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Where to get started with Forex?

Where to get started with Forex?

Postby guri » Tue Apr 23, 2013 3:13 pm

So I keep reading more and more about Forex. And since I like learning new things, I'd like to learn this as well.
But I've never traded before, so I have no idea where to start.

Does anyone know a website or a book that gets complete beginners into the game?
I'm talking about legit websites and books. Not those types of websites that make Forex look like a get rich quick scheme. Because I'm not dumb, I know that 99% of people lose money in Forex. And beginners probably lose 100% of the time since experience is the key to success here.

So can anyone show/tell me the basics?
guri
 
Posts: 153
Joined: Tue Jun 26, 2012 3:35 am

Where to get started with Forex?

Postby thrythwig » Tue Apr 23, 2013 3:27 pm

You're not dumb, you know the statistics and you know you can't win. I know there's a lot of buzz about it but there's also a lot of buzz about Nigerian email scams telling people they have millions of dollars waiting to be claimed, and you know those aren't believable either. So don't waste your time on forex because there are only two possible outcomes.

1. You try to learn, you put your money in, and you lose money. Bad outcome.
2. You try to learn, you don't put your money in, then you wasted your time. Bad outcome.

So why not spend your time learning about investments where you stand a good chance of long-term success? Index mutual funds, ETFs, stocks, real estate. All offer great opportunities for people who are smart and know that you have to invest for the long term.
thrythwig
 
Posts: 31
Joined: Tue Oct 30, 2012 2:29 am

Where to get started with Forex?

Postby buck4 » Tue Apr 23, 2013 3:34 pm

There are billions of forex scam sites out there.
Did you know there are some that don't even invest at all?
Oh, you see it online and in your statements, but...

Almost 90% of first time users lose money their first year out even with real brokers.
Why not just trade stocks?
And.. .binary options is the new scam of this season.
Since the news about forex scams has been out a while.
buck4
 
Posts: 38
Joined: Thu Oct 04, 2012 9:09 am

Where to get started with Forex?

Postby blaike » Tue Apr 23, 2013 3:40 pm

There are billions of forex scam sites out there.
Did you know there are some that don't even invest at all?
Oh, you see it online and in your statements, but...

Almost 90% of first time users lose money their first year out even with real brokers.
Why not just trade stocks?
And.. .binary options is the new scam of this season.
Since the news about forex scams has been out a while.
Babypips School and DailyFx websites are the best websites to get started with forex.
blaike
 
Posts: 37
Joined: Wed Oct 03, 2012 3:21 pm

Where to get started with Forex?

Postby jory » Tue Apr 23, 2013 3:50 pm

Hello Stef,

I advice you to learn the ropes at BabyPips school and some niche blogs.

Sources:

http://babypips.com/school
http://forexcrunch.com
http://pipburner.com
http://tradingheroes.com
jory
 
Posts: 151
Joined: Mon Jun 25, 2012 5:19 pm


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