New in forex trading

as a newcomer , learning Forex now already easy actually because many source we can learn and read from these sources , yes pips is almost popular website among trader to learn Forex on school tab section , but also will very important while learn on theory also use demo account to practice .

actually making profit is not a big deal in Forex trading , the main things in there to keep consistent level which is the main challenge . anyone can make profit by one or two times.

It is not for nothing that they say that success is determined not by making a profit, but by its stability and increase.

Only a serious relationship to this area will give you the opportunity to really reach a decent level of earnings.

Quange posted:
Only a serious relationship to this area will give you the opportunity to really reach a decent level of earnings.

Yes. I completely agree with you. You have to be very serious about this business to make money from the forex market.

I would also add discipline to emotions, which also influences and distinguishes us.

you can start with learning first above all from psychology of school. go through this educational site minimum for 2 times . it will bring awesome knowledge with live experience.

RobSchiz posted:

Imamul posted:
you can start with learning first above all from psychology of school. go through this educational site minimum for 2 times . it will bring awesome knowledge with live experience.

A demo account will also be a good option to practice and learn. What you say?

Yes. I agree with you. A demo is the best option for practicing.

Demo is the place for new trader to learn about trading system. Demo is also helpful for old traders as they test their strategy on demo before going to live.

wleverts posted:
I am in Africa. completely new in forex trading. infact I know nothing on forex trading. I have been reading about automated softwares and every software has pretty bad reviews. any advices? I really wanna do this but I need an experts hand

Check out babypips and forex peace army

There are many bad EAs in the market. But some are good. You just need to find those.

As a new trader, you should focus on manual trading rather than EA.

@Sofie_Andreasen The common trait of scammers is that they will promise ridiculously high returns. It’s crucial to do proper research before committing to any expert advisor and always backtest it on a practice account. The performance of an EA on a demo account will show you if it’s suitable to use in the real market conditions or not.

My list of worst thing a newbie can do is to scalp often as this is really risky for newbie. They might get fearful and ended up existing before they profit so they will lose out that way as well. Also, if they get impulsive and depend entirely on forex for an income then they will open many revenge trades and so on which can lead to losses.

You must first select a reputable broker. After that, you must practise demo trading with that broker. You'll also need to do a lot of research and gather information online in addition to demo trading.

If you are just starting out, you can focus on manual trading first. After gaining some experience, you can move to collecting information about automated trading also. I am saying this because in automated trading, you will have to set some conditions for your program. If you don’t have any knowledge, you won’t be able to do that correctly. So, just make the most of the time you have and gather as much information as you can about trading before you build your own system.

As a beginner, one should use a demo account for a while to learn how to trade currencies. A demo trading account gives the trader a chance to trade in a live environment but with virtual money. It is a good idea to write down what one expects from the market, how certain strategies are used, etc. It trains in discipline and brings more perspective.

The forex market is volatile. It is important to understand how to make money in this market. You can always do something else if you don't feel it's right for you.

UweMoench posted:
The forex market is volatile. It is important to understand how to make money in this market. You can always do something else if you don't feel it's right for you.

Agreed, it is very important to have enough knowledge in order to get profitable.