What are the Basic requirment for to be started in forex

[riddick09]

It will not surely not enough because no man is an island. So, we still need further help to others like those other traders or even with the assistance of the Forex brokers. Although, for me I'm quite comfortable in learning more and self study since I have more time doing so.

 

[budado]

A seed need water, sunlight and soil to grow. In forex trading we also need financial funds, good trading account and good trading skills to grow. Now depends on how much capital we have or how good our broker site is or how good our trading skills will going to show on our trading performance.

 

[kasual]

someone will need equipment to access meta trader or other trading platform to trade and monitoring the price. this is first condition if want to involve in forex trading business. second is trading skill where its the only way to enabling trader generate consistent profit result from forex market.

 

[riddick09]

It's not equipment but a program or software. And yet, it's already the metatrader that is the trading platform or the program so, I don't know what other equipment you are looking for. And yet, our skills can be acquired already or will be acquired as we trade in Forex.

 

[indieover]

You just need to have your own computer. I think he's talking about that equipment we need. So there is not much requirements needed when you want to be in forex trading.

 

[budado]

The basic requirements is that we can end up making good income in forex if we only know how to handle our account. So we must focus on learning how to do analysis because its in our analysis in which we can say we can earn good amount of money in forex. I do want to focus on learning and earning first.

 

[riddick09]

Analysis will need first to learn Forex and then, going for the real trading with the ready analysis and our skills that has been enhanced. The computer and internet will be then a must requirement because we can't trade without those in our home in office.

 

[sindarin]

You just need to have your own computer. I think he's talking about that equipment we need. So there is not much requirements needed when you want to be in forex trading.

i think that you need your own analysis skill too, it is useless if you only have computer and internet connection and only spend whole of your time only in demo account, every people want to earn real money from real account so that is why they trying to sharpen their own skills to analyze market and then make their self as better trader

 

[ryuken]

I think the basic requirement for the forex is that you need to learn the demo account and also understand how to make some efforts not to get into the loss. there are some of the cases where the forex trading may have some limits when it comes to consistency but if you don't learn skills and consistency then surely may not be well with forex.

 

[riddick09]

It's not an effort only but the strategy and management on dealing the losses. Yet, we should not be thinking of being consistent by to lower or minimize the losses we can have in our trading or even during those floating losses. It's including the stop loss implemented.

 

[ryuken]

I think you need some decent amount in your pocket and a real account with the forex. that is what i have observed most of the time. it is something that you need to understand while learning about the forex trading. practicing with the demo account and having some spare cash is a good start.

 

[sindarin]

If you don't have decent amount in your pocket you can try forex forum such as mayzus forum or instaforex, it will provide you real dollar in your real account, which is a good thing for you and many other traders who want to trade in real account without need to spend a lot of money from your own pocket.

 

[kasual]

probably trader can make small amount of capital increase, but it will takes time to see it growing high. more easy and get satisfy amount of profit if trader trades with high amount of capital. because can use higher margin per trade. so, if have small amount of capital only in our deposit account, we need to be patient.

 

[budado]

Choosing broker site is the easiest thing to do but same time very crucial. I do advice that we spend more timestudying how forex trading works first before we invest in forex. And try trading in demo account. As the longer we trade in demo account the more likely we can end up in profit.

 

[indieover]

Indeed it is very much important to know a good broker before you would start trading. But the most important thing is that you spent lots of time to learn more about forex trading. You would need to practice a lot on forex demo trading account. That is the best way for you to be successful trader.

 

[riddick09]

Yes, you need the focus and concentration before you can go ahead in Forex trading because of the risks you will not easily move on real trading and need to experience demo trading and that you should have known any risk management implementation in any strategy we have.

 

[indieover]

You need to be more focused . you cannot let your thoughts just wandering around. You must focus for what you are you doing in front of your computer . You must observe the movement of the market well. You can not afford to just be half focus.

 

[kasual]

many discussion about technical aspect such as skill and trading strategy but we also cannot forgot with the importance of psychology trading. there are trader able to generate good and consistent profit result in demo account while when they are jump in live account, unable to do the same. it due to that they are still not mastering yet about psychology trading.

 

[riddick09]

Trading psychology has something to do with the emotion management and also others like the patience and our motivation in Forex trading. So, we should really think of these as well after we have done with the learning of knowledge and that we will be in the demo and real trading.

 

[sindarin]

probably trader can make small amount of capital increase, but it will takes time to see it growing high. more easy and get satisfy amount of profit if trader trades with high amount of capital. because can use higher margin per trade. so, if have small amount of capital only in our deposit account, we need to be patient.

but if you start with small deposit then you should be patience and trying to growing up all of your capital to higher amount step by step, if you can do that then i am sure you can earn so well in this field, and the most important part is trying to compound when you need more capital but if you feel satisfied it is better to withdraw your profit