Small investment

You have to boost and cheer up your mind all the time to survive in Forex. Once you lose your motivation, you will lose your way and fell out of your track.

lauraJohnson posted:
Small or large investment doesn't matter what matters is how well you make use of it.

In order to trade profitably, you need a professional approach and a lot of human resources, such as time, effort, health, attention.
If trading does not bring such a profit that can justify the cost of resources, then this makes no sense. While a trader trades for trading, this is practice, experience gaining. As soon as a trader starts make money enough for business development this is professionalism.

However if you trade well, and have talent, but no money, then you can try account management.
But this is an even more complex process than just trading, I know this firsthand.

Forex is a decentralized market where more than 4 trillion transactions take place every day and broker works as an intermediary. But, to start nicely, try to select a regulated trading broker.

SteveFx11 posted:
Forex is a decentralized market where more than 4 trillion transactions take place every day and broker works as an intermediary. But, to start nicely, try to select a regulated trading broker.

The regulated broker gives more securely investing money in the forex business, besides it, choosing a broker that offers a low spread is more beneficial for scalping traders, I like scalping trading choose pairs such as EURUSD and other major pair with low spread.

There is an element of trust with regulated brokers. So, according to me, it is wise to go for them.

The choice has become easier in recent years, because there are a lot of companies with worthy offers. Those traders who have been trading for a long time and have a lot of experience most likely already have a list of comfortable brokers.
But for beginners it is sometimes difficult to make a choice. They can just look at more experienced colleagues, or get own experience.

Milex32 posted:
There is an element of trust with regulated brokers. So, according to me, it is wise to go for them.

I understand where this mindset comes from, but regulators don't just pay out those funds if you get burned by the broker. Look at what happened with Veracity, everyone's money got stuck and people were freaking out. Now they're closed and they were regulated. Not saying regulation is bad, just that it doesn't always provide the safety net people think it does. I think reading reviews from real people is the best indicator of safety.

Global economy analysis is needed to catch the direction of Forex market because it is a form of fundamental analysis.