What are the Basic requirment for to be started in forex

[Decub]

When I was just beginning in forex trading, I was advised to use demo trading. I am glad that I did becauseI have learned that it is not easy to make profit in forex trading that I would need to do a lot of practice

Though Demo is the most effective practical way of learning Forex but then, an entire newbie who cannot even differentiate the different pairs will see a Demo account as just a software on a computer system or an app in a smartphone without knowing how to go about it so I think that if we talk about basics, then theoretical understanding plays a very important role.

 

[riddick09]

Nope, it's not that effective but the essential thing about it is we will learn here of our strategy while the more significant trading experience and learning will be in our real trading. We will also need to have find the most suitable and best trading platform to use most likely the metatrader as it's most compatible in different devices.

 

[hadg33]

Though Demo is the most effective practical way of learning Forex but then, an entire newbie who cannot even differentiate the different pairs will see a Demo account as just a software on a computer system or an app in a smartphone without knowing how to go about it so I think that if we talk about basics, then theoretical understanding plays a very important role.

Knowing the basics in forex is the key to start trading,like you have said,a newbie might not even know how to make use of the demo account talkless of trading in it. When a newbie trader knows the basic,then I feel the trader should be able to handle the demo account.

 

[budado]

In my part I think the forex forum really have big help in my success in forex. This is the main reason why I focus on on forex trading rather than posting in ptp forums. Simply because I do believe that the first step is in ptp forum then in forex trading. But from time to time though I still do post in ptp forums especially in forex forums.

 

[winuga]

You must be missing somethong out of that. Basic being defined as the main and essentail part need for forming or fundation of something. Forex basic requirement should start with a good and strong internet connection with a good internet accessible device.

yes, but i consider internet connection as part of trading tools just as same as computer we use or mobile phone we use for trading.. it is media for trading but not the basic need to be a trader itself, i hope this will clear my explanation before

 

[glucoseguy]

A very Internet connection is necessary for a forex trader and possibly one of the most important tools required for forex trading but without the basic knowledge of forex, the internet connection will be useless. In other words, a very good internet connection and the basic knowledge of forex are basic requirements necessary to start forex trading. There are other basic requirements though, such as having a demo account amongst others.

 

[Angelic]

yes, but i consider internet connection as part of trading tools just as same as computer we use or mobile phone we use for trading.. it is media for trading but not the basic need to be a trader itself, i hope this will clear my explanation before

When the basics is been talked about both the tools and all that attributes to a successful trading falls in line. So the internet and a good device is essence and are the basics to trading. How will u get access to forex trading or learning without the internet?.

 

[winuga]

When the basics is been talked about both the tools and all that attributes to a successful trading falls in line. So the internet and a good device is essence and are the basics to trading. How will u get access to forex trading or learning without the internet?.

seems that you still didn't understand me...
yes of course we need internet connection, but what i talked about is basic need from trader itself, internet connection is a tool, if you say this is basic requirement than the other things you must include as basics will be computer or mobile phone or any devices related to start trading forex, even chair for sit and table... just kidding... but as i said that they are tools we need to use apart from basic requirement to start trading forex as a trader

 

[Decub]

There are times when I begin to think that a clear mindset is the first thing to consider before starting trading. One should understand within himself if he is ready to do that which so many consider as risky. Having that clear conviction within your self goes a long way to making you adapt and subsequently grow passion for trading.

 

[winuga]

There are times when I begin to think that a clear mindset is the first thing to consider before starting trading. One should understand within himself if he is ready to do that which so many consider as risky. Having that clear conviction within your self goes a long way to making you adapt and subsequently grow passion for trading.

yes, passion for trading, i like this words... without passion for trading than there will be no traders, passion make someone want to do something and try to grab it, i think it is essential

 

[Cutiekc]

There are times when I begin to think that a clear mindset is the first thing to consider before starting trading. One should understand within himself if he is ready to do that which so many consider as risky. Having that clear conviction within your self goes a long way to making you adapt and subsequently grow passion for trading.

You are spot on. some traders actually have not the desire fore trading they just grow the huge to trade ovver night on seeing there friend or relative making good amount of money. So they jump her with no training. Also a basic requirement for trading should also be a good or favourable enviroment.

 

[Daisy]

You need to learn forex and then practice as much as you can and then try gain profit in a demo. You can move on when most of your trades are profitable or if you know the reason why you lose cause that is important cause you won't repeat it in a real account. Every little mistakes will lead to loss so trade wisely. You will need to learn money management and loss management so you won't lose. Most of all you will need a great intellect in order to analyze and make trading decisions as earning and losing are all dependent upon you.

 

[gkintl]

The basic requirement to enter forex market is a computer and an internet connection. Other than that, basic knowledge of English is very much preferred so that it is easy to download study materials from the internet and go through them. Apart from this, only experience, patience, control of mind and determination to avoid past mistakes will enable a trader to become a professional.

 

[haneefzain]

Starting forex trading you must first collect the basic information about forex trading from any source like expert advisor, forex forums, forex professionals etc. then analysis market conditions then your strategy for trading.These things you must consider before trading..

 

[Decub]

The basic requirement to enter forex market is a computer and an internet connection. Other than that, basic knowledge of English is very much preferred so that it is easy to download study materials from the internet and go through them. Apart from this, only experience, patience, control of mind and determination to avoid past mistakes will enable a trader to become a professional.

Yes, Forex is such that with just your a computer connected to the internet and your basic skills, you can start up trading. It doesn't require you to have a big office with a lot of office equipment in it and that makes it very enviable among the other forms of online businesses.

 

[Angelic]

The basic requirement to enter forex market is a computer and an internet connection. Other than that, basic knowledge of English is very much preferred so that it is easy to download study materials from the internet and go through them. Apart from this, only experience, patience, control of mind and determination to avoid past mistakes will enable a trader to become a professional.

Yes you are right due to on learning forex trading english is the word been used, but then I think it isn't much barrier since there are brokers out there that have various languages that there brokers script supports. The basic is a good and strong, fast internet connection with a mobile tradable device or computer.

 

[barood4money]

Well, to start forex trading, the basic required things is a smart phone or computer with good internet speed. Then you need ebooks, website source or tutor to get adequate knowledge about forex trading. Then you need a broker to trade with and download a platform for trading. Then a demo account is needed to practice with. then you need a real account and investment to start trading.

 

[seeker]

The basic requirements before someone can start trading forex is having a good computer and a good internet at least 3G connection. Sencondly is having a good knowledge which can be built with the help of the demo account and some articles online.

 

[Pettyeve]

The basic requirements to start trading in forex is if the trader is having a computer that is connected to the internet. Even the trading capital is not that much important to the trader when he or she is already having the knowledge. Forex does not need to much requirements to start up.

 

[Decub]

@seeker, a fast connection is quite necessary even if it is not on a 3G network. I can still trade from my mobile when I'm on a 2G and with no delays of quotes. What makes the difference is how reliable the connection is. I have had a rough time sometimes ago when I didn't use SL and lost connection in the middle of my trade.