Forex Trading for Beginners
If you are new to the world of Forex trading, you are likely intimidated by it. Yes, of course, there is a great potential to make big profits, potentially thousands of dollars in ROI per day. On the other hand, FX trading does of course also come with its risks, quite large ones. The less experience and knowledge you have about Forex trading, the more risk is involved. The higher the amount of risk, the likelier you are to lose money instead of making it.
That said, is just an inherent part of FX trading, and there is nothing that you can do to eliminate it totally. However, if you educate yourself on everything there is to know about foreign currency trading, and you have a good teacher to help you out, it will make life easier and trading more profitable.
Today, we want to talk about one of the best sources of education, tips, tricks, and strategies for Forex trading, particularly for newbies. There are some really great sources out there that can provide you with very simple, fast, and easy to understand Forex trading tips and strategies. Right now, we want to take a look at one of the best free online resources that can help provide you with valuable insights and tips into the world of FX currency trading.
Folks, if you are a beginner trader, and you don’t know what you are doing, you definitely want to stick around. We are about to tell you where to find the best tips and info, the easiest to learn strategies, and more.
Andrew’s Trading Channel for Forex Beginners
Before we talk about some of the best Forex trading guides for beginners that can be found on Andrew’s Trading Channel, we do just want to touch on who the teacher is and what you can find here. First off, Andrew himself is a long time trading pro who has been in the business for well over a decade.
He is a full time trader of Forex, stocks, crypto, and more, and he manages to make a very comfortable living doing so.
Moreover, what is great about Andrew’s Trading Channel, besides the fact that it contains hundreds and hundreds of free Forex trading guides and videos, all for free, is the fact that everything here is designed for beginners. Andrew does everything live on video so you can follow along.
Best Forex Trading Tips & Info for Newbies
Let’s take a look at some of the best Forex trading tips, guides, and strategy videos that you can find on Andrew’s Trading Channel.
Best 5 Minute Forex Scalping Strategy
If you are looking to invest small amounts of money per trade to minimize risk, and you don’t have a lot of time to spare for trading, then this 5 minute Forex scalping strategy is a great one to look at. Here, Andrew explains in a step by step manner how to use a 5 minute chart combined with three separate EMA or exponential moving average lines in order to make profits. As far as scalping FX trading goes, this is one of the most profitable strategies around, as well as one of the easiest to learn.
Growing a Small Trading Account
One of the biggest challenges that you will be faced with as a newbie Forex trader is limited funds. If you are just starting out in the world of FX trading, you probably only have so much money to spare. Remember people, one of the primary rules of Forex trading is that you should only trade with money that you can afford to lose.
This means that you may only have a few hundred dollars to start out with. No, Forex trading with so little money is not easy, but it is doable. In this particular trading guide, Andrew explains exactly how newbies can start with so little money, and how to grow that trading account into something substantial in just a couple of weeks.
Best AUX/USD Forex Trading Strategy
What is important to know as a Forex trader is that one of the most secure and profitable pairs to trade is AUX/USD (gold and United States Dollar).
These share an inverse relationship that makes trading this pair quite easy. As you will discover in this particular video, this pairing can be super profitable. If you want to make easy money and learn the best AUX/USD Forex trading strategy around, we recommend watching this particular video.
Best Ways to Spot Forex Entries
This final FX trading video from Andrew’s Trading Channel that we want to discuss today is this one, about the three best ways to spot Forex entries. As a newbie trader, one of the hardest things to learn is when and where to enter trades. Here, you will learn how to do just that in the easiest way possible.
Best Forex Trading Tips for Beginners – Final Thoughts
As you can see, Andrew’s Trading Channel is indeed one of the best places to get info, tips, and strategies in regards to FX trading. Everything you see on this channel is totally free, which is of course a big bonus because it means to having to spend money to make money. Moreover, if you are a newbie and you need Forex trading tips and information, this is by far the most beginner friendly source. Everything is presented in a user friendly and easy to grasp follow-along video tutorial format.
Now, what we do have to say here is that Andrew’s Trading Channel is of course not a comprehensive or full Forex education. If you are looking to learn really everything there is to know about Forex, we would recommend checking out the Income Mentor Box Day Trading Academy. No, this Forex trading school is not free, but that said, it is also where you will find a full scale, beginner friendly, and complete Forex education. This is the kind of school that turns clueless newbies into profitable full time traders.