Patience and discipline are virtues that can benefit all traders, keeping emotions and snap judgments in check. Due diligence and quality research should inform your decisions on when to enter and exit trades, it may take some time for the price to catch up to the fundamentals.
Technical analysis is a trading discipline used to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume.
Education is a never-ending process and especially in the case of Forex, you cannot stop learning the aspects of the market if you wish to survive for long in the market.
Demo Trading is the best way to gain knowledge about the Forex Trading, but you cannot rely on it totally hence, you must go for real trading also with nominal amount.
Practically Demo is said to be used for 3 to 6 months, but I had done it only for 1 month and later tried my luck in the real trading and am earning a good profit now.
Another incredibly unique aspect of trading the Forex market is that you can trade 24 hours a day. There are three main markets (US, Europe, and Asia), and at least one is open at any given time.
Losses cannot exceed transaction costs, including fees. Above-average returns are also possible in very quiet markets. It is difficult to make a profit if the stock index or forex pair is barely moving, but with binary options, the payout is known.
The foreign exchange market offers the greatest leverage of any financial asset market. The arrangement of the foreign exchange market provides investors with up to 20 to 30 times the original investment leverage and trade in the market! This magnifies profits and gains.
While binary options can be used for theoretical asset pricing, they are prone to fraud in their application and are therefore banned as a form of gambling by regulators in many jurisdictions. Many binary options outlets have been exposed as fraudulent.
Unlike the stock market, the foreign exchange market does not have any restrictions on directional trading. Since traders always buy or sell a currency based on market conditions, you can easily go long or short based on your predictions of changes in its value.
Binary options in Forex are available from exchanges such as Nadex, which offer the most popular currency pairs such as USD-CAD, EUR-USD and USD-JPY, as well as many other widely traded currency pairs.