What are the Basic requirment for to be started in forex

[fahudmah]

Friends hopefully you all will be ok.
I am new here and most of the new members come here the most important question is What are the basic requirement to start forex and invest in it.
Basically i want to ask about all those things which should one know before investing. Either these are benefits or harms, rules, ways to get maximum profit, softwares for getting latest updates regarding forex.
Please you may post the requirements as under:

1 (starting from the most important)
2 (to the less)
3
4
5
.
.
and so

thanks in advance

 

[monyitomon]

As for me? You need to have knowledge first how to trade in Forex, using the MT4, and of course a knowledge about FOREX, you can watch some video tutorial so it would be much easier for you to understand then if you have the knowledge, and know how to trade, then open a demo account first then start your trading, after that you need a capital to do a real trading you can post in some Forex Forums to earn some bonus. Oh, I forgot another one CHOOSE a GOOD broker which has the most successful traders.

 

[riddick09]

There's no specific requirements to be a trader. Only for me, that we need to have here atleast internet connection, some knowledge in forex trading as well as to have here some maths ability. Of course, we also need to have trading platform and some trading capital.

 

[Tirus]

I think that forex trading is becoming easier to get into nowadays because more resources are available to assist beginner traders. Of course an PC with internet connection is a must but luckily computers and the internet are more available to the masses now more than ever. Forex bonuses can also help with initial capital to fund your trading account.

 

[kasual]

basic requirement to start trading is basic knowledge and demo account. very simple but in that case, you will still not able to make a consistent profit and even your loss greater than profit you get. you need to improve your knowledge and trading experience in demo account. and its will consume a lot of time. at this point, I will add patience in basic requirement.

 

[Razor1911]

most of the important is your will power as you have to be mentally prepared to get some profits as well as loose in trading..
next is a strategy that really works in trading.. a well act strtegy will surely help you to win a trade..
next is analysis, the more you do analysis of your earlier trades the more you will be succeed..
there are also many other points about how to make a trading succesful..

 

[monyitomon]

If you want a very basic things that you need of course an internet but assuming that our common sense know that already so the first thing you will need to do is to study Forex there are many website that offering a free tutorial then after that apply what you learn with a demo account then if you think you are good enough you need a capital to start with a real account.

 

[Tirus]

Of course the basic thing that you need to knowledge, the basics of forex trading so that you can have an idea of what forex is and whether it is something that you can be interested in or not. I dont think capital should be a problem at this stage but if you can accumulate capital it may come in handy as well.

 

[kalpeshmkm]

For Forex trading some very basic requirement is much needed like if you want to start trading you need one computer, Internet connection and trading software of your broker this is very simple and basic requirement for start a Forex trading.

 

[rexway]

Those onece are the basic yes but what I really think are the most needed things are things like basic knowledge ,get your desire training after your computer and internet connection then you are good to go.

 

[Tirus]

A computer with internet access would obviously be one of the most important requirements to have in order to begin trading in forex simply because of the fact that not only do you need to be connected to trade but you also need it to find resources online. It would hard to learn forex trading without using internet resources at your convenience.

 

[monyitomon]

Just like what you said "BASIC" of course you must have TIME and INTERNET connection to do Forex trading because that is the very basic thing to have if you want to be a Forex trader. And when you have those then you can start to learn Forex trading.

 

[indieover]

These days it's easy to handle those basic requirements to start with forex but it just hard to maintain our hard work and patience. So I think that is what we should be more concerned about. How we can be successful in forex and how to give our best.

 

[riddick09]

Yes, it can be basics as in mostly readily available. Although, even have those computers and internet connection if we have lacking of being a trader or not have qualities of a trader then, these are useless. Even we say we have many trading capital we can't say that it will going to make profits already.

 

[Tirus]

Yes, it can be basics as in mostly readily available. Although, even have those computers and internet connection if we have lacking of being a trader or not have qualities of a trader then, these are useless. Even we say we have many trading capital we can't say that it will going to make profits already.

These are all elements that should not be treated individually but rather as a collective that would make one a good trader and be the determinant on whether you are profitable or not. Yes, having good capital wont mean profits if you have not trading knowledge and skills so one cannot function without the other.

 

[Syrine22]

I think both material things and basic knowledge is required when it comes to forex but yet i think having a concrete knowledge about forex would be the best of all because it would be helping to avoid any kind of losses when one becomes a forex person.

 

[monyitomon]

Indeed, basic knowledge is really needed because even you have an internet connection then you don't have knowledge at all then you can't start trading so you really need to learn at least the basic of Forex trading and when you learn it you can trade with demo account.

 

[Syrine22]

I think for everyone to completely benefit from forex,he or she must have the basic knowledge which is the primary thing and every other thing is a secondary thing.i just hope to complete my basic knowledge before i would start my forex trading proper.

 

[rexway]

Yes the basic knowledge is the first thing for us to have but another thing is that all traders have to be able to get himself a good demo account which will keep him busy while trading on the demo account skills is been build gradually.

- - - Updated - - -

Yes the basic knowledge is the first thing for us to have but another thing is that all traders have to be able to get himself a good demo account which will keep him busy while trading on the demo account skills is been build gradually.

 

[naninov]

Friends hopefully you all will be ok.
I am new here and most of the new members come here the most important question is What are the basic requirement to start forex and invest in it.
Basically i want to ask about all those things which should one know before investing. Either these are benefits or harms, rules, ways to get maximum profit, softwares for getting latest updates regarding forex.
Please you may post the requirements as under:

1 (starting from the most important)
2 (to the less)
3
4
5
.
.
and so

thanks in advance

1. get knowledge
2. pick a broker
3. prepare documents for verification purposes
4. deposit your account
5. start trading