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Forex training videos for total noobie?

Discussion in 'Making Money' started by ronijs, Feb 28, 2011.

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  1. ronijs

    ronijs Registered Member

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    I have some free time now, so I decided to learn forex. I hate read intsructions, or read any ebooks about that, too hard to understand. Looking for easy to understand Forex video tutorials for beginners :) What you recommend?
     
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  2. Sinatra

    Sinatra Junior Member

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    Do not recommend forex at all, lol.
     
  3. themvf

    themvf Junior Member

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    I don't know what your current situation is, but unless you have at least $25K you can lose and still enjoy life, don't fuck with Forex.

    You need at least $10G's to get in the game and all the training video is going to do is upsell you to their "Forex Money Machine That Will Make You an Instant Millionaire!"

    Back in the day, I opened an account, deposited over $10K, started reading books, read everything I could on the subject, then pulled my money out. Not for me, I'll stick to my Stocks and ETF's.

    Check this site instead:
    Code:
    http://collective2.com
    It will allow you to autotrade with other successful investors. I haven't tried it, but just found out about it this past weekend. Looks interesting.
     
  4. PitchBlack*

    PitchBlack* Junior Member

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    Need atleast 10k to start? How do you figure? There are brokers out there that let you trade with as little as a $500 deposit. Of course, you arent going to able to doing anything significant with so little capital.
     
    Last edited: Mar 1, 2011
  5. clubbs

    clubbs Newbie

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    I have heard of people on other forums who have made an absolute fortune by simply opening a mini account ($300-$500). Granted it took a year or 2 but now they set for life.

    Have a read on:
    babypips.com
     
  6. Jesperj

    Jesperj Power Member

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    Those stories comes from any money making method out there tbh
    I know someone who bought a lottery ticket on his birthday, he won 2mil $. I tried it to but it didnt work.

    Some here at BHW started with 0$ and are making $$$$. Some have spent thousands of $, and are still not making anything.

    But if it was me i wouldnt spent what i couldnt afford to lose. Forex is no where near a quick money solution, it requires a lot of attention to information out in the world that you have to adapt to and make the best out of it. Build your own theories. Its like learning a completly new language with the risk of losing money :)

    IM is a bit easier than forex :)
     
  7. themvf

    themvf Junior Member

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    Maybe things have changed in the years. Didnt know you could trade forex with that little amount.

    Nevertheless, paper trade first until you get the hang of it.
     
  8. eloquenceeee

    eloquenceeee Regular Member

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    If you need a training video, don't trade Forex.
     
  9. pant90

    pant90 Newbie

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    i defo do not recommend it it's like the unsafest money making method existing today.
     
  10. binbin77

    binbin77 Newbie

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    Yeah, total waste of time
     
  11. bizbez

    bizbez Registered Member

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    stay away from forex mate, chances you win are close to nothin
     
  12. NoirHat

    NoirHat Regular Member

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    I love how people give their input on something they have no experience with at all.
    :pat:
    I've been trading for a few years now..not a full time trader.
    You can demo trade until you get the hang of it..then brokers like
    oanda will let you deposit ANY amount and trade nickles and dimes if you want.
    The idea is to keep increasing your trades as your account grows


    i believe the collective site is a low level copy of currensee.com
    if you want a Real trade leader program, go there
     
  13. referraldude

    referraldude Registered Member

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    Forex has its own mini-market, if I'm not mistaken. Like penny stock.

    Now, on to paper trading and a little stock trick that works, but can be applied to forex, I'm sure.

    Paper trading is good if you know what you're doing. For a newbie, I'd recommend have a few K to play with this method, and it works like clockwork to bring in 36% ROI every year. May not seem like a lot, but compound interest comes into play in your favor after a time.


    • Don't play stocks alone. You don't drive a car without insurance, so don't invest without insurance.
    • Get options on your stocks when you purchase them. This way, either way the market goes (or if it does NOTHING) you can make at least what you invested back, with a little on top.
    • Set stop/loss at 10% loss, 30% gain. If the stock shoots up over 30% of its' value, the system automatically cashes you out. If you lose over 10%, the market cashes you out.
    • Pick stocks that do nothing but go SIDEWAYS, and put options on them. You know what they're going to do, so why buy options on them? Again, insurance. You want insurance if something bad happens to you.
    • Learn Japanese Candlesticks. Why? Because they're more readable at a glance than bar charts or graphs. Anybody who can read music, even at a primitive level, can appreciate the candlestick methods.
    As far as mutual funds (other paper) go, I don't touch em.

    Why?

    One of two reasons:

    1. No insurance, which means if it tanks at that measly 2-5% growth rate (which you'll never recover after fees and broker's deductions), you have no way to claim losses. They were created for "financial advisors" to make money for getting your money into one of those accounts. Think of it as a legal scam that the FTC overlooks.

    2. Banks don't lend money out unless they think they'll get a ROI (homes, refinancing, car loans, etc). Banks will also NEVER lend $ for mutual funds, but may give you $ for other investment vehicles. If a financial institution won't give you money for a mutual fund, what makes you think they're worth your time?


    Sorry for going a bit off topic, but paper trading is like diving into a shark breeding area, and having your friends dump gallons of chum on you and saying "You'll be fine!" while they're back on the yacht they bought with your "investments". As least for noobs.

    Good luck!
     
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  14. businessbira

    businessbira Power Member

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    The best way to learn how to trade forex is learning from someone who's already successful at trading it.

    Get the best coach you can afford.
     
  15. navimeister

    navimeister Regular Member

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    I understand you don't like ebooks, but still I would recommend Bill Williams - Trading Chaos Second Edition. It's actually a printed book available on Amazon and in bookstores. He has a nice approach to trading, indicators made by him are built in by default to all Metatraders.

    I have started a demo account a month ago and I am 50% up right now. I plan to trade the system for a couple more months before I put money into it. It takes about 10 minutes per day to look for trades and change existing orders (trading daily charts).
     
  16. fxzombie

    fxzombie Junior Member

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    You are absolutely right.. no one in here has any clue what they're talking about! Forex is not a mini market.. not even comparable to OTC / Pink Sheets. Around 4 trillion dollars traded daily, it's the BIGGEST market by far. You can trade demo accounts with any amount that you wish, and can easily start with hundreds.
    There are even ways to make money in forex without having any experience at all. I'll send a PM. :rolleyes:
     
  17. tonegawa

    tonegawa Junior Member

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    Hi,

    I trade forex, too.

    This is a HUGE list of free webinars (something like 700!)

    http://www.fxstreet.com/webinars/speakers/

    Choose the webinars authors you like and watch their webinars.

    They are very clear and informative.

    ;)
     
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  18. fxzombie

    fxzombie Junior Member

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    Good link! Sam Seiden especially.. he's got an amazingly simple, but proper way to looking at the markets.
     
  19. wantsuccess

    wantsuccess Registered Member

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    IMHO- you'd be mistaken if you think you need thousands to begin in the forex market...you can make a cool 1-2000 dollar profit with alittle investment of between 50-100 dollars...

    i've done it...and then it's just a case of taking your initiaL OUTLAY AND 50% OF YOUR PROFITS and re invest...or whatever % of profits your comfortable with....

    for complete newbies i'd say don't go for Forex but options trading... options trading is less to no risk and gives you as good a return on investment if not better but the key is you're not going to lose your house or become bankrupt...

    start with as little as $25...

    there's plenty of FREE guides out there...i could leave my link here but i'm sure if you do abit of research then you'll get there...hoipe it helps...

    regards,

    taz
     
  20. wantsuccess

    wantsuccess Registered Member

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    PM me if you require further clarification or any links to free material...sorry forgot to add this earlier