Best Forex Trading Tips for Newbies
If you are new to the world of trading foreign currency pairs on the market, you might be a little bit intimidated by the whole thing. After all, trading currencies usually involves risking fairly large sums of money and betting on which currency is going to move in what direction. With the right Forex trading tips, you can make your life much easier and more profitable.
Of course, it is a bit safer than gambling, because with the right skills, know how, and a bit of dedication, you can mitigate a lot of that risk. Today we are here to talk about the best Forex trading tips for newbies, as well as where you can find them.
Now, when it comes to being a successful Forex trader, having the right Forex trading tips in your arsenal can go a long way. The fact of the matter is that with the right info and knowledge base, trading FX currency pairs becomes much easier and safer. Of course, as a newbie, you may not know where to start, and you probably have very limited funds to work with as well.
With that said, if you consult a resource like Andrew’s Trading Channel on YouTube, you can gleam some very valuable insights into the world of Forex trading. This is where you can find all of the best free Forex trading tips, strategies, guides, and much more. Let’s get right to it and talk about Andrew’s Trading Channel on YouTube and the Forex trading tips that it has to offer beginners.
The Best Forex Trading Tips on Andrew’s Trading Channel
Before we get into look at some of the best free Forex trading tips and guides around, let’s just talk about Andrew’s Trading Channel real quick. Of course, this YouTube channel has the same name as this very website that you are reading this article on, and yes, it is that same Andrew.
Andrew is a long-time trader of stocks, Forex, cryptocurrencies, and more, and he has been in the business for well over a decade. Throughout that time, he has managed to become a seasoned Forex trading professional, a successful and profitable one.
Now, he is here to share his vast wealth of knowledge with anybody who is willing to listen. He’s got some great insights into the world of trading, and moreover, he is also the same person that is behind the Income Mentor Box Day Trading Academy, one of the most highly respected Forex trading schools worldwide.
With his YouTube channel, you get access to thousands and thousands of Forex trading tips videos, guides, tutorials, the best trading strategies, and more. Let’s move on and take a look at some the most recent, popular, and helpful guides on this channel.
Growing a Small Trading Account
In terms of the best Forex trading tips around, here you get a whole lot of them. This particular video is essential for any beginner trader to watch, as it illustrates exactly how to grow a small trading account. The fact is that as a newbie trader, you might only have a few hundred dollars to start trading with.
Now, while it is difficult when you start off with such limited funds for trading, it is not impossible to improve your position. Follow this guide to learn how to grow a small trading account into something substantial in a very short period of time.
A Stupid Mistake to Avoid
In this particular video, Andrew conveys one of the most important Forex trading tips around, to not make stupid mistakes. All jokes aside, in this video, Andrew actually loses a fair bit of money. Hey, mistakes happen to the best of us. However, even though he made a small mistake, it provides his viewers with a great learning opportunity.
Here, you will learn how to use Fibonacci to set a trailing stop loss, something that will help prevent you from suffering losses in the event that a trade goes south, just like happened here. If you want to learn how to avoid making the mistakes committed here, you should undoubtedly check out this guide.
Best 5 Minute EMA Gold Scalping Strategy
When it comes to the best Forex trading tips and guides around, this is definitely one to look at. Here, Andrew discusses exactly how to use an exponential moving average or EMA in combination with a five minute chart, in order to scalp gold. Scalping is of course when you place little trades with low risk, making this perfect for beginners.
This is the kind of trading strategy that is very easy to understand, it’s simple to master, and it doesn’t involve risking too much money either, making it ideal for beginners. As you can see from the below video, if you use this strategy right, you could end up making well over 100% in returns, or as Andrew did, nearly 130% in returns.
The Best Beginner Forex Trading Tips – Final Thoughts
As you can see, Andrew’s Trading Channel is home to some of the best Forex trading tips, guides, strategies, and more. When it comes down to it, this is the number one place to learn all about Forex trading in a way that won’t cost you a single penny.
Remember, this is a basic YouTube channel, so it is 100% free. Moreover, all of the lessons, guides, and tips videos are made in such a way that is easy for total newbies to understand, as everything is done in a step by step video format, so you can follow along with Andrew as he trades.
Now, if you do not have any prior experience with Forex trading whatsoever, it might be a good idea to go seek a basic education first. It definitely helps your chances of success if you have a firm grasp on the main concepts, tenets, and terminology involved in FX trading.
To get a fully comprehensive Forex education to provide you with the framework you need to become a professional and profitable currency trader, checking out the Income Mentor Box Day Trading Academy is highly recommended, one of them most successful and trusted day trading schools in the world.