However, trading on demo accounts is not done with real funds. The company that owns the demo account gives traders virtual currencies to trade with and learn as they go. It’s something like a sandbox for beginners. A no deposit bonus is a classic answer on how to trade with Forex for beginners Welcome to blogger.com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! We also have one of the largest forex chatrooms online! /r/Forex is the official subreddit of blogger.com, a trading forum run by professional traders
I made a list of resources for beginners and experienced traders alike. : Forex
advanced search: by author, subreddit Comments must be related to the question. No attempts to take the discussion off the subreddit are allowed via PM, 3rd party chatroom, etc. This includes direct links, and recommendations to watch a video, or a description of how to get to the video "look up so-and-so on youtube, thank me later".
This goes along with the rule about not taking the conversation off-site. Dropping your IG link will get you banned. You must be willing to explain your analysis and reasoning for any given chart or trade you post, or else the post will be taken down. This falls under the posting charts rule where you must provide a detailed overview and context to your trade, but specifically singles out the posting of trade 'signals' with any commercial intent.
No insults or attacks of any kind. Abusive posters will be banned. We don't care if they called you names first; report the abuse to us and we will deal with the offending party getting into a name calling spat will likely just get all parties involved banned. We don't care how much money you made or lost. Context is everything, and risk metrics matter.
General idea: Business during the week, party on the weekend. MEMEs posted during the week will be removed, and MEMEs posted on the weekends will stay up but may be removed once Monday starts. The ONLY exception is bank holidays when markets are either closed or illiquid with little trading activity.
Even if no rule was technically violated. The mods reserve the right to scrub posts, comments, and users from the subreddit in the spirit of keeping the community clean and without bias.
How to get started in Forex - A comprehensive guide for newbies Newbie self. Almost every day people come to this subreddit asking the same basic questions over and over again.
I've put this guide together to point you in the right direction and help you get started on your forex journey. A quick background on me before you ask: My name is Bob, I'm based out of western Canada. I started my forex journey back in January and am still learning. However I am trading forex trading for beginners reddit, not on demo accounts.
I also code my own EA's. I not certified, licensed, insured, or even remotely qualified as a professional in the finance industry. Nothing I say constitutes financial advice. Take what I'm saying with a forex trading for beginners reddit of salt, but everything I've outlined below is a synopsis of some tough lessons I've learned over the last year of being in this business, forex trading for beginners reddit.
I'm going to call you stupid. I'm also going to call you dumb. I'm going to call you many other things. I do forex trading for beginners reddit because odds are, you are stupid, foolish,and just asking to have your money taken away. Perhaps uneducated or uninformed are better phrases, but I've never been a big proponent of being politically correct. Put your grown up pants on, forex trading for beginners reddit, buck up, and don't give me any of this pc "This is hurting my feelings so I'm not going to listen to you" bullshit that the world has been moving towards.
Let's rip the bandage off quickly on this point - the world does not give a fuck about you. At one point maybe it did, it was this amazing vision nicknamed the American Dream. It died an agonizing, forex trading for beginners reddit, horrible death at the hand of capitalists and entrepreneurs. The world today revolves around money.
Your money, my money, everybody's money. People want to take your money to add it to theirs, forex trading for beginners reddit.
They don't give a fuck if it forces you out on the street and your family has to live in cardboard box. The world just stopped caring in general, forex trading for beginners reddit. It sucks, but it's the way the world works now. Welcome to the new forex trading for beginners reddit order. It's called Capitalism. And here comes the next hard truth that you will need to accept - Forex is a cruel bitch of a mistress.
She will hurt you, forex trading for beginners reddit. She will torment you. She will give you nightmares. She will keep you awake at night. And then she will tease you with a glimmer of hope to lure you into a false sense of security before she then guts you like a fish and shows you what your insides look like. This statement applies to all trading markets - they are cruel, forex trading for beginners reddit, ruthless, and not for the weak minded. The sooner you accept these truths, the sooner you will become profitable.
Don't accept it? That's fine. Don't bother reading any further. If Forex trading for beginners reddit offended you I don't give a fuck. You can run back home and hide under your bed. The world doesn't care and neither do I. For what it's worth - I am not normally an major condescending asshole forex trading for beginners reddit the above paragraphs would suggest. In fact, if you look through my posts on this subreddit you will see I am actually quite helpful most of the time to many people who come here.
But I need you to really understand that Forex is not for most people. It will make you cry. And if the markets themselves don't do it, the people in the markets will. Save yourself and everybody here a bunch of time - learn the basics of forex. You can learn the basics for free - BabyPips has one of the best free courses online which explains what exactly forex is, how it works, different strategies and methods of how to approach trading, and many other amazing topics. Do EVERY course in the School of Pipsology.
It's free, it's comprehensive, and it will save you from a lot of trouble. It also has the added benefit of preventing you from looking foolish and uneducated when you come here asking for help if you already forex trading for beginners reddit this stuff.
Be able to justify your reasoning. If you don't know to answer to any of these questions, then you aren't ready to move on. Go back to the School of Pipsology linked above and do it all again. If you can answer these questions without having to refer to any kind of reference then congratulations, you are ready to move past being a forex newbie and are ready to dive into the wonderful world of currency trading!
Move onto Lesson 2 below. This may come as a bit of a shock to you, but that random stranger on instagram who is posting about how he is killing it on forex is not trying to insprire you to greatness. He's also not trying to help you. He's also not trying to teach you how to attain financial freedom. Why would such nice, polite people do such a thing? Because THEY ARE TRYING TO PROFIT FROM YOUR STUPIDITY.
Plain and simple. Here's just a few ways these "experts" and "gurus" profit from you:. These are just a few examples, forex trading for beginners reddit. The reality is that very few people make it big in forex or any kind of trading. If somebody is trying to sell you the dream, they are essentially a magician - making you look the other way while they snatch your wallet and clean you out. Additionally, on the topic forex trading for beginners reddit fund managers - legitimate fund managers will be certified, licensed, and insured.
Ask them for proof of those 3 things. What they typically look like are:. If you are talking to a fund manager and they are insisting they have all of these, get a copy of their verification documents and lookup their licenses on the directories of the issuers to verify they are valid.
If they are, then at least you are talking to somebody who seems to have their shit together and is doing investment management and trading as a professional and you are at least partially protected when the shit hits the fan. Worst-case scenario you lose your account, best case scenario you become a millionaire very quickly. Seems like a pretty good gamble right? You are dead wrong. At that point you aren't trading, you are gambling.
Don't pretend you are a trader when really you are just putting everything on red and hoping the roulette ball lands in the right spot, forex trading for beginners reddit.
It's stupid and reckless and going to screw you very quickly. That means you are going to be trading micro lots, or 0. It's the best starting point for anybody. You could do mini lots at this point, which is 0.
Let's say you SL on 20 trades in a row.
How to Start Day Trading As a COMPLETE Beginner (Day Trading for Beginners 2021)
, time: 13:57How to get started in Forex - A comprehensive guide for newbies : Forex
However, trading on demo accounts is not done with real funds. The company that owns the demo account gives traders virtual currencies to trade with and learn as they go. It’s something like a sandbox for beginners. A no deposit bonus is a classic answer on how to trade with Forex for beginners Welcome to blogger.com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! We also have one of the largest forex chatrooms online! /r/Forex is the official subreddit of blogger.com, a trading forum run by professional traders
No comments:
Post a Comment