NEW TO TRADING

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.

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

Start with some of the free courses gain some knowledge then open a demo account but this will take time don’t rush into it

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.

Here are some reasons why it is highly recommended for you to practice with a demo account:
Learn and experiment with play money
A demo account mimics the actual market in real time and allows you to use play money. This gives you space to try out a number of techniques, without fear of losing your actual money.

Akasuki posted:

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.

Here are some reasons why it is highly recommended for you to practice with a demo account:
Learn and experiment with play money
A demo account mimics the actual market in real time and allows you to use play money. This gives you space to try out a number of techniques, without fear of losing your actual money.

I agree with you completely - if a person cannot be profitable on a demo, there is no way you can trade a live account without all the added pressure! You can also learn to trust your system 100% and this will help relieve a lot of pressure on a live account.

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.

There is so much information on the internet that you can go through to learn forex trading. You can read articles, watch videos, and even attend webinars to know more. Plus, forums like myfxbook are a great place to talk to other traders about their strategies and learn.

Traders have to remove these thoughts from their mind. But if traders have a profession EA, then things are different for them.

The Babypips website helped me a ton in the beginning.

Every beginner should use this site to observe experienced traders.