According to me one should have a thorough knowledge of forex. Lack of knowledge in forex will not gain you but you’ll be stuck for nothing. Forex Trading is a zero sum gain market where the winners take all the losers well they just lose all their money. There is significant risk involved if you do not know what you are doing.
Never invest money into a real Forex account until you practice on a Forex Demo account! At least 2 months trade on Demo account. For constantly make money on Forex you need to follow three principles they are mindset, risk management and strategies.
Forex is also a huge industry of different trading tools, programs, manuals and etc. if you fail with trading forex you can earn $$$ from telling people how to not repeat your mistakes. As for trading itself I think that it depends on your personality forex is close to poker those who are successful poker players are also win in forex...
Absolutely right. You have to at least learn the basics of forex trading before jumping in. Dont even think of getting a forex agent without learning the basic ins and outs of it. Had a fair share of forex trading experience and gained good amount of stocks.
I have a practive eToro account but I'm only losing money. It's kinda gambling to me. I tried a deposit of $100 but it's too low. You need at least $1K to make some profit. But Forex isn't for me.
I am a pretty accomplished forex trader... started off stupid and flailing about - losing my entire account balance, but after a year I have turned a small investment into a neat 5 figure sum... which continues to grow I win more than 75% of my trades and have a thorough understanding of the market and what makes currencies bob and weave. I also earn some extra dough on the side teaching people when to trade and when not to trade as well as how to build their forex confidence and discipline.
Dear OliviaCooper, Before you give up on forex, have you tried using the new eToro OpenBook application when you trade? OpenBook is a social trading network that enables you to benefit from the experience of professional forex traders by viewing their live trading actions, analyzing their strategy and even copying trades immediately. So even if you're not a forex expert, you can trade like one! You are right however, $100 is not enough to practice safe money management, unless you trade microlots (1,000 units). With microlots you can invest as little as $2.5 per trade, but of course the profits are lower accordingly. Still it's better to trade safely and to gain experience than to lose everything on just a couple of trades. The golden rule of money management is to never invest more than 5% of your margin in one trade. As long as you do that and follow a consistently profitable trader, you should be fine! We wish you happy trading, The eToro Team
There are plenty of software platforms available on the internet it is just a matter of finding one that suits you and has the tools to fit in with your trading style. Don’t be afraid to test out other software primarily with a demo account until you find the right package. I have subscribed to UFXBank, which leads me to the correct path of earning in stock market. So if you're serious about creating a real income from the comfort of your own home with trading on the stock market, then the UFXBank is the easy way you could possibly access.
My advice never ever ever invest real money in forex without a system and without testing your system on demo for at least one good year, otherwise, you'll get burned in no time, and even then never invest money you can't afford to throw out the window. patience is the name of the game!
Hey guys, i have been trading for 3 years now, i started with forex went to cfd futures and stocks. Its a hard game and the only thing that can get you to become successful is knowledge of the markets. Read books, forums or/and get a coaching. I would recommend to not start below 500$. PS: leverage is a gift!
hi friend i don't know more about this i just say a few words about this, The primary purpose of the foreign exchange is to assist international trade and investment, by allowing businesses to convert one currency to another currency.
There are forex forums that you can google that will be able to give you mroe of an idea of that type of investing/trading. Forexfactory is one of the main ones. There are some good traders on that that can help you out.
I some times trade 'cable' with my CMC account and have done for nearly 10 years but its not my main forte i mainly trade the UK top 250 stocks this i do on a daily basis,the latter option i have been doing for many years.
I have been in forex for 2 years and still can't find good method to make profits...Just keep learn and learn...don't give up
Forex's too complicated and you really have to study that stuff deep. The gains aren't that great. Go for the easier route heh CPA marketing is the way