New on the Forex

[catalin]

Hello. I'm new in this business with Forex. I want to know from the start if even a profitable business and are the first steps that I must meet.

 

[indieover]

you must learn a lot first by reading some tutorials. try to go to the babypips.com. there is a guide for learning forex for beginners. and try to join a broker and open a demo account. but you will learn what you need to do in the tutorials and try to participate on this forum specially on the forex section so you can learn more.

 

[kris]

I am new member on the forum. Can you please provide me with some analysis, how much i can expect to earn by working this type of work? I am really looking forward to succeed in this business.
Thanks

 

[pinoycity]

For me, the best way is for someone to get a demo account and then try forex trading without the benefit of any training or even reading of the basics of forex trading. This way, you will get confused a lot and therefore, if you get attracted to the trade, you will search the web and find out and learn about the things which are making you confused.

By the way, I just noticed that the title of the thread is not that near as to what is being discussed in it.

 

[brokenblade]

Forex is definitely a profitable business. The first thing you need to do is learn everything you can about the market. Then before you get a real account, get a demo account and practice as much as you can so that you will get a better idea about the market. You probably should use the demo account for months. However, if you feel like you are ready, then by all means open up a real account.

 

[Ehtesham]

Forex is not as easy as you all know.You have to wait for your luck and work hard better take some tutorials about Forex on different forum then apply for it.And also working on trail account is also a good idea.

 

[Tirus]

Forex is not as easy as you all know.You have to wait for your luck and work hard better take some tutorials about Forex on different forum then apply for it.And also working on trail account is also a good idea.

I would rather prefer to rely on my trading skills more than luck. Fair enough, luck has a role to play in forex trading but you cannot factor it into your trading system. It better to equip yourself with the knowledge and practice to give yourself an advantage in doing analysis and developing a good trading system for success.

 

[budado]

Hello. I'm new in this business with Forex. I want to know from the start if even a profitable business and are the first steps that I must meet.

First thing you need to do is to commit in forex trading and that means you need to have lots of extra time not only in trading but in learning also. And the most important thing is that you need to spend lots of time practicing and not going to make profit or don't expect to get profit in the first two months. Also make sure you are ready to loss money in first few weeks of trading and willing to add more funds if necessary.

 

[aggate]

Hi, guys!

How much money should i invest at first? Have no clue, and afraid of falling into big losses..
Thanks.

 

[monyitomon]

Invest what you can afford to lose, actually there are some Forex broker who are offering with one dollar deposit so if you just want to experience trading then it would be better if you will go for it, because before you go with real trading account then you must already have enough practice with demo account.

 

[riddick09]

One dollar deposit isn't really useful for new traders. Better to have more than that and think also of what will be your type of trader. Because we can expect that it will depend our strategy and trading capital in our trader type such as scalper or long term trading.

 

[Razor1911]

good question, and i guess every newbie trader will ask the same question..
well, trading is a very risky business and only a drop of the sea can get established in this business..
the first thing you will need is strategy, some experience and some good timings.. if you can bring all these, you will become the hero of trading..

 

[Tirus]

good question, and i guess every newbie trader will ask the same question..
well, trading is a very risky business and only a drop of the sea can get established in this business..
the first thing you will need is strategy, some experience and some good timings.. if you can bring all these, you will become the hero of trading..

I would say knowledge because you wont know how to develop a strategy if you dont know much about forex trading. With that knowledge you can then start working in demo account mode where you will work on a strategy that works for you and is suited to your personality.

 

[kalpeshmkm]

If you are new in Forex trading than you have to start with Demo account of Forex and make your knowledge strong with reading forum post and daily news updates when you felt that you are ready to trading live you can start trading live so first of all you have to start your trading with Demo account.

 

[rexway]

Demo account should be additional thing but the first thing first is the basic knowledge then learn some other things that can help you to start with then you are good to go but also the second step should be Demo account dont stop there keep on pushing till you get all the neccessary knowledge ever needed for you to survive.

 

[Tirus]

I agree that you have to start somewhere when it comes to forex trading and the best place to begin is which learning the basics of forex trading. This way you are better off with a solid foundation of knowing what forex is and how to deal with the demo account. You cannot start trading if you dont understand currencies and they work.

 

[indieover]

Just try the demo account so that you would know what are the things you would need to learn and also so you would be able to understand very well what you are reading about the basics in forex. So for me i would try to learn forex by practicing more on the demo account.

 

[valexer]

Just try the demo account so that you would know what are the things you would need to learn and also so you would be able to understand very well what you are reading about the basics in forex. So for me i would try to learn forex by practicing more on the demo account.

I cannot deny the importance of demo practice. I think that it is essential when it comes to learning how to trade. But I would recommend that before a beginner try his luck in demo trading, it will be best to learn what is forex trading first. I mean that a person should at least learn the principle behind forex trading. About the market and about the currencies and how they affect the country and the economy. I think that his will help in one's awareness with regards to when to trade. Demo trading will then be the place for application of these knowledge.

 

[Syrine22]

Yeah that's totally right.A novice to forex is expected to start from the foundation because it isn't expected for one to start a house building from the top but one must start from the foundation and that likewise applies to forex.A foundational knowledge is required for pure success.

 

[riddick09]

Definitely, no one will be successful if they are not going to have here the first things that they need to learn and consider we know the fact that traders need to have enough knowledge and not totally be perfect those everything in forex trading.