What are the most important things to learn in forex?

Beginner Questions
1

As a beginner, what are some of the things I should learn and focus to be better at trading?

2

Man, loaded question! Ha. You’ll get lots of good answers I think. In no order:

  • risk management, how to set your position sizing and stop loss
  • learn price action. I think you get more benefit early on learning that topic than trying to just learn “everything” all at once
  • figure out how to identify the kind of market you’re in, trending, ranging
  • Find a system or strategy early on, that’s good for the current market, and just trade the rules outlined, be very strict, using a demo account. Do that for a couple months.
  • ask a lot of questions here!
  • do the School here if you haven’t already

Boom!

2 Likes
3

as a beginner lots of things that you have to make sure of, from all the first one ’ to start with the psychology of school of this community ’ and besides this it is more appropriate to trade in a demo account.

1 Like
4

learning is most important , no way to deny . but besides this it is more important to trade in a practice account , otherwise trading result can be useless.

5

Since you are a beginner, what @samewise says I agree with. What I wanna add to that is while learning and focusing on those things try and focus and learn yourself as well, be mindful of your actions and how you behave on different situations.

6

Money management is the most important thing in Forex. Traders mostly can’t bear profit on average because they don’t follow proper money management tactics.

7

focus 100% on stop loss skill

8

Before Starting trading in the forex market, you must understand the market and its structure. Here are some important things to learn in forex:

  1. Understanding currency pairs and how they move to each other
  2. Familiarity with technical analysis and chart patterns
  3. Knowledge of fundamental factors that affect currency values
  4. Risk management techniques
  5. Patience and discipline in adhering to a trading strategy.
1 Like
9

Do you think it would be more beneficial to new traders to stick to 1 or few instruments and learn more about what affects its price? Or just try to find Entry points checking many different currencies / instruments?

10

The most important things to learn in forex include understanding currency pairs, technical and fundamental analysis, risk management, and trading psychology.

1 Like
11

The most important things to learn in forex include understanding the mechanics of currency trading, technical and fundamental analysis, risk management, and developing a solid trading strategy. Additionally, it is also important to have a good understanding of global economic events and their impact on currency markets, as well as the regulations and safety measures of your broker. Furthermore, having a good understanding of the trading platform you are using, and the tools and features available, and being able to manage your emotions and stay disciplined is also crucial for successful forex trading.

12

I think, that trusting into yourself is one of the most importat thinks. If you feel confident - you will succeed for sure!

13

Yeah, demo accounts really help, I also find it a good way to practice.