Forex Basics - What is Forex?

[riddick09]

All they need is to have first interest and determination to learn forex trading. I feel that they will not only have come up with forex trading if they don't know or have idea atleast what they are into. So, the first things they need to focus is the forex basics to learn them thoroughly.

 

[hadg33]

Yes,you are right,before going into trading in forex,one needs to know what forex really means,I mean the person has to know the fundamentals and basics of forex,the risks involved and have a good knowledge of it before going into trading

 

[Syrine22]

Yeah that's totally true.Majority tend to fail because they fail to know what they are meant to know.It is great if we go ahead to put our interest in the fundamental part of forex so that we would be knowing the basics and the strategies involved.

 

[ofejiro20]

There're many things to learn from forex,also there're certain trait we need to exhibit before going in forex..Im taking about the interest of learning forex,If there's no love for for forex possibly there'll be no joy in forex trading experience so you must have some value for it.

 

[Syrine22]

The major reason why majority of students tend to fail when it comes to schooling stuffs is that the zeal and passion they have for that subject is dead that is likewisely appliceable to forex.you can be in forex if you dont like it.you have basically always show interest.

 

[hadg33]

That's true,if a forex beginner never shows interest in knowing what forex is actually is,then he or she would not be able to learn forex cos it would look so complicated abd complex,and when it becomes complicated that is where the problem lies,it now look as it is so difficult

 

[seekforex]

Forex (Forex currency exchange, Foreign Exchange) is simultaneous purchase and sale of the currency or the exchange of one country's currency for the one of another country. My Forex broker is Capital One Forex.

 

[Syrine22]

Yeah we know that,that forex is the exchange of forex currency and that is the early aspect learning of forex.forex is made simple if we get to know the things that would be making us successful in it.sincerely i enjoy my daily forex knowing.

 

[sindarin]

basic forex? i think people just see the topic about basic forex in some blogs, and i think that is already enough, read , read and then read will never give any good thing for users, what they need only applied it in account whetever it is demo or real account, and the question how many people already spend their time to trade rather than read and read?

 

[Syrine22]

Yeah that's true but yet when something or a learning processed hasn't been assimilated properly some guys would rather not want to try something.i majorly see nothing bad in a continious reading but we at the same time practicalising it would be the best.

 

[sindarin]

in fact we have demo account which we can use to start make us familiar while reading some material that we can practice in our demo account. and i hope that many newbie also doing that thing like you said, since not all really want to trade in forex.

 

[Syrine22]

It is not only newbie that the demo account is meant for.we all can't say we 100% perfect in forex and that is the major reason we need to keep practicing even as professonals to learn and gain more and above develop new strategies in our demo accounts.

 

[sindarin]

It is not only newbie that the demo account is meant for.we all can't say we 100% perfect in forex and that is the major reason we need to keep practicing even as professonals to learn and gain more and above develop new strategies in our demo accounts.

have you ever trade in demo account? do you realize you lack something in demo account? if you truly ever trade in demo account then you will know we lack of pyschology thing, like fear or greedy, you don't experienced it, why? no real money, i know that some professional trade still use demo account but not every time when they want to trade, my friend who have been in forex for 5 years, only spend few times in demo account in a month

 

[Syrine22]

The first point i would be addressing inhere would be that no matter the business one is into fear shoudn't be exerted and that is likewisely the case of forex.when there is fear there would surely a loss.let me tell you that a demo account would forever be important for everyone.

 

[sindarin]

but real account also important, they give you all you need, fear and greedy also there you try to control that things by yourself, real account give you real bucks which you can withdraw, and more succesfull trader spend their time in real account. as long as you can trade that is not a big deal what kind of account you use,

 

[hadg33]

Well the real trading cannot be recommended to a forex beginner,though I understan what you are talking about,you are simply saying if a trader is trading in a demo account he would not afraid of loss but when trading in the live account,panic or fidgeting would surely sets in

 

[Syrine22]

Yeah that true we are meant to kill all our fears in a live trading account bv how would we be doing that if we dont have any worthwhile knowledge of forex.we wouldn't be learning forex if we wouldn't be trading in the future.All our fears should be first addressed through learning.

 

[sindarin]

kill? you cannot kill your fear when you trade, the only way is to control your fear, so that is why i suggest to trade in real that will give us real sensation, i feel it and loss my bucks, and i started from new again.
[MENTION=475]hadg33[/MENTION]: you are totally right, at least that is only available for newbies that actually already spend their time with demo account and know well their environment like how to buy and sell, and few forex terminologies

 

[Syrine22]

@sandarin:what is the difference between killing your fear and controlling it???The ability to control your fear is a step by step way of you totally killing it.so you better dont mis-quote me with the way you are diffrentiating the two.

 

[Tirus]

Its really important to manage your emotions like fear because they can be your worst enemy when trading and result in losses thereof. As much as trading in the demo account is vital to a trader, emotions are felt less here and its only when you go into the real account that you would really encounter them.