• The Forex, Binary Options Forum - welcomes you to our Community!

    DigitalCashPalace Forum is dedicated to discussions about Forex, Binary Options, commodities, stocks related.

    Please take a look around, and feel free to .

If you are new trader

If you are a new trader, you need to learn all the basics of forex perfectly. Without proper learning, it is quite difficult to survive in this risky market. You can learn forex from a demo account. It is the best way to learn forex.
 
For newbie all they need is to acquire knowledge as much as they can. Without knowledge and skills it's not possible to make consistent profit. They should invest time in learning.
 
sounds really good to see you , have a good journey , by the way most welcome in our friendly community. happy learning.
 
Due to small balance I always have to depend on scalping that brings profit in a short time. But it causes a great loss sometimes, because within short it’s really difficult to predict the market with certainly. So I think long term trading is too much safe and sounds.
 
should keep learning always , and besides learning it is more appropriate to ensure regular practice
 
you can start with learning first above all from psychology of school. go through this educational site minimum for 2 times . it will bring awesome knowledge with live experience.
 
New traders should gather knowledge before start trading. To gather knowledge, you can trade in a demo account. It will help you to learn all the basics of forexproperly and perfectly.
 
generally the target we select is not realistic, this is the main problem we have and for that reason we cant fill up our target completely, we have to make sure the target according to our knowledge and experience , over targeting make make us always greedy and emotional. so be careful
 
beginners not willing to serious in demo , no emotions and real money in here for that , so they can participate in demo trading contest. its minimum better than as usual trading
 
no way to deny the importance of trading experience. but to gain more knowledge and experience we the traders need pass a long time with great patience.
 
most of the beginners try to bring profit with no learning , as a result they become loser after passing sometimes. actually there is no way to become rich overnight by Forex trading.
 
In Fx trading , leverage is useful for trader , especially if trader start with small balance hence with leverage it will giving opportunity to making transaction on Fx market , now some broker offer high leverage until 1:1000 but so far I am only use leverage 1:400 as maximum.
 
It’s not appropriate to depend fixed rule, if we want to survive in a proper way. it is really important to gather keep pace with this markets movements. Sometimes the rules you have can be changed. it’s really depends on the situations.
 
keep practicing continuously is really difficult and honestly speaking best habit in the world at any section.
 
If you are a new comer then you should first trade with demo account and then when you are sure you have good practice to trade only then come into LIVE trading market. Until then trade on demo account and learn the practical aspect of forex market.
 
Top