Hello! I’d like to start studying forex trading.
I started trading stocks on January 2019. Being in a low-volume and high trading fees in my country’s stock market, I cut my losses and stopped but learned many lessons. Still invested in stocks tough.
Last March I started trading crypto. Gained 100% after a month and a half but got greedy and now much of my gains are no more.
My wife encouraged me to try forex, so here I am. Will do a lot of study first before trading. Thanks!
First and foremost you need to learn about yourself, as emotional control is essential if you want to become successful trading FX. Greed is one such emotion, fear is another.
And FX is NOT a get rich quick scheme - unless you’re already a millionaire. It’s speculative, and most newbies lose their money. That’s the reality, not the social media siren bubble.
Give yourself six months trading on a small demo account first, and see how it goes. best of luck.
I’m new to Forex as well. Good luck to us)))
Hello there! Welcome to the forum. Happy trading.
As you have already traded stocks and cryptocurrency, you will have the basic idea of the market. You might already know how it moves. But as all these markets are different, you will have to practice forex trading on a demo account until you are sure about your skills.
It’s good to have a diversified portfolio which you could form based on your experiences. A good study is needed for sure along with constant practice.
I am sure that your stocks and crypto market experience would help you in your forex trading. But still, you have to get a basic understanding of the market.