What are the Basic requirment for to be started in forex

[Tom Latham]

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

Can you please elaborate your 3rd point? Unfortunately, I am not clear. Thank you.

 

[Grinder]

Knowledge and experience are the basic requirements for the trader who came here to start trading. You can get knowledge from different forums related to the forex market. You can also get experience from practicing on the demo account. Without these two things you can't do anything on the forex market.

 

[Tom Latham]

Knowledge and experience are the basic requirements for the trader who came here to start trading. You can get knowledge from different forums related to the forex market. You can also get experience from practicing on the demo account. Without these two things you can't do anything on the forex market.

I must say, practicing the demo is much important than the forum! According to me, only popular forums are useful; again, demo is the best way to learn Forex.

 

[MarvelPole]

Hello guys! I think you need to do huge home work before starting live trading. You have to get deep into the market and try to spend time there. The knowledge is vast and you have to gain as much as you can. You have to compete with other for which you must have strong knowledge and adequate skills. Do you have?

 

[Tom Latham]

Hello guys! I think you need to do huge home work before starting live trading. You have to get deep into the market and try to spend time there. The knowledge is vast and you have to gain as much as you can. You have to compete with other for which you must have strong knowledge and adequate skills. Do you have?

Mate, till now I am updating my own trading skill. On the other hand, I am quite satisfied on my own trading performance because of my consistency! But again, I need to improve a lot!

 

[Alexander Hudson]

Learning the basics of forex is the mandatory thing to start forex.

 

[Eduardo Lucchese]

Learning proper skills is the basic requirement to start forex.

 

[Kazumu Fukunaga]

Willing to learn and having dedication for learning is the 1st criteria one should have. It takes a lot of patience and experiment to be good trader.

 

[Alicia Lynch]

A lot of experience is required. Such as: 1. Trading Knowledge 2. Plan and Discipline 3. Strategy 4. Strengthening Psychology 5. Correct Broker and 6. Risk and Money Management etc.

 

[Cooper Truebridge]

The basic requirement is to trade with a good broker. Creating ideas about currency movements, developing strategies, controlling emotions using demo platforms.

 

[Karley Walker]

You have to combine a lot of things to trade. Such as proper broker, knowledge gain, plan and patience, emotion control, etc.

 

[Kevin Vogt]

Yes, Without trading education, making profit not possible. One needs very deep understanding of the market. Most newbies make the mistake of not focusing on learning. They focus on earning without learning. And lose the money on continuous basis.

 

[Gito Dinev]

Nothing special. Just need a broker and money to invest.

 

[Mark Dahl]

It is easy to start but hard to make a profit from this market.

 

[Kevin Vogt]

You have to combine a lot of things to trade. Such as proper broker, knowledge gain, plan and patience, emotion control, etc.

Yes, you are right. It also refers to how much money one should use for a single trade. It is an integral part of forex trading.

 

[David Marco]

You need proper knowledge and skills to become a good trader in this market.

 

[FundUp]

With skills patience matters too, add this into the character if one don't have. Forex tests it.

 

[Kevin Vogt]

With skills patience matters too, add this into the character if one don't have. Forex tests it.

To improve patience we need to be realistic. When it comes to forex trading, people become illogical. They want to multiply 100$ in a day. The market moves all the time doesn't mean all the pips are yours. Be realistic and treat it like a normal business.

 

[FundUp]

To improve patience we need to be realistic. When it comes to forex trading, people become illogical. They want to multiply 100$ in a day. The market moves all the time doesn't mean all the pips are yours. Be realistic and treat it like a normal business.

Yea I can agree with you that you need to be realisic when it comes to achieving a goal in forex trading

 

[FXOpen Trader]

Yea I can agree with you that you need to be realisic when it comes to achieving a goal in forex trading

To get income from our trading we will have to use a trading system that is more profitable for us.