Tremblay posted: It is very important to choose a good broker first to do proper trading. After choosing a broker, you have to practice a demo under that broker. After long 6 months of demo trading, you have to join real trading. You have to learn trading online or from a good mentor. You have to analyze the strategy with patience and move forward in trading.
Yes, a broker is the most important element in this market.
The broker helps a trader in making money from this market.
I believe that the main beauty of forex trading is that it never ends actually. There is no border at all. You can earn here as much as you can, nobody prohibits you to stay in this activity during the whole life, the matter is a proper money and risk managements. In my opinion, it's the main convenience of forex trading as well as any other kinds of tradding activity. Of course some people sometimes burn out from trading, because it sometimes can be mentally tough to handle the burden, nevertheless in these times market determines who is suitable and who deserves to stay on it further, and who isn't deserved.
Yes, of course, the broker has an important role for traders make money, they like as bridge between trader to the interbank market, but not all brokers use Direct Access Market, there are some broker called market maker or dealing desk broker, which order by the client not directly throwing to the interbank market, but held on the desk if no matches price it will requote.
The beauty of forex trading is in its wide scope of opportunities. You can get to enjoy high liquidity, flexible trading hours and if you know how to consider macroeconomics of the country, you can make some really profitable trade decisions. On the top of that, you can be your own master and work for yourself.
marcusobrien posted: The beauty of forex trading is in its wide scope of opportunities. You can get to enjoy high liquidity, flexible trading hours and if you know how to consider macroeconomics of the country, you can make some really profitable trade decisions. On the top of that, you can be your own master and work for yourself.
The risk is worth it for me because I'm a stay at home mom with 3 kids. I could afford daycare off of my husband's salary to go to work, but probably wouldn't make much money and don't see the point when I can trade from home and be with my kids instead. I love the flexibility and especially not having to worry about things like sick days or planning around vacation since I can decide those things for myself. There's also the added bonus of not having to deal with people because I'm more of an introvert and have had horrible experiences with people when I used to work retail.
That is the thing about trading, you are a boss for yourself, but you are responsible for all of your results and influx of money. If you have the employer, he is responsible for paying you the salary and for supplying you with the paid work. Freedom presupposes responsibility and you shouldn't forget about it.
Forex business is one great business, this is a business where a trader will become own boss, we can trade anytime, day or night, working from home, take a risk from home, make money from home, but how to make money from trading is not easy, so better trader have main source income, so if losing money in trading, they have main income for daily necessity
There are risks and rewards to trading. Downside is that you don’t get a guaranteed paycheck for the hours you put in and can lose, whereas a regular job is guaranteed money. Still, it was worth it to me because I get to stay home with my kids, go to the baseball games, etc. without having to ask permission from a boss.
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