Things to know before you start Forex Trading

So you want to learn forex, huh? There are a lot of myths and misconceptions everywhere on the internet. The things I have to say will shock most of you but this is the raw truth. So if you are interested in learning forex close MT4 turn off your phone and pay attention you need to hear read this.

So you have stumbled on Youtube videos and Instagram posts with flashy cars, houses, jets, the whole nine (9) yards. People throwing cash around claiming they got it from trading forex. Or was it that friend telling you how awesome it to make money trading forex and all you need is a phone and an internet connection? which was it?

The Truth

It is very agonizing to see people being misled but people are so gullible these days. It reminds me of a back in the day cartoon. When they would tie the carrot on a stick, sat on the donkey, and the donkey would chase it. It’s the same situation the only difference that you are led in a hole. Many of you will fall prey to these tricks, following the money and cars headed straight for the hole.

So let me get you started on the right foot. If you are looking to make some money right now please go and find a job. If you want to quit your job or leave school please don’t do it just yet. You won’t make money out of the box, it will take discipline and perseverance it will probably be one of the most treacherous journeys you will ever take so if you are not ready please go sit at the back. It took me four (4) years before I started seeing profit so if you are not ready for that please rethink forex. I know it doesn’t matter what I say some of you still going to give away your money.

Starting your Forex Journey

Firstly, if you are in school or you are still working you can still start your journey. You can easily fit forex in your lifestyle whether school or work and I will tell you how. Realized I said Forex Journey and not “money” that’s because it is going to take you some time. I know you have heard it a million times that Forex is about controlling your emotions. I won’t go into that in this post but it is true. So to be in the best place mentally is conducive to learning. So please don’t quit your job or use your school fee to trade that is too much pressure to be trading under you need your mind to be pressure-free.

You don’t need to watch every single youtube video nor read every single website about forex. Just like the story of Little Red Riding Hood, there are two types of wolves you should be afraid of out there. The first wolf is the one that attempts to sell you signals and courses, you should stay far. They will squeeze every red cent out of your pocket. The next type of wolf is the marketers you should be very careful they are marketers they know exactly how to blow hot hair up your skirts. They will tell you to sign up with their team at a cost and the promise of you learning forex with them but that’s BS.

You don’t need to pay a red penny to learn forex

So now that you have managed to hide from the wolves there’s only one place I would recommend you go to find shelter. That is Babypips, if you want to learn everything about forex without paying Babypips is all you need. They have a comprehensive course that goes from Kindergarten level to Graduate and that is all you need to understand everything about forex which will be a very solid foundation for you to build your strategy on. Ensure to sign-up so you can track/mark your progress.

It will take you some time before you complete the Babypips course in its entirety. So firstly test your patience and discipline to complete that course before you even start investing your own money.

When you are finished with Babypips you should’ve at least learned how to set up a demo account and even a strategy that you like. If you are thinking about trading on a phone please do yourself a favor get a computer. I would also suggest leaving all those Instagram and youtube gurus and start working on improving yourself.

This is the only start you need in forex everything is in one place and most of the courses out there were copied straight from Babypips. When you have completed the course you are now at the next level of your trading career and that is finding a style of trading that fits your personality and lifestyle. Stay tuned more coming.