Only basics are not enough for consistent profit. Forex is a professional work that requires specific knowledge and skills. That's the reason very few people are successful here. Most people treat forex like gambling. They do random trading. They do not have well defined trading system.
People take forex trading, the most difficult job lightly. They expect to make money just by entering into the market. Few days demo trading with some ready made strategies available on internet. No risk management, no emotions controlling. At the end they just complain.
For successful and stable trading, a trader must have some knowledge and experience and choose a good broker. Amarkets offers over 250 financial instruments. Otherwise, he will not be able to make money on the financial market.
Dec 28 2020 at 01:33
Learning trading is a never-ending process. The more you learn the more you will gain from the market.
Dec 28 2020 at 20:19
To make money from this market, you need to make a proper plan. Without a good plan you can not survive in this risky market.
I agree with you. Most of the time people just blindly enter and exit the market. Basic knowledge only provides an understanding of how to get started in this business.
Trading with big balance like 50k demo balance is not a good idea. You didn't say anything about risk money management policy. What's your risk reward ratio? What's your winning odds with the strategy you follow? Make your trading system well defined. And per day 5% return is unrealistic. In demo basically you have developed some wrong perception about trading.
To maintain a successful and stable trade, traders should build their knowledge and experience every day in forex and should also be able to choose a reliable and suitable broker.
Jan 05 2021 at 08:35
Once you are done with obtaining basic forex knowledge, it is important for a trader to specialize in a strategy that they can use all the time to make the maximum profits.
Jan 10 2021 at 16:49
All I can give a beginner is to learn. And the first knowledge a beginner needs to understand is the importance of discipline in stock trading. In my opinion, beginners should start precisely with systemic trading, and not with trading at random, as is usually the case.
Jan 10 2021 at 19:44
Every new trader should practice properly before entering into the real market. The best way to learn forex properly is the demo account. almost every trader starts their career from a demo account.
'Basic knowledge in forex would only be useful in the demo account, to start live trading a trader should have a strategy in mind and a risk management plan.
There will be no profit just by trading with basic knowledge, which is why most beginners fail in forex.'
There will be no profit just by trading with basic knowledge, which is why most beginners fail in forex.'
Jan 21 2021 at 09:40
Yeah, I really don’t understand why people do that. I can never look at forex as gambling. It requires so much knowledge and skills.
There is a general understanding of what the forex market is and how it works, but this is not enough for trading, you need to go deep and study in many details.
Jan 21 2021 at 11:05
investment is not a big deal in Forex trading, the main deal is to keep survive successfully in there , because most of the traders become loser from this trading place.
Jan 25 2021 at 12:10
Basic knowledge helps you to understand the gateway of the market, with time you need to update yourself which pair is performing better and how the real financial health of the respective economies. I prefer to analyze the pairs before trading. Only your intellect will help you to survive.
Yes, Absolutely right!
For successful and stable trading only basic knowledge is not enough. Trader must have real trading experience to understand how the market works and how to pull wealth from it.
For successful and stable trading only basic knowledge is not enough. Trader must have real trading experience to understand how the market works and how to pull wealth from it.
If you do some research you will find that there are good and free ebooks that can really help a newbie trader with the basics of forex trading. Website tutorials is what most traders seem to prefer as their source of knowledge but there are alternative available like these forex books if you can afford to get one.
Feb 02 2021 at 12:13
There are lot of learning sources in the internet. But I think YouTube is the best sources to learn trading.
