Tremblay posted: It is very important to choose a good broker first to do proper trading. After choosing a broker, you have to practice a demo under that broker. After long 6 months of demo trading, you have to join real trading. You have to learn trading online or from a good mentor. You have to analyze the strategy with patience and move forward in trading.
Yes, a broker is the most important element in this market.
The broker helps a trader in making money from this market.
I believe that the main beauty of forex trading is that it never ends actually. There is no border at all. You can earn here as much as you can, nobody prohibits you to stay in this activity during the whole life, the matter is a proper money and risk managements. In my opinion, it's the main convenience of forex trading as well as any other kinds of tradding activity. Of course some people sometimes burn out from trading, because it sometimes can be mentally tough to handle the burden, nevertheless in these times market determines who is suitable and who deserves to stay on it further, and who isn't deserved.
Yes, of course, the broker has an important role for traders make money, they like as bridge between trader to the interbank market, but not all brokers use Direct Access Market, there are some broker called market maker or dealing desk broker, which order by the client not directly throwing to the interbank market, but held on the desk if no matches price it will requote.
The beauty of forex trading is in its wide scope of opportunities. You can get to enjoy high liquidity, flexible trading hours and if you know how to consider macroeconomics of the country, you can make some really profitable trade decisions. On the top of that, you can be your own master and work for yourself.
marcusobrien posted: The beauty of forex trading is in its wide scope of opportunities. You can get to enjoy high liquidity, flexible trading hours and if you know how to consider macroeconomics of the country, you can make some really profitable trade decisions. On the top of that, you can be your own master and work for yourself.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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