How to Start Trading Forex in 2020

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How to Start Forex Trading in 2020… This is one of the most common questions i get asked over social media. I totally resonate with this because towards the back end of 2016 when i first starting my trading journey, there was a lot of scattered content online and it was hard to know what route to take, who to learn from amongst many other questions that i’m sure you have too. Hopefully this video is going to provide the value that you need coming into the trading space, along with my own personal tips and tricks starting out in forex trading.

Timestamps:
1. Get into a community of like minded traders: 00:53
2. Adopt a Trading Strategy/Style that fits with your Personality: 04:20
3. Open up a Demo Account: 06:08
4. Risk Management: 07:17
5. Backtesting the Trading Strategy: 08:30
6. Creating a Trading Plan: 09:52
7. Treating Trading as a Business: 11:05
8. Hard Work: 12:11
9. Perspective: 13:25

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📈The Best Trading Platform:
https://tradingview.go2cloud.org/SH3oQ

💭Focus:
https://brain.fm/michaelbamber

🐦FalconFX:
https://falconfx.co.uk

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📱Join the IG community
http://instagram.com/michaelbamber

——–

📗Books
➢ No.1 Trading Psychology: https://amzn.to/2mfVYFf
➢ Psychology: https://amzn.to/2Limc4W
➢ I’m Reading This: https://amzn.to/2Av1hYv

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🎵Music
Track: TULE – Fearless [NCS Release]
Music provided by NoCopyrightSounds.
Watch: https://youtu.be/9rujCfYXhQc
Free Download / Stream: http://ncs.io/FearlessYO

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#forexforbeginners #forextrading #howtostarttradingforex

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Comments

Hayden Walsh says:

This is something that many people have different opinions about you said treat it like a business and then other will say treat it like a hobby because people don’t know what the runnings of a business is like

Stewart Harding says:

I wish I was as positive as you. I first demo traded two and a half years ago for a bit of fun, but then I didn't look at a chart again until around March time of this year.

Since then I've spent several hours everyday watching hundreds and hundreds of hour's worth of YouTube videos. I've created nearly 35 strategies and the last 6 or 7 have all proven profitable and I just backtested one tonight, which is as close to the Falcon trading strategy as I could make it, based on what I've watched on your YouTube channel, Mark's channel and on the channel of one ex Falcon member and it produced 8 winners, 5 break evens and only 2 losses on the GBP/USD in 2015, netting me a virtual ROI of 28%.

But for some reason I can never remember how to implement my past strategies once I've moved onto a new one, even if I write the rules down. So I'm forced to try and create one strategy and to stick to that so that I don't forget it. But even when I do create a profitable strategy it always seems to be followed by some kind of false dawn and when I start demo trading it it mysteriously no longer works, or it performs significantly differently, causing me to distrust the financial markets and to start feeling like they're somehow rigged against me.

I've made my mind up that I want to be a Forex trader to supplement my music career, but I'm really struggling with the emotional roller coaster of break-throughs which always seem to turn my enthusiasm into a conveyor belt of false dawns and I'm starting to doubt my mental capacity, as I don't seem to be able to retain and process data like I used to be able to and I'm only 37, so I don't think old is an excuse I can use yet. Lol

I never deviate from my plans, or my 1% risk per trade, which is in keeping with how I used to bet on horses, when I made several thousands pounds betting on 600-650 races over the course of 6 months some 12-13 years ago. But for some reason there just seems to be an invisible barrier between success and I where trading is concerned and I don't know why.

I want to sign up to Falcon Trading Guidance, but I'm only comfortable risking £200 of my savings when I do eventually start live trading, so £97 per month is difficult for me to justify in my mind at the moment and although I do have savings thanks to an online marketing business I set up and ran for nearly 5 years my books only just about balance from the income that music makes me, so I guess the decision to join Falcon is something only I can make.

I guess I'll just have to keep plodding on and who knows? Maybe one day the false dawns won't be false any more.

In any case, thank for the videos you make Michael. I must have watched your backtesting one around a dozen times so far. At least I'm dedicated if nothing else. Lol

315 says:

i dont know if you teach elliott waves or know someone that teaches elliott waves… if you know someone, could you leave the instagram or something? i am very interested in this type of trading

MrOranje12 says:

Please, stop talking so fast!

Oscar says:

-never forget the stats: more then 95% never make it. unless you feel a fire in your belly that gets you out of bed before the alarm goes off …. don't try or at least accept that it will take you 5-10yrs. if you feel the fire in your belly and you are obsessed with this craft… probably will take you around 3 yrs if your IQ is around 114-124.

Elyor Vafoev says:

man up and show us your real results

Darsh Parikh says:

thanks for the videos man! i just discovered your channel and I am a starting trader in forex, your videos help me a lot!

OH NO says:

Great video

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