AhmadAli89 posted: Leverage and spread are the most talked issue on the market. Not only leverage but also we focus on spread, margin level, account types and similar other issues.
True that! Apart from leverage and spreads, margin level also plays an important role in trading. Before choosing any broker you need to check and understand all their trading conditions and their offerings.
It takes time to fully comprehend forex trading. It is preferable to concentrate on your studies at this time. Upgrading your knowledge and skills is the solution to all of your problems. After gaining the necessary knowledge and skills, you will be able to read charts and predict the market.
My advice, with draw everything from your broker. Half of this money, take out as cash and burn it. The other half spend on your family. At least that way some of the money will do some good. If you leave it all in your broker, you will soon lose everything
Anner posted: Forex is very complicated... This is my opinion....
You’re right. Indeed forex trading is a complicated and risky venture. It can undoubtedly appear to be very difficult at first due to the plethora of knowledge that you will have to learn. It is simple to move forward once you get familiar with analysis, forex terms, and market concepts.
savina_004 posted: Hi! I am new here, have read many books, and watched a video related to forex. can anybody advise me on the best forex trading strategy?
Sure. Roughly 98% of retail traders lose ALL of their funds within a couple of months. There are many reasons for this. In a nutshell the retail FX market is setup to clean you out. From online teaching resources to everything broker related (account managers through to metatrader server tools). Most ppl you'll read on here are still trying to figure it out. I would say good luck but honestly you need a lot more than luck.
Lswilliams posted: Hey all, I'm new to forex trading and I'm just looking for some advice and guidance, I'm Lewis and I'm from the UK and currently a final year student (I study film and philosophy), I have no real experience in trading, I have traded on a demo account for the last couple of weeks, but I know trading for real is different, so I'm just looking for guidance or help, to help me learn the market quicker or some information I can study to improve my trading skills. I will attach a image of the trading I have done so far on my demo account, so far I have just been listening to the news and following what they have been saying and depending what they have been saying I buy or sell. I have no idea how to predict what the graph will be next etc I have tried but failed. Anyway if anyone can help me or give me guidance to improve my trading skills quicker that would be great.[/quote
One of the best stockbrokers I know is a photography student originally. Think about studying film, it took some time right? The rule of thumb is 10K hours to master something new. Don't be disheartened, there's huge resources on YouTube. I'd drop a link to my own channel but then the comment might be blocked. In the meantime keep your position sizes to the minimum. Don't go in for all that technical analysis stuff. The trick is risk control.