There is no specific schedule according to which you have to work, everyone chooses for himself what is most important to him, so that you develop your strategy
Hi, I’m a beginner mulling over joining the forex community but the numbers and charts scare me. Could you suggest the right step towards developing a strategy or a plan?
You yourself must determine the trading schedule and, first of all, you must build on your strategy and trading style.
Well, it’s not that difficult as it may seem. Start by learning all about the trade and the fundamentals without which you’ll be lost and end up losing money. It’s important that you test the waters before diving right into it. So make a demo account with a reputed broker. There are many brokers like Fxview, eToro, Pepperstone, FXTM etc that offer you platforms to trade on and familiarize you with the trading environment.
I hardly believe demo accounts give a real world trading experience to the beginners. And moreover if one’s spending time and months learning tricks of the trade, why not go live trading?
Each gives advice based on their experience and practice, but you must determine for yourself how best to trade for you. And it is fashionable to make money in any case.
Agreed demo account is different from the live, but let’s just consider them the platform to help the traders trade actual market scenarios and work over the strategies they’ve planned out. Once the trader’s confident and ready to start, they can go live. And contrary to the notion, demo accounts work just fine with both amateurs and experienced traders.
If we discuss and trade a sufficiently large amount of time, we have the opportunity to understand everything more thoroughly, but in principle, you can work several hours a day, if you approach this correctly.
Welcome Cortney302 to the form! I would suggest you gain proper skill and knowledge about the forex market. Don’t forget to test your learning on the demo trading accounts. You can post your doubts here, I assure someone on this forum will definitely help you.