How I can start Forex Trading?

Discussion in 'Forex' started by hardeepkaur, Aug 10, 2021.

  1. Before entering the forex market it is very important to understand how it actually works. So I would say that first, refer some good trading related books, watch some youtube channels or whatever it takes. After that, you should make a demo account and explore it so that when you plan to go live, you will know how's it gonna feel to trade in a real market.
     
    #151     Apr 21, 2022
  2. bookish knowledge is important but it can be useless without having a regular level of practice.
     
    #152     Apr 21, 2022
  3. as a practice i love mostly trade in a micro account instead of demo. thanks
     
    #153     Apr 21, 2022
  4. Riley.R

    Riley.R

    It's all about how well one is with the trading concepts. Micro helps you to manage your capital and emotions in a better way.
     
    #154     Apr 22, 2022
  5. Sim21on

    Sim21on

    I would recommend that you start with learning more about how forex trading works, that way you will grasp a better concept of that. Once you get hang of that, you can try demo trading with a good broker. That way, you can come up with a good strategy that allows you to make consistency for your profit.
     
    #155     Apr 22, 2022
  6. the demo account is really important for all kinds of trader , but we the traders cant focus on this , because there is no real money.
     
    #156     Apr 26, 2022
  7. in order to choose a good broker, you need to know what aspects to look for. There are a few like regulations (ASIC, FCA or Cysec ?). What are their spreads on major pairs and commission fees? How fast is their deposit/withdrawal process?. You should be careful so you don't fall for a scam broker.
     
    #157     Apr 26, 2022
  8. Mustache

    Mustache

    That is funny but true! If a person is just hanging onto forex trading in a hope to see the tables turning in his/her favor one day, then that’s a very bad strategy. You said 5 years, but I think if traders are incurring losses for 5 months straight, then they must ask themselves if trading is really their cup of tea.
     
    #158     May 12, 2022
  9. FahadMd

    FahadMd

    5 years is really a very long time , i think
     
    #159     May 16, 2022
  10. the beginners level always fail to choose a right broker , because beginners have very low trading experience.
     
    #160     Jun 29, 2022