Trading without experience

[fargana]

It's important to note that forex trading is not gambling, and using gambling strategies to trade forex is not recommended. Forex trading requires a sound understanding of market fundamentals, technical analysis, risk management, and a disciplined approach to trading.

Gambling strategies, such as doubling down after a loss or taking large risks for the chance of a big payout, can lead to significant losses and should be avoided. Instead, traders should focus on developing a well-rounded trading plan that takes into account their individual risk tolerance, trading goals, and market conditions.

 

[OscarR]

Yeah, trading can be tough especially forex trading starting out without experience can lead to losses but with practice and time traders can become more successful experience is important so starting with demo trading is a good idea.

 

[Sk Sinha]

I disagree that a demo account is a 'must'. I think it is a terrible mistake, but again that is my opinion and point of view. I think demo accounts are terrible and I have never used one. Each trader needs to decide which road they want to take.

I strongly disagree with you in this regard because at first traders have to understand the market condition like how the market behaves. Is there any other way to know the market without using a demo account initially?

 

[Amy4]

It's important to note that forex trading is not gambling, and using gambling strategies to trade forex is not recommended. Forex trading requires a sound understanding of market fundamentals, technical analysis, risk management, and a disciplined approach to trading.

Gambling strategies, such as doubling down after a loss or taking large risks for the chance of a big payout, can lead to significant losses and should be avoided. Instead, traders should focus on developing a well-rounded trading plan that takes into account their individual risk tolerance, trading goals, and market conditions.

I agree that forex trading requires a disciplined and well-informed approach to trading. While there may be similarities between forex trading and gambling, the difference lies in the approach and mindset of the trader.