To start Forex training for beginners there is a simple why to get started. First read babypips Forex School though once. Now you will retain 30% of the info so read it though again. Now you will retain 60% of the info so read it though again. Now you will retain 90% and you are ready to go onto the next step.
Now set up a free demo account with FXCM and you have all that you need to start trading. It will be $50,000.00 of practice money. Now you can practice what you learned on babypips Forex School
Let me warn you now you will blow out your practice account, but that is why you use a practice account and not real money. Just reset the account back to $50,000.00.
The rule is if you cannot make money with a practice account you will never make money with a real cash account.
You can use trading station or Meta trader (I use Meta trader)
Ok when do you open a real cash account? When you have doubled you practice account to $100,000.00 Now you are ready to open a real cash account with FXCM. It takes $5,000.00 to open account.
Now you can trade 1 micro lot and only 1 micro lot per currency pair at a time, but you can trade as many currency pairs as you want but only 1 micro lot at a time.
When you have increased your account $5,000.00 plus $5,000.00, now you can trade 2 micro lot per currency pair and only 2 micro lot per currency pair at a time but you can trade as many currency pairs as you want but only 2 micro lot per currency pair at a time. Each time you make $5,000.00 you increase your lot size by 1 micro lot per currency pair , so $25,000.00 is 5 micro lots per currency pair , $50,000.00 is 10 micro lots per currency pair and so on.
Now if you lose $5,000.00 you reduce your lot size by 1 micro lot per currency pair so you maintain the 1 to $5,000.00 ratio.
I use Meta trader with a few indicators
10 simple moving average
20 simple moving average
50 simple moving average
100 simple moving average
Average Directional Index (ADX)
Stochastic Oscillator (15, 5, 5)
MACD, short for moving average convergence/divergence
Oliver Velez: The Power of the 20-day MA
The Fail Safe "EMA" System 50 -100
The Mighty 200 MA
Trading With the Multiple Moving Average
How to Use Parabolic SAR
How to Trade the Average Directional Index (ADX)
How to Trade Stochastics Like the Pro's Do
How to Trade the MACD Indicator Like a Pro Part 1
How to Trade the MACD Indicator: Trade it Like a Pro (Part 2)
This is a quick start for Forex training for beginners
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