Newbie to forex - page 2
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I found that the best way to learn forex is through one on one coaching. I agree with Nicesurf that you should not spend your time searching for indicators. Tag along with someone and learn as much as you can. Learn from his/her mistakes so that you don't make the same mistakes.
From my own exp.. i must say; don't waste time doing demo.
Don't waste time depending on others. Don't spend too much time on demo. If you are serious and interested, do as follows:
1. First learn some basics about Forex & find a good trader.
2. Do demo for a week to get familiarize with their system
3. Go Live with a small amount (100$) and start trading with the smallest lots.
This way you will have real experience. Even if you loose 100$ its ok (if you don't have a mindset to loose 100$, its not worth doing forex) , by that time you must have learned a lot. Read as much as you can from every forums.
This is from my OWN experience:
I am a newbie too. I knew the meaning of Forex only in Feb 2010. March to May i was looking around for a trading platform. Finally i stick with TadawulFX (my own preference). June 1 month i learn a bit more about forex and learn how to use MT4. During this time i still couldn't digest. So i look for free signals. Subscribe to some and 90% of their signals was failure. Heart fail and then i started buying indicators. That was another scam. Finally i got fedup and put a +ve mindset and spend 48hrs reading forums. Learn as much as i can. The more i read, the more interesting it was for me. And i became independent.
I went live on July 2nd with 1000$. First two weeks, i lost 500$. Never give up. And i break even yesterday. Now am with 1050$. I spend 1 hrs everyday reading thru forums looking for extra knowledge. So far i have gone thru all the threads in this and many other forums. And now i looking forward to fundamental trading too. Forex was like an alien to me last time. Now I eat,sleep,breath Forex. Nothing interests me other than FX now.
Happy Trading.