Absolute Beginner - Forex Forum - Ask-an-Expert

#1 20th-February-2007, 03:59

Hello to all,
I would like to start trading online and have been reading about forex for a couple of days. Can somebody recommend me a good book for a newbie like me? I don't know anything about forex. I would like to understand the basics and read more about it, and hopefully in 2-3 months time start making profit.

#2 28th-February-2007, 03:32

I’ve heard of a book called Forex Trading Machine by Avi Frister. You will need to learn things like reading Forex charts and forex chart patterns first. You can also learn forex chart patterns , Fibonacci studies, Forex trendline analysis and other indicators. See how you can get the free training

GoForex · #3 2nd-March-2007, 18:40

Hi Tony,

Perhaps you could start with Bird Watching in Lion Country by Dirk du Toit:
See http://www.goforex.net/forex-trading-explained.htm for more details.

Ogurec · #4 4th-March-2007, 07:39

A COUPL
Justice must be done to “FX Advisors ”manager’s patience. It was very difficult for him to deal with me, because I had never dealt with financial markets and besides my attitude towards everything is always skeptic and I earn my money very hardly. But gradually I started to like the idea of receiving profit by using method that almost takes no time and energies.
I managed to clarify the details while meeting with “FX Advisors” company’s representatives.
I was quite satisfied by the trust management variant and though I signed the contract with the broker for 50 thousand dollars. I transferred money and communicated with my trader. We defined the plan of his actions and and I started to take care of my own business.
According the results of the first month from broker company I received information, that my profit is 2,5 thousand dollars.. “Not so big amount”- thought I, but they had notified me, that while using this kind of cooperation the profit would not be so big in comparison with self-managing contract.
In the end of the third month I increased my deposit by 8,5 thousands. Not more, but absolutely without any efforts from my side.
I thought it over and decided to open an account at the name of my wife. I explained her in general the details and she signed the trust management contract, second in our family.
According the results of the first month her profit was a bit less than my for the same period, but during second month she earned two times more than me.
So we live this way, increasing our capitals. For the time being we like it, but afterwards we’ll see.

trinok · #5 5th-March-2007, 14:32

Quote:

Originally Posted by tony_9b7

Hello to all,
I would like to start trading online and have been reading about forex for a couple of days. Can somebody recommend me a good book for a newbie like me? I don't know anything about forex. I would like to understand the basics and read more about it, and hopefully in 2-3 months time start making profit.

You can start by reading some free stuff on the Internet, and you'd be surprised how many free and valuable stuff you can find, if you know how

.

good luck!

michal32 · #6 24th-August-2007, 22:09

When I started forex trading, I lost money. A LOT of money. I was completely frustrated. Don't make the same mistake. I was a loser because I had no strategy. I was a gambler, not trader. After many courses I found that moneymanagement is not everything. I must have a profitable strategy, but it is too difficult to find it out all alone. After two years I have finally found a strategy that worked to me. I have bought this knowledge for cheap and now I make consistently more than 10.000 dollars monthly. (I started with 2000 dollars monthly before 4 months). I am living from forex trading and that's really great! Don't do the same mistake, don't waste your time like me. Find out a revealed strategy that works for you. Try google and you will find out a couple of forex strategies. But remember: don't waste your time - the "popular" known strategies will not work!

rprimer1989 · #7 28th-August-2007, 03:53

The way i look at it , you either waste time and money trying to figure the whole thing out on your own, or you hire a profitable tutor and get all the knowledge you need by trading side by side . it's just a matter of preference.

prennie0 · #8 1st-September-2007, 20:36

hey i am newbie also i need for you to tell me where i can find information on new strategy i am loosing my mind loosing money i hope you can share your strategy with me michal 32

radams04 · #9 15th-January-2009, 17:20

It does not matter how new you are in trading, try to make up your own strategy perhaps a simple one just with candlesticks and short terms indicators. I think it is better that using other strategy, everyone have different ways of learning and playing games.

janethjack · #10 15th-January-2009, 18:30

it doesn’t matter if it is a simple or a complex one. Which matters is what you obtain from it and you feel you’re taking advantage of your skills once you set up your strategy and start trading supported on it

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