How do I into forex?

>>1654187
1. open an account with a forex broker, and deposit funds
2.???
3. profit

>>1654187
babypips.com/school

Any tips for beginners? I've spent about 3 months by now playing with demo on iq options creating some more or less profitable bot, no luck tho.

Learn Price Action and Volumes (of Forex Futures) reading (OrderFlow, TapeReading..)

And backtest everything.

Or always you can invest in traders for a fee in this FCA (UK) Regulated Broker.

https://www.darwinex.com/home/investor?ac=BQYNJ7LpGNkc%2F1zPIbAN%2FA%3D%3D

learn candles and stick with indicators that you can read well and have worked consistently.

i started with forex 4 years ago. learned technicals. developed a system over 2 months. refined it for 4. tested it and myself for 1.5 years. traded it with real money for 1.5 years after that. just before this past summer i started with futures. its far less expensive. $5 for 1 contract roundtrip. whereas forex was $15-20 for 1 lot roundtrip. because of that forex was more hardcore. you have to be extra right and wait longer to be in the money.

take advantage of replay of old data. i wasted those training years doing it live. you can do years worth of demo trading in months and test yourself in a much shorter time-frame.

Forex is a freaking scam.
For one the volatility and gains are a joke. That's why you see all these propagandists like OMG YOU CAN MAKE MILLIONZZZZ WIFF FOREX!!! so that a bunch of n00bs come in, increase volatility for the pros and get fleeced for their hard earned money.

With stocks, your stock may go up several dozen cents or even dollars in a single day. With the major currency pairs, they go up like 1/10 or 1/100 of a cent lol. Maaaaybe 1¢.
(yes i know there's excepts like USDJPY

This means that you require massive leverage, which you have to pay interest on and are completely screwed if you don't know how to manage risk properly.

Plus you don't actually own any foreign monies. Like if you buy USJPY (US-Japanese exchange rate), you dont actually get Japanese yen to buy manga on Amazon.jp

And the biggest scam of it all is that, unlike the stock market, there's no central place for prices. So prices can vary between different brokers.

I'm not saying you can't make money. I knew a guy who made sometimes $10,000 a month doing forex full time but overall it's a scam.

Just the fact that you're dealing with 1/10th of cents is enough to show what a joke forex it.

>>1656055
>Plus you don't actually own any foreign monies. Like if you buy USJPY (US-Japanese exchange rate), you dont actually get Japanese yen to buy manga on Amazon.jp
explain?

>>1656148
Hmmm to try to make it as simple as possible, let's pretend that Forex is kinda like stocks.

So let's say that you want to trade the dollar-yen rate and let's say that $1 = ¥5.

When you trade USDJPY, you don't give your broker 1 US dollar and you receive 5 Japanese yen.

What actually happens is that you trade the symbol. So say (again pretending like it's a stock just to make the example easier) you buy one USD/JPY and the exchange rate goes from 5 ($1=¥5) to 10 ($1=¥10) and you sell, you just made $5.

So you never actually got ¥5.

Just pretend like you're trading a stock symbol, except that you don't really get anything unless you profit (then you get dollars or w/e your base currency is)

Hope this helps...

You can actually see a live trade here to see how it works:
https://www.youtube.com/watch?v=8QDeIcMLRjc

Disclaimer: I have no idea who this guy is

dont. cmc trading in nz is free setup there. no capital gains fuck your country :D

>>1656055
get a hold of yourself. its a market like any other. lol @ scam. the movement doesnt mean shit.

>>1656055
My boy, you obviously don't know what scam means.
People who are ignorant and fuck up the trades they make by their own mistakes are not a scam.
People who take the time to learn actually make money. But that means learning and adapt from mistakes.
Hurdur I loose money so it's a scam

>>1654187
Start with automated binary: https://youtu.be/lNbesLS68GE

Easy and low minimum deposit