How to start learn forex trading
Getting started with forex (foreign exchange) trading is similar to crypto in some ways but more structured, and often more stable. Here’s a clear, step-by-step guide to help you start learning forex trading from scratch:
STEP 1: Understand What Forex Is
Forex is the market for trading currencies — like USD, EUR, JPY, GBP.
You trade currency pairs (e.g., EUR/USD, GBP/JPY)
The goal: Buy one currency and sell another, profiting from exchange rate changes
📚 Learn the basics:
What is a pip?
What is leverage?
What is a lot size?
How do currency pairs work?
Best resource: BabyPips School of Pipsology (100% free and beginner-friendly)
STEP 2: Choose a Reliable Forex Broker
Look for a broker that is:
Regulated (in your country or internationally)
Offers a demo account
Low spreads and good platform (like MetaTrader 4/5 or cTrader)
✅ Examples of regulated brokers:
IG (UK, US, Australia)
OANDA
Pepperstone
IC Markets
FXTM
STEP 3: Open a Demo Account
Practice without risk!
Use a demo account to:
Trade with fake money
Learn to use trading platforms (like MetaTrader 4 or TradingView)
Test strategies safely
STEP 4: Learn the Two Main Types of Analysis
Forex traders rely on two kinds of analysis:
1. Technical Analysis (TA) – Study price charts
Learn about candlesticks
Identify support/resistance
Use indicators: Moving Averages, RSI, MACD, Bollinger Bands
2. Fundamental Analysis (FA) – Study the economy
Track news that affects currencies: interest rates, inflation, jobs data
Follow economic calendars (like Forex Factory)
STEP 5: Understand Forex Trading Strategies
Pick one or two beginner strategies and focus:
Trend following
Breakout trading
Support/resistance trading
News trading (advanced — not for beginners)
STEP 6: Learn Risk Management
Protect your capital:
Never risk more than 1–2% per trade
Always use a stop-loss
Understand leverage (more isn’t better — it increases risk)
Keep emotions in check
STEP 7: Start Small with a Real Account
Once you’re confident in demo trading:
Open a micro account (you can trade very small amounts)
Use proper risk management
Focus on consistency, not quick profits
STEP 8: Keep Learning
Trading is a skill that takes time to master.
Recommended resources:
BabyPips.com – Full structured course
YouTube channels: No Nonsense Forex, The Trading Channel
Books:
“Currency Trading for Dummies” by Brian Dolan
“Trading in the Zone” by Mark Douglas (for psychology)
Apps: Investmate, MetaTrader, TradingView
Want a step-by-step learning schedule (e.g. Week 1: Learn basics, Week 2: Practice strategy)? I can create one for you!