which amount is more appropriate for new Forex trader , it depends on how much basic knowledge he acquired including practicing, if any newcomer go thorough all basic level of trading with live experience for 6 month , i think he has the capability to reduce unfortunate losses and risk.
Beginners capital should be zero. Stick to demo for as long as possible. Then 'only invest what you can afford to lose'
Aug 21 2019 at 13:45
Idowu posted:Exactly. First: you have to understand what you are doing and what your goal is. Get general knowledge, build your own strategy, the one you understand, not the one that tells you it works. Second: practice on the demo account, take notes, learn more and understand what you are doing.
Beginners capital should be zero. Stick to demo for as long as possible. Then 'only invest what you can afford to lose'
Third: when you have a stable result in the demo account with your strategy for even 2 months, you can start with whatever amount you want.
The market is not an exact science, the market is art.
Aug 21 2019 at 14:15
Idowu posted:
Beginners capital should be zero. Stick to demo for as long as possible. Then 'only invest what you can afford to lose'
Correct! Demo is the best way of learning Forex; there is no shortcut way of learning; this is why new traders focus on only demo practice!
if you are a beginner i agree with most start with demo, and after you are done with demo, use the extra cash you have besides what you need for smooth running of livelihood and savings.
Lol I'll give it to you straight up You need a min 1k. Keep margin above 2000% avoid gold and crypto when new and have a system and a plan.
JL86 posted:
Lol I'll give it to you straight up You need a min 1k. Keep margin above 2000% avoid gold and crypto when new and have a system and a plan.
I think, crypto market isn’t mature enough to perform; even experience traders are struggling! So, new traders should avoid the crypto market for trading!
Absolutely .a beginners focus in the beginning should be more on learning the basics of forex trading rather than anything else. Starting off with a demo account is the best way as he can familiarise himself with the trading platform , its features , how to buy and sell and avoid mistakes on a real account in future. Also, demo account is a great way to test your strategies . You can put your strategy to test and see if it requires some changes to achieve your financial goal. So use a demo account for as long as you want . Once you feel confident enough , you can use a real account and demo account simultaneously to see what works how .
steve_25 posted:
Absolutely .a beginners focus in the beginning should be more on learning the basics of forex trading rather than anything else. Starting off with a demo account is the best way as he can familiarise himself with the trading platform , its features , how to buy and sell and avoid mistakes on a real account in future. Also, demo account is a great way to test your strategies . You can put your strategy to test and see if it requires some changes to achieve your financial goal. So use a demo account for as long as you want . Once you feel confident enough , you can use a real account and demo account simultaneously to see what works how .
Thanks, that’s the procedure; basically, which traders try to make money too early they mostly, lose their real money so fast!
AmDiab posted:steve_25 posted:
Absolutely .a beginners focus in the beginning should be more on learning the basics of forex trading rather than anything else. Starting off with a demo account is the best way as he can familiarise himself with the trading platform , its features , how to buy and sell and avoid mistakes on a real account in future. Also, demo account is a great way to test your strategies . You can put your strategy to test and see if it requires some changes to achieve your financial goal. So use a demo account for as long as you want . Once you feel confident enough , you can use a real account and demo account simultaneously to see what works how .
Thanks, that’s the procedure; basically, which traders try to make money too early they mostly, lose their real money so fast!
If you think Forex is a get rich fast scheme then think again. Slower learning and trading is key to success. Take time and be cautious
practice can make you perfect , but in Fx we practice at random in demo and got nothing ultimately. si, i recommend micro account for practicing.
initial capital how can irrelevant i don't know . according to me, its much important , any smart initial amount can make you more confident when trading in practical. so we cant avoid the importance of this at all.
Roberto21 posted:
initial capital how can irrelevant i don't know . according to me, its much important , any smart initial amount can make you more confident when trading in practical. so we cant avoid the importance of this at all.
Basically; new traders need to invest according to their own capacity; but of course without any hard money; it will add more headache!
Imamul posted:
practice can make you perfect , but in Fx we practice at random in demo and got nothing ultimately. si, i recommend micro account for practicing.
Basically; using big demo account looks like meaningless; because it reduces the percentage of traders concentration on learning!
the man who can make real money from here of course has most powerful analyzing trading knowledge including a reliable support from a credible trading broker.
Nov 30 2019 at 15:24
Imamul posted:
the man who can make real money from here of course has most powerful analyzing trading knowledge including a reliable support from a credible trading broker.
In trading analysis; traders need to have both type of trading knowledge; yes I am talking about the technical & fundamental analysis!
Newibies should start with demo for 2-3 weeks and then move to the real trading. But no one can say the actual amount of the first deposits, as it depends on the total newbie's net worth. The golden rule is 'don't invest more money, that you're ready to lose', so newbies should just follow it :)
New traders are advised to start with demo trading account once you excel in trading knowledge and all the technicalities you can move forward live trading and start trading with capital
Revenue is vanity, profit is sanity, but cash is king
Start with the amount that you will not regret to lose. At the very beginning, do not use leverage.
Exactly. How much amount you want to start with is totally up to you as it depends more on your financial position.Plus whatever you feel is reasonable would be a good idea as long as its not too risky. Apart from deciding on the amount, you must have a risk management strategy in mind to avoid losses.
