NEW TO TRADING

The main thing in the beginning should be the theory in order to study, understand and then begin to act, already having some knowledge.

Forex trading is getting popular day by day. You can make money by trading foreign currency. It can be a good source of income if you can learn the art of trading. To acquire the knowledge and skills you need to study a lot.

And Forex always offers us quite favorable and comfortable conditions. But for the most part, this is offered to us by brokers.

A beginner needs to learn and as thoroughly as possible, and use a variety of resources, this will provide an opportunity to become more familiar and understand this market.

newcomer always try to bring profit with no learning , its a wrong decision always , they always try to bring profit by using high leverage due to low money management.

Adribaasmet posted:
newcomer always try to bring profit with no learning , its a wrong decision always , they always try to bring profit by using high leverage due to low money management.

Yes. lack of proper learning can be the cause of your losses in this market.

for new in trading Demo is the most decent way of learning , but I also use back testing feature of Mt4 trading platform. Yes, no doubt demo is useful, but it’s a slow process! Besides, back testing is quick process! I used back testing after practicing my demo for 5 months.

Adribaasmet posted:
for new in trading Demo is the most decent way of learning , but I also use back testing feature of Mt4 trading platform. Yes, no doubt demo is useful, but it’s a slow process! Besides, back testing is quick process! I used back testing after practicing my demo for 5 months.

Yes, the demo platform is the best for new traders. Proper education can be achieved on the demo platform.

No matter how much a beginner would like to make real money faster, it is best to practice on a demo account, it will show you will not be sure of your readiness

It's very good for a beginner, you need to practice on a demo account in order to quickly switch to a real account.

Traders that start with a live account just lose all their money and give up. Those that start on a demo account have the luxury of being able to take their time and learn from their mistakes

You can open an account with a reliable broker platform and practice your trades before putting any money into it. There are demo accounts that the brokers provide which you can use to get better at trading.

For me, the most important part is getting knowledge about trading platform/broker. I think that before entering the market, you need to study all the information about the market, trading, brokers. It was hard for me to choose the right broker. I searched a lot of sites in order to find smth good. I also spent a lot of time looking for a broker and accidentally found this site Finarm, which has a whole bunch of different companies listed. It's pretty convenient and can give you some insights.

Skinim posted:
It's very good for a beginner, you need to practice on a demo account in order to quickly switch to a real account.

A demo is the best place to learn forex properly.

RobSchiz posted:

Aurisida posted:
No matter how much a beginner would like to make real money faster, it is best to practice on a demo account, it will show you will not be sure of your readiness

Yes. Proper practice can help you to make huge money.

Practicing can make you very skillful and experienced.

cashonmymind posted:
I'm interested in trading but don't know where to start. Any tips?

you need to spend a long time using forums and learn the skill and then practice on a demo account

I always advice new traders to start off from the determination why do they need trading. If they can answer this question without any illusions, like making millions, then they should start learning trading activity. Try to learn as much information as you can and try to do it chaotically. Of course, you have to determine which trading style is the most preferable to you. For example, if we speak about technical analysis and short-term trading, then try to learn everything about it. When you will gain some information, you have to find a proper broker and open a demo account. There you can start practicing and gaining experience. After you see the results of your practicing, try to trade small amounts of money on a real account and analyze your steps.

I would suggest a few things:

  1. Know the significance of educating yourself regarding the Forex market.
  2. Understand your limits and risk taking power.
  3. Understand where to stop during the trade.
  4. Control your emotions.
  5. Maintain a slow and steady pace.

cashonmymind posted:
I'm interested in trading but don't know where to start. Any tips?

First to start with, make up your mind to be devoted towards Forex learning. Do a good search on the internet to get forex videos, lessons, pdf. You get a lot of free learning materials on the web. Practice your learning on demo account. Take time to find a solid strategy that works for you. Never be in a hurry to jump into live trading. I am wishing you all the very best.