for newbies (if you are new to this website for example) - it is strongly recommended to read the following articles/posts/threads -
1. User Memo
Forum on trading, automated trading systems and testing trading strategies
How to Start with Metatrader 5
Sergey Golubev, 2016.12.30 17:26
How to Start with MT5, a summary !
Sergey Golubev, 2017.03.12 08:23
MQL5.COMMUNITY PAYMENT SYSTEM
Internal payment system was initially created in MQL5.community for payment of fees to authors of Articles. But the community's life does not stay still, and plenty of services, useful for traders and implying commodity-money relations between two parties, has emerged on the web-site since the launch of the payment system:
The most popular payment systems WebMoney and PayPal are integrated for deposit and withdrawal. U.S. dollars are used as the currency unit. Eventually we implemented other ways of depositing to MQL5.community account: these are common plastic cards (CommerceGate), handy and rapid system not requiring additional confirmation (Neteller), and a solution oriented towards users from China (Netbanx).
2. How to make a search on the forum/mql5 portal
Where Do I start from?
Sergey Golubev, 2017.07.25 15:47
How to search:
How to make a search on the forumhttps://www.mql5.com/en/forum/193510
3.1. How to Start with MT5, a summary ! (incl the previous thread:How to start with MetaTrader and forex, the beginning) MetaTrader 4 Help - Client Terminal – User Guide MetaTrader 5 Help - Trading Platform — User Manual
3.2. All (not yet) about Strategy Tester, Optimization and Cloud
3.3. ASCTREND SYSTEM summary (incl 2 good EAs)
3.4. BRAINTRADING SYSTEM HowTo
3.5. PriceChannel Parabolic system (incl 2 versions of the EA)
3.6. Market Condition Evaluation (2 EAs were created)
3.8. Financial and trading videos - Table of Contents
3.9. All about Calendar tab and Macro Economic Events
3.10 All about MQL5 Wizard : create robots without programming
4. First key article:MetaTrader 5 - More Than You Can Imagine!
5. The second key article:Limitless Opportunities with MetaTrader 5 and MQL5
6. How to add the broker to MT5:
6.1. MetaTrader 5 Help - Open an Account
6.2. MetaTrader 5 Android OS Help - Opening a Demo Account
6.3. MetaTrader 5 iPhone/iPad Help - Connecting to an Account and Opening a Demo Account
9. MQL5 VPS for MT4/MT5
9.1. How to subscribe to VPS https://www.mql5.com/en/forum/187872#comment_4851530
9.2. You can move your VPS subscription from one account to another https://www.mql5.com/en/forum/172120#comment_4166892
9.3. MQL5 VPS descriptionhttps://www.mql5.com/en/forum/172553#comment_4185979
9.4. Monitor VPS https://www.mql5.com/en/forum/188920#comment_4800677
9.5. Synchronize - https://www.mql5.com/en/forum/211508
10.1. Find a Server by the Broker's Name:https://www.mql5.com/en/forum/9950/page88#comment_3981953 https://www.mql5.com/en/forum/214820
10.2. Help for beginnershttps://www.mql5.com/en/forum/214904
10.3. US brokershttps://www.mql5.com/en/forum/12423/page500#comment_4736742
11. Promotion:https://www.mql5.com/en/forum/9950/page88#comment_3982032 https://www.mql5.com/en/forum/9950/page88#comment_3982030 https://www.mql5.com/en/forum/9950/page88#comment_3982036
12. Freelance, decompilation, the rules, examples of the decompiled code:https://www.mql5.com/en/forum/203200
13. General rules and best pratices of the Forum
13.1. Thread with the discussion
13.2. Forum rules
14. The thread about threads: what's going around the forum everywhere Good thread if you are looking for something new and modern (and free one)
15. MT5, mql5, mql5.com suggestions for improvement thread
16. How to subscribe to topic or invite a person into the topic - the thread
17. I just downloaded MT5 I am not sure how to pull up Cryptos - the thread.
And the last one -
Where Do I start from?https://www.mql5.com/en/forum/212020 MetaTrader 4 Help - Client Terminal – User Guide MetaTrader 5 Help - Trading Platform — User Manual