--- title: 'Start Forex Trading from Scratch | Beginner''s Guide for 2025' source: 'https://youtube.com/watch?v=t_oWAyowKYk' video_id: 't_oWAyowKYk' date: 2026-08-10 duration_sec: 698 --- # Start Forex Trading from Scratch | Beginner's Guide for 2025 > Source: [Start Forex Trading from Scratch | Beginner's Guide for 2025](https://youtube.com/watch?v=t_oWAyowKYk) ## Summary The video is a beginner's guide to Forex trading, presented by an experienced trader who shares his 16-year journey and the lessons he learned. It covers the basics of reading price charts, understanding support and resistance levels, and executing trades on the MetaTrader platform, culminating in a specific strategy for entering trades based on market openings. ### Key Points - **Trader's Journey and Mistakes** [00:06] — The narrator reflects on his 16-year Forex trading journey, admitting he wasted time and lost money by following the wrong path initially. He emphasizes that he now knows the simple steps and free tools beginners need to create a successful trading plan. - **Understanding Candlestick Charts** [00:38] — The video explains that professional traders prefer Japanese candlesticks over line charts. Red candles indicate a price drop, while green candles indicate an increase. Trading can be done in either direction, depending on whether you expect the price to rise or fall. - **Support and Resistance Levels** [01:08] — The narrator demonstrates how to identify support and resistance levels on a chart. A resistance level is where the price bounces off and falls, making it a good place to sell. A support level is where the price bounces back up, making it a good place to buy. - **Trend Lines and Trade Entry** [01:35] — The narrator shows a live trade where he drew a trend line from top to bottom. When the price broke through this line, it signaled a continuation upwards. He waited for the price to bounce back and touch the trend line, then entered the trade, which surged to his target of around $2400. - **Currency Pairs and Direction** [02:33] — The video explains that trading involves buying one currency against another. For example, buying EUR/USD means expecting the euro to strengthen against the dollar. If you believe the dollar is stronger, you sell the euro. This principle applies to all currency pairs. - **Trading Platforms and Tools** [04:37] — The narrator uses MetaTrader 4 in partnership with broker Triple IFX. He also recommends TradingView for technical analysis. Both platforms are free to use, and he provides links in the video description. - **Order Types and Execution** [05:35] — The video explains different order types: Market Execution (immediate entry) and Pending Orders (like limit orders). The narrator prefers sending limit orders to his VIP trading room members, allowing them time to review and decide on trades. - **Recommended Currency Pairs** [07:26] — The narrator advises beginners to focus on EUR/USD, USD/JPY, and USDCAD because they have low spreads and suitable trading conditions for successful trades. - **Complete Trading Strategy** [07:56] — The strategy involves being at the computer at 8:30 AM Eastern Time, setting the timezone to UTC New York, and using a 15-minute timeframe. Identify support and resistance levels, then use the 'Open Range with Breakouts and Targets' indicator to find entry points after the US market opens. - **Trade Entry and Risk Management** [10:09] — The narrator explains how to enter a trade: wait for a candle to close above the opening range, then place a buy order. Set a stop-loss below the wick and a profit target at a 1:1 ratio, meaning you risk one dollar to make one dollar. ### Conclusion The video provides a foundational understanding of Forex trading, from chart reading to executing a specific strategy. The key takeaway is that with the right tools and a disciplined approach, beginners can start trading successfully, though the narrator emphasizes that profits like his are not typical on day one. ## Transcript Forex trading journey if I could go back 16 years and start over. Before I won my first trade, before I bought a Porsche, and before I started building a mansion, I wasted a lot of time and lost a lot of money by following the wrong path. But now I know exactly what I was doing wrong, and that's why I can explain the simple steps and free tools any beginner needs to create a successful trading plan. Just hit the like button and subscribe to the channel, and let's start making profits. Forex trading doesn't have to be complicated. Just look at this trade I executed live in front of 2,000 traders during a YouTube live stream this week. What you see here is a price chart displayed using Japanese candlesticks. You can also display this chart as lines, but professional traders prefer candlesticks. Red candles indicate a price drop, while green candles indicate an increase. We can trade on either the rising or falling price, depending on the direction we want. In this live trade, you can see here At the top, I see how the price reacted to this level. Again, at the same level, the price reacted and started to fall. So, I drew this blue square here, which represents the resistance level because the price bounced off this level, indicating it was a good place to sell. On the other side, we have a level below where the price respected it and bounced back up. bounced back up. This tells us that this is a support level, a good point to buy. So, when we enlarge the chart and look at this specific trade, I can show you exactly what I did. I drew a line from top to exactly what I did. I drew a line from top to bottom like this. This line is called the bottom like this. This line is called the trend line. When the price broke through this line, it signaled that the trend would continue upwards. We already know that this support level was respected previously, and this was also a signal that the price was heading and this was also a signal that the price was heading upwards. So, in this trade, all I did was wait until the price bounced back and touched the trend line. I entered the trade, and then the price surged trend line. I entered the trade, and then the price surged upwards and reached my target of around $2400 right in front of more than 2000 viewers. Now, trading isn't always this easy. I've been in this field for 16 years, but let's go back a little and review some of the basics. The extra information is so I can help you execute your first Forex trade today. Now, why did you make money in that trade? Well, here I have the US dollar, and in this case, I bought the euro against the US dollar. I explained that I expected the euro to be strong, so I bought the euro against the dollar. If we go to the currency calculator now and enter $100, we'll see that $100 is currently equivalent to 88 euros. On the chart, this number constantly changes up and down because the price always moves based on supply and demand. So, in this case, we saw a significant drop in the price until it reached the support level. Therefore, I bet that the euro would rise against the US dollar. If you against the US dollar. If you 're now making a profit, let's assume the opposite: you believe the US dollar is stronger than the euro. You can trade in this direction as well. If we go back a little in the chart, we'll notice that the price has now reached the resistance level. We know that at the resistance level, we are likely to sell, so we can simply open a sell position in the same way we opened a buy position. Then you can monitor that trade and see if you can make a profit. In this case, we would be selling the Euro against the US Dollar instead of buying it because we believe the US Dollar is stronger. We actually profited from the trade based on this expectation. So, if you believe the Euro is stronger, you buy We actually profited from the trade based on this expectation. So, if you believe the Euro is stronger, you buy US Dollar is stronger, you sell Euros. This applies to other currency pairs as well. In this example, you see that the US Dollar is the first currency and the Canadian Dollar is the second. Therefore, if you believe the US Dollar is strong, you buy US Dollars, and if you believe the Canadian Dollar is stronger, you sell US Dollars. It's that simple. sell US Dollars. It's that simple. Now I will begin explaining the trading platforms and how to Now I will begin explaining the trading platforms and how to actually execute the trade. After that, I will give you a complete strategy that you can start using tomorrow morning. The platform I am using today is my real live trading account, the MetaTrader platform, in partnership with the brokerage firm Triple IFX. You can find the registration link in the video description. As you can see, I have been withdrawing registration link in the video description. As you can see, I have been withdrawing approximately $70,000 per month this year, approximately $70,000 per month this year, although I don't think you will achieve that on day one. All you have to do is go to the download page, click on download, and install. Installing download page, click on download, and install. Installing MetaTrader 4 on your device is a simple and quick process. After installation, enter your account number and the password you received from Triple FX, and you will be able to access the platform and start trading. To New Order," then select the EUR/ USD pair. For the trade size, leave it at 0.01 to 0.1, which is the minimum and most types of trading orders: Market Execution, where the trade is entered immediately upon clicking " Buy" or "Sell." Today is Sunday, and the market is closed, so I won't enter a Today is Sunday, and the market is closed, so I won't enter a trade now, but I will when it opens. Pending orders include stop orders and sell stops. As a beginner, it's trade now, but I will when it opens. Pending orders include stop orders and sell stops. As a beginner, it's start with Market Execution, where you enter the trade when the price reaches your desired level. However, since I provide these recommendations to thousands of people in my VIP trading room (the link to which you will find in the video description), I prefer sending limit orders. This means that when I saw this candle close, I wanted to enter... The trade is placed, but not at the closing price; it's at this exact level. So, when I log into price, which was 1.13054/1305, and currently closed, but what happens is that when the price returns and touches this level, the trade is activated, and then it rises to reach the profit-taking point. This way, all members of the VIP trading room have enough time to review the trade and decide whether or not to enter it. Honestly, the only additional tool or platform you need only additional tool or platform you need besides this is the TradeView platform. All you have to do besides this is the TradeView platform. All you have to do is go to TradeView.com and click "Started for Free," then "Sign Up." Registration is completely free. After creating the account, click on "Product," then "Super Chart," and there you will conduct your technical analysis. Now, if you are wondering which pairs or assets you should trade, just go to the top right corner and click on "Watch List," and you will see all the currency pairs that I personally follow and trade. I advise you to focus on EUR/USD/ USD/JPY/JPY. BUSD and USDCAD are excellent pairs to start with because the spreads are low and the trading conditions are suitable for making successful trades. Now I will give you a complete Forex trading strategy that you can apply to your chart tomorrow morning to win your first trade. I want you to be on your computer at 8:30 AM Eastern Time. Go to the bottom right of the platform and select the time zone on UTC New York. Then set the time frame to 15 minutes. We will analyze the chart together. At the bottom we have a clear support level and at the top the bottom we have a clear support level and at the top we have a resistance level. Why? Because the price at the top resists this level and falls, and at the bottom it respects the support level and bounces upwards. As you can see here, there was a strong bounce towards our support level at the bottom, so we want to buy from here. If the price were currently at the resistance level at the top, we would consider selling. It's very simple. Let's zoom in a selling. It's very simple. Let's zoom in a little. I will temporarily locate the support level. Just remember it exists. We know we want to buy from this level, so if you draw the support level again here, you will clearly see that we are at a very important point to buy. A strong level and a clear area of ​​interest for BOE. But how do we enter this trade? We go to the indicators at the top and write "Open Range with Breakouts and Targets." Click on this indicator here. My settings are as follows: 15-minute timeframe, from 12:45 AM to 12:45 AM New York time. This is the opening time of the US stock market. To enter the trade, we start by looking at this candle. It is the first candle after the US market opens, the first 15-minute candle. Then we draw a line at the top of the candle, and this represents the upper limit of the movement range. Then we draw a line... At the bottom of the upper limit of the movement range. Then we draw a line... At the bottom of the candle, which represents the lower end of the range, we then change the timeframe to five minutes and begin closely observing the candle's movements. Let me zoom in to see the details. We observe a candle that closed outside this range, from We observe a candle that closed outside this range, from top to bottom. which could be a sell signal. However, we don't want to sell because we are at a support level and want to enter a buy position. So, we wait until the candle closes above the we wait until the candle closes above the opening range, which is exactly what happened here. This is a clear signal to enter a buy trade. Now we have the opportunity to enter the trade, just like the first trade I showed you. You would want to wait for a slight price reversal, something like this, and then enter your trading position. Let's place a buy order at this level here, where the trade will be executed when the price reaches this line. We can place a stop-loss order below the wick of this candle to protect our capital and set a profit target at a 1:1 ratio. This means that if you lose the trade, you lose one dollar, and if you win, you make one dollar. This is a good way to start trading when you are a beginner. We are now trading from a support level; we have a breakout from the range. We're just waiting for a bounce; that's all we're looking for in this trade. Let's see what happens when the price drops, touches the support level, then starts to rise and reaches the profit target, achieving a fantastic $1 profit. more about it and in a more advanced way, come and watch my live streams or join my free trading room. The link is in the description. Currently, there are about 78,000 people in the room. I offer you free trades and analyses. We profited from this trade just last week. I'm thinking of joining my VIP trading room where I send more trades, learning, and analyses daily. Click the like button, subscribe to the channel, and watch this video here, and of course, watch this video here. I'll be back with you next week. All my love.