How do I enter the market@?
You need to gather all kinds of basic knowledge about forex trading before entering into the market.
Have you made an effort to figure this out yourself? What steps have you taken to learn?
Find a brokerage company.
Make a registration.
Find out what the Forex market is. The only way to trade the market is through a retail broker. They have different platforms like Ctrader or Metatrader4. I use Tenkofx mt4. So get a demo account, and enter the market with virtual money to see how it works. Once you have installed the mt4, go to youtube and search how to register and place a trade. Follow the youtube video tutorial.
In case, you have not figured it out yet. You should, first & foremost, go through Learn Forex Trading at School of Pipsology - BabyPips.com. Once you are done with it, you will have a quite clear picture of how to proceed. All the best.
to enter this market place not a tough game but honestly speaking to survive in this trading place is a very complicated issue , need a long time patience with good knowledge and experience.
Do not be afraid of anything. This is an ordinary business. There are certain laws and rules here. But you can definitely cope with it.
With a position.
First of all,go through the Education section here on Babypips. Second, forget about trading on a live account anytime soon. Any beginner needs extensive trading on a demo account to grasp - to the point of it becoming a reflex and not something that they have to consciously think about - the basic ideas behind trading. Once that is done it’s usually a good idea to move onto a live account, but a live account that is micro or cent account - i,e. an account where the sums being risked are tiny, and then gradually increase one’s investment.
Learn, demo, practice. Learn demo practice. Etc. etc.
When you’re profitable demo trading, go to a live account but keep risks a small percentage on every trade of your account capital.
You can start with some simple technical analysis strategies so that you can try it on a demo and see what happens.
And be sure to read about trading psychology so that you don’t put yourself under a lot of stress from the first days.
i totally agree, though, also set up a small account along with. also, read as much as you can, sometimes you’ll see brokers and many websites posting trade reports, those can be very helpful in learning how to analyse data.
You should have a very strong trading plan. Try to master the use of indicators, at least any 2 of them. See which one gives you best entry/exit signals. You can use a demo account to see what works for you.
You need to gain all the knowledge related to forex trading. Then register with a regulated broker, create a demo account and start virtual trading first.
Yes, that’s a good way to do it. Practising on a demo is a safe way to see where the trade is going otherwise everything gets risky.
Understanding how trading can have an impact on the mind and how emotions prove disastrous for trades is important. About demos though I’m not really sure. I find them useless and no good comes out of them. It might be more helpful to try out strategies on a micro account.
First learn about the market as much as you can and then start with demo trading. Find a strategy that works for you and test it for a good amount of time before you think of going live.
Technical analysis must be practiced from the start. One must understand fully the use of at least 2 technical indicators. It is better to combine it with the fundamental analysis for good results. I’m working on some demos with XM and Fxview and they are my go to brokers for trying out any strategy. Probably because I’ve made some sweet profits on their platforms.
I disagree with you. Maybe you’re not scared of losing your trade but I am. Demos have saved my trade so many times.