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Your experiance whit Forex Trading?

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  • Your experiance whit Forex Trading?

    Hello
    I wanted to start with Forex Trading but I dont know f how to start trading, since I am an absolute beginner, could someone give me some tips?
    Would be very grateful.

  • #2
    Originally posted by fritzz View Post
    Hello
    I wanted to start with Forex Trading but I dont know f how to start trading, since I am an absolute beginner, could someone give me some tips?
    Would be very grateful.

    Welcome to the wonderful world of forex.
    Proceed with caution, but dream big!
    I have answered this question a few times in my 15 year career, here in this forum, on other forums, and of course in person with other new traders at seminars and such.
    Some clients / trade copiers of mine have eventually wanted to learn forex and make their own trades.
    1. Baby Pips is the place most beginning forex traders go to learn
    2. Get a Demo Account at a good brokerage and start practicing: AxiTrader, Pepperstone, Tick Mill, Mt Cook, ICMarkets, HotForex
    3. Develop a Trading Strategy/Plan/System -- make it personal
    4. Develop a Risk Management Plan
    5. After 3 months of profitable trades, then begin trading an amount of Live funds equal to one month's wages (if you make USD$50,000 per year, then put $4,000 into a live trading account)
    6. Check out the "How Can I Learn Forex" thread at Donna Forex

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    • #3
      Do you really want to invest time and money in trading? First of all, you do not do that "just" for fun but trading is a real business.
      If you want to do this seriously, the best advice is to learn trading from someone who already knows it. Trading is pretty hard and demanding. If you want to make "easy money" without previous knowledge, the failure is as good as preprogrammed.
      Extensive knowledge about forex and trading can be found here: http://tradeforexinsa.co.za/ that is probably the best Site on the internet about Forex in one place. Also take a look at forums where Strategies are presented or discussed.
      Your Source for CFD, Forex, Binary and Crypto Trading in South Africa. ✅ Broker Reviews ✅ Education ✅ News and more...

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      • #4
        Without taking the risk, rewards are less! Forex trading is highly volatile and clubbed with various direct and indirect risk like- geopolitical tension, government & politics of nation, environmental changes etc. These changes are taken into consideration because Forex trading is known as exchanging currencies of various countries with each other. It is beneficial for us to be a Forex trader.

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        • #5
          Personally I like to operate with exotic pairs is a dynamic but very complex market to use, my model to follow to use it correctly is Adriano Caruso, is recognized in trading for being a great trader who has handled and studied different markets. He has a lot of experience that has made him one of the most successful among the youngest promises and is currently engaged in designing automatic services for exotic pairs.

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          • #6
            Start your trading career with basic knowledge. For fundamental understanding you can use online tutorial, or top online communities. Best Point is no need to start directly with real account. Just use DEMO account offered by any regulated broker. Learn more and more about Forex market.
            Good Luck!

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            • #7
              can anyone guide me on how to trade-in forex and what factor see when you see buy and sell forex currency and tell me which platform gives forex api for updates me currency rates in the market?

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              • #8
                The main thing about forex is that you shouldn't be afraid of trading. Most people lose money not cause they are bad traders, but cause they are afraid of making a mistake. Such people always quit trading after 1 failure. There are also type of traders, so-called ""greedy traders"". They lose money cause they want to earn a lot of money and don't take risks in account. Forex is a place that give you opportunities, but you should be smart to take them.
                Just don't underestimate the platform importance, the main thing is your skills.

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                • #9
                  If you are new to trading, then develop the right attitude to trading at the very beginning, otherwise you will waste a lot of time and money.
                  But even if you have failed in the market - don't stop! Trading is not for the weak of spirit. Demanding and exceptional individuals with strong character and will to win survive in the market.
                  Many professional traders have three important stages in their work cycle. At the first stage, professionals make a thorough analysis of the market, determine the regularities and develop a trading system based on it (this is probably the most time consuming stage). The second stage is a forward test of the trading system on a demo. At the third stage, they start trading on the real account. It is very important to prescribe the trading rules in all details in the trading plan. This approach will give you confidence that the trading method will not let you down, as well as increase your stress resistance and reduce the impact of psychological factors when working on a real account.
                  However, working on a demo account will never teach you what real trading can teach you. Trading on a demo account, you will not have any psychological challenges because there is no risk. Psychological skills will be developed only when you trade on the real account and in no other way. You should feel the risk, develop the right attitude to losses. The ability to cope with positive and negative emotions while working on the market is 80% success.

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