Trading is The Beauty of Forex

Getting started

You can get started right away without money and without having any idea what you are doing. To do this - you open what is called a demo forex account. Your goal is to build a sustainable track record of successfully trading with fake money. Once you have done this you will be ready to try trading with real money.

In reality, as you're walking toward that real airplane for the first time, your heart will be pumping and you will be scared. Likewise when you are about to pull the trigger on your first real money trade your heart will be pumping and you will be scared.

Flying a plane for real and trading forex for real are having some similarity in some way:

1. If you are reckless flying the plane you will get yourself killed. If you are reckless trading forex you will lose all your money
2. Flying entails taking off, obeying the rules of safe flying, and landing safely. Forex trading entails entering a trade, controlling your risk, and exiting safely.
3. When flying an airplane your success requires you get all three (takeoff, safety, and landing) right. In forex trading your success requires that you get all three (entry, risk, and exit) right
4. The best pilots always put safety first. The best forex traders always put safety first.

Flying a plane and trading forex for real are different in one key way

1. To become a pilot there is government mandated formal education and professional training requirements; as a result of this formal education and professional training, few pilots crash and burn. To become a real money forex trader there is no government mandated formal education and no professional training requirements; as a result, almost all forex traders crash and burn

Technical tools I use

I love trading. I like to trade everything from one minute charts to daily charts. The technical tools I like best are proposed in CodeBase (for free to be used) and they are the following:

1. Simple moving averages
2. Range breakouts
3. Momentum breakouts
4. Swings
5. Fibonacci retracements
6. Gartley patterns
7. Candlestick patterns
8. Bar reversals
9. Correlations
10. Daily high and low

There is plenty of free information about all of these free technical tools available on MQL5.COM portal

Where do you begin?

Of course, if you are a new forex trader it takes time to figure out your niche and if you have a job you will need to choose a particular focus of your forex trading. I still think it helps to at least get some exposure to all those tools, both technical and fundamental, that work the best in forex trading, and then choose the ones you like.