trading basic

downtown posted:

VirgoG posted:
i agree, consistency is what beginners should focus on while starting,it is that'll help them in the long run.

Not only the consistency, but also the discipline and the mentality level as well. Without those, you cannot make a good decision and letting the emotion getting in the way and as a result, there is no consistency level in trading.

Very true. Could not agree more with you on consitency.

If you want to become successful in this risky market, you need to have proper knowledge about the market. To gather knowledge about the forex market, a demo account will be the best option. It will help you to learn all the basics of forex perfectly and properly.

There are many types of analysis in Forex, such as technical analysis / fundamental analysis / sentimental analysis. Of these 3 types of analysis, you need to trade with technical and fundamental analysis. The economic news that is discussed in detail is called fundamental analysis. And technical analysis means to analyze with support/resistance level, market context, divergence.

CirillaCosta posted:
If you want to become successful in this risky market, you need to have proper knowledge about the market. To gather knowledge about the forex market, a demo account will be the best option. It will help you to learn all the basics of forex perfectly and properly.

True! Demo trading is definitely a great way to practice and test strategies. Not at all recommended for any beginner to directly start with a live account, that's too risky.

No matter what, you must have knowledge about the market when you are planning to make investments.

If you want to become successful in this market, you need to have proper basic knowledge of forex. You can get knowledge of all the basics from a demo account.

RobSchiz posted:

CirillaCosta posted:
If you want to become successful in this risky market, you need to have proper knowledge about the market. To gather knowledge about the forex market, a demo account will be the best option. It will help you to learn all the basics of forex perfectly and properly.

Knowledge is very important to survive in this risky market.

Rightly said, in the forex market I strongly consider that right knowledge and sufficient market research can always help in making trading profitable.

Every new trader should learn all the basics of forex properly before investing in this risky market.

Technical analysis is the best thing one can do for forex trading. Because for fundamental analysis you need to understand the economy very well. Whether it is day trading or scalping or swing trading, technical analysis is the key to decide the entry and exit point. But for overall success emotions management is very important.