Hello… I am new to this. Can you give me some trading tips before I invest in forex market?
Read as many books about trading as possible. Get at least 10 under your belt before you make a single trade with real money. The learning never stops.
welcome to this forum , its a good place you have chosen as a newcomer , just focus on learning , always remember there is no short cut way of earning .
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Read more books about foreign exchange transactions, learn the basics of foreign exchange and the trading cycle, and you can open a demo account to practice hands before entering the gold transaction
If we want to increase the skills and our knowledge about the Forex markets then we will need to spend some time in the markets and in the real trading accounts.
Personally I would say don’t be in a rush to fund a live account.
live account could be dangerous for any kind of beginners level , because market moves at random most of the time. so be careful.
the main problem is when we trade in a demo there is no emotions and for that reason we cant focus on there at all times, this is the main reason why we got nothing from demo trading.
If you are in a hurry to fund an account, please give me the money because it is certain you’ll lose it. I don’t mean to be pessimistic, but it is the sad reality. Have you started making profit via a demo account?
the new Forex traders always try to bring profit with no learning , as a result they fall a great trouble when trading practically and at the end of the day blame this market place.
agree with you , learning is important but according to me any kind of learning level can be useless if there is no regular level of practice. so we the traders should focus on practicing besides learning.
when its all about learning issue first of all you have to trade in a demo account even though there is no real money. but of course you have to
I would suggest you to learn and to be consistent with learning. Read as much as you can and practice. When it comes to forex trading daily practice is very crucial. So, just be consistent with what you are doing and you will start seeing results.
tips doesot come for free. Practise and read what is happening in the market.
Tips for Forex Trading Beginners
- Know the Markets. We cannot overstate the importance of educating ourselves on the forex market.
- Make a Plan and Stick to It.
- Practice.
- Forecast the “Weather Conditions” of the Market.
- Know Your Limits.
- Know Where to Stop Along the Way.
- Check Your Emotions at the Door.
- Keep It Slow and Steady.