Steps For Beginners

[maxinger]

step 1 : Learn lock picking
It will not cost much.
But you have to spend thousands of hours picking locks

step 2 : Learn to trade


If you find it very difficult to pick the lock,
then you will be mindful trading is going to be very difficult.

 

[Marcos]

It is important to have a properly written trading plan. It works better than what you wish to do. Mention each and every step that you would be taking along the way.

Well said, this is something i realised really late. To be successful in forex, we have to really alert and informed about little things. A trading plan is such a guiding light.

 

[kroxobor]

I see alot of talk about what strategy, what news service, what charting platform should I use when I begin?

The truth is, while all of these do come into play there are more important components to getting started trading which can allow you to have a better foundation to build a career off of in this industry.

What are some tips you would give to a beginner, or yourself if you had to start from the beginning?

Understanding what can be your advantage - speed, skill in interpreting financial or macroeconomic data, etc. The biggest problem is there is no exhaustive guide what to learn, internet is full of information but there is a lot of crap, advertising, useless or obsolete strategies like based on technical analysis. It takes a great deal of time and common sense to filter out noise.

 

[Lokom]

Refine your trading plan carefully enough to be able to act and avoid mistakes

 

[Geffry]

Refine your trading plan carefully enough to be able to act and avoid mistakes

I agree, That's the best way to keep discipline and know when to enter and exit your trades.

 

[Coner1980]

Learning is very important and you must learn about using different techniques to become successful. It is never useful to start trading without knowledge and skills.