Learning is important for beginners

[Edward Peterson]

Yes for beginners learning and study is more important than trading. On weekend they can spend by studying books, reading charts or back testing. Other than trading there are many things to do. Forex trading requires specific knowledge and skills. You won't get success until you are skilled. And learning is a long term process. You have to keep patience.

 

[Robert Hills]

If you want to trade in forex, you will have to learn all the basics of the forex. If you trade in the market without any knowledge, you will loss all of your money. I am also a trader. I am trading with TP Global FX. I learned about forex from a demo account. It helped me to understand the basics of forex. I learned how to trade, what should I keep in mind while trading. It also helped me to learn the techniques of forex and making strategy to make profit.

 

[LennyShort]

Start demo trading and evaluate your performance after every month. Most probably you will lose 2/3 demo accounts in the first month. Do not fool yourself by saying that I was not serious or I could have done this or that. Until you don’t make money consistently on a demo account, you will not be able to make money on a live account as well. In fact, making money on a live account is even tougher than making money on a demo account because of the higher spreads.

 

[willyberson]

knowledge is always important, it took 2 years, to feel sconfident to start in forex.

 

[Shallen Berry]

If you want to trade in forex, you will have to learn all the basics of the forex. If you trade in the market without any knowledge, you will loss all of your money. I am also a trader. I am trading with TP Global FX. I learned about forex from a demo account. It helped me to understand the basics of forex. I learned how to trade, what should I keep in mind while trading. It also helped me to learn the techniques of forex and making strategy to make profit.

The most important trading tool in Forex business is the spread which every trader check when choosing their broker because with certainly the lower spread helps a Forex trader for making good money. The lower spread broker I find for my trading business and the name is ForexOne who is one of the top-rated ECN brokers in the trade industry. They give low spread 0.4 pips, besides of giving fastest execution.

 

[oabona96]

Yes for beginners learning and study is more important than trading. On weekend they can spend by studying books, reading charts or back testing. Other than trading there are many things to do. Forex trading requires specific knowledge and skills. You won't get success until you are skilled. And learning is a long term process. You have to keep patience.

wonderful advice

 

[oabona96]

And trying to apply the knowlege in a demo account,using minimun lot sizes

 

[theforexarmy]

yes and may i add the younger you start the better. as a student you have a lot of free time to mess around and test the demo account and the experience you gain over the years, you will have an edge over others who got in late to the game

 

[alvarogj]

Knowledge is very important but experience too. They should trade on a demo account for a long time to test their education.

 

[nhatnam0103]

For me, start trading with small live account is much better than the demo one because it is real money even it still very small.

 

[mlawson71]

Constantly studying and practicing is important for everyone, even experienced traders, in my opinion.

 

[ricardovb3]

Knowledge is very important but experience too. They should trade on a demo account for a long time to test their education.

 

[mlawson71]

They go hand in hand in my opinion, you can't have one without the other.

 

[Txbondboy]

Does anyone recommend a youtube channel that isn't some affiliate marketing 20 year old that knows actually what trading is and can provide some actual good information?

 

[mlawson71]

I rarely watch youtube for forex instructions, I prefer written manuals.

 

[hardyjo]

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I rarely watch youtube for forex instructions, I prefer written manuals.

Youtube just has a clear explanation and watching it gives clarity as well.

 

[mlawson71]

True. To each their own. I think it depends on the person what works for them.

 

[topasbroken]

IF WE are beginner i want to tell about what can i do first think learn what and step by step about forex

 

[mlawson71]

Indeed. Take your time, don't rush the process. If you do you'd just end up losing money and wasting time.