Where to begin Forex. I have only Basic Idea about currency trading
- Thread starter rayan2004
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First as newbie they need learning basic education forex, so many source we can get many informtion about forex article and glosary, with basic education hence as trader will understand many word about forex and then then they need use demo account for practice in real market condition using virtual money to learn how to manage money in this arena.
Forex traders who are newbie are actually confused as they are not able to understand which type of news they must follow and what is the best recourse in their trading. This is why they are not able to make any income in their trading
I have experience only with RoboForex. So can say, here you can start trading even with small amount. And the leverage is impressive. Like swap-free accounts.
The thing is, never fully depending on your own luck. You need to dedicate yourself learning more about this business, train your trading skills in demo account and improve your trading system.
If you're willing to be news trader, you should know which new that will affecting pairs you're trading with.
If you're willing to be news trader, you should know which new that will affecting pairs you're trading with.
Many source we can learn about forex business, if still beginner they can learn basic forex education from different source, but most important I think as newbie tey better spent time to practice use demo account, this is very esdential for early preparation before start in real account, because many trader fail also because they less pay attention with practice in demo account
Yes as newbie they can use cent account for learning in real account, spent small money already worth bigger margin if compared use standart account, for learning process is good to choose cent account and trade with low risk, don't rush use big capital and better learn practice step by step.
If we want to make use of the Cent based trading accounts then we have to first learn about the Forex trading business and then use them so that we know where we are doing it right and where we are wrong
One advantage forex online trading right now, as retail trader they can start even use one dollar money, some broker offer minimum deposit only use one dollar included my broker, and choose cent account if we make deposit ten dollar hence in account trading will become one thousand pips, and this can for learning step with use smallest lot size.If we want to make use of the Cent based trading accounts then we have to first learn about the Forex trading business and then use them so that we know where we are doing it right and where we are wrong
Forex trading is such type of business that we can do this if our trading knowledge is correct and we have the opportunity to spot such trades that can give us a good income
Indeed forex business is very potential business as source of income, we can making money from forex trading unlimited, because forex market is like as land of money, but in fact to obtained good profit from forex required good ability to analyze the trend market and also as trader they need good psychology trading.Forex trading is such type of business that we can do this if our trading knowledge is correct and we have the opportunity to spot such trades that can give us a good income
Hey Lokky,
Forex trading can be a career opportunity or just an option for having extra cash. however, it requires a lot of attention to details and a trader must be educate and to have a specific strategy before jumping on to real money account.
start with learning technical analysis basics, you can find a lot of info just by google it.
Yes learning basic education is important for newbie, so many site that provided information related forex for beginner, babypips dot com is one popular site to learn forex, but also as trader they need practice to implemented basic analysis knowledge in demo account, don't rush investing real money if in demo still often fail.
do you already learn anything about forex trading. if you do not have any proper knowledge about trading ,just dont. just keep your money for any other investment suits you.
if you want to learn about forex trading, 1st step is open a demo account. most broker for example tickmill, offer unlimited demo account for practice.
Familiar yourself with the platform , and then find any good resource about trading
INvesting money in forex business is we put on risk, whnich any trader or investor might they having possibility to losing money in this arena, required good knowledge and experience before investing huge money, better spent time to learning in demo account than rush investing real money without knowledge,.
i agree, and learn a lil bit about forex trading is worthed, so we do not fall into scams out there that used forex trading niche ,. promised fixed returns , and than run away with our money.
i never saw any forex traders can guarantee any results, i have MyFXBook Autotrade account connected with Tickmill, and i never find any traders who always in profit in their trade, sometimes we loss, sometimes we made money, that is business
Yes forex business also has similarities with another kinds of business, which always involved about risk and gain, but forex included in high risk high gain and also will depending with each trader how tro manage their account, although might we reading guarantee profit on certain ads, but in fact forex trading can't guarantee stable profit because trend market always vary.
hi there,
welcome to the forex world. you can start with demo account first and practice your trading skills over there. well for brokers there are many good borkers from which you can choose one like FXCM, Hot forex, Oanda, Finpro Trading, Octa FX etc.
Hey,
As we all know here forex market is the largest market in the world infront of which even years of experience of the ace traders stand void. But don't be afraid my friend, everything that we start looks tough initially, and as we develop interest in it, we get better at those things. Similarly it goes for forex.
To learn forex following things must be kept in mind:
1. learn to analyse the markets. ( read technical or fundamental analysis books or start following such forums, get access to market updates or
watch videos regarding trading forex)
2. Open a demo account with any of your chosen Brokers. There are thousands of brokers running this business across the world. But this task is a very hard task in itself to choose a reliable broker. Therefore, you must open a demo account with 2-3 brokers so as to know about the reliability of their spreads, trading terminals, charting capabilities, latency issues etc.
3. Once you are ready to go or have this confidence to put up your first trade, start with a small amount.
Any further suggestions are welcomed
As we all know here forex market is the largest market in the world infront of which even years of experience of the ace traders stand void. But don't be afraid my friend, everything that we start looks tough initially, and as we develop interest in it, we get better at those things. Similarly it goes for forex.
To learn forex following things must be kept in mind:
1. learn to analyse the markets. ( read technical or fundamental analysis books or start following such forums, get access to market updates or
watch videos regarding trading forex)
2. Open a demo account with any of your chosen Brokers. There are thousands of brokers running this business across the world. But this task is a very hard task in itself to choose a reliable broker. Therefore, you must open a demo account with 2-3 brokers so as to know about the reliability of their spreads, trading terminals, charting capabilities, latency issues etc.
3. Once you are ready to go or have this confidence to put up your first trade, start with a small amount.
Any further suggestions are welcomed
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