Its very sweet to say, and easy to make money with mouth, but not as easy as it seems.. First of all you must mathematically well oriented and good, you must know how to swallow patience and you must not go with the intention to make money out greediness.
This to know before making trade in forex?
- Thread starter Jomarie05
- Start date
Know that all trades do not always win you will loose more than you win in your first few trades. You should really consider studying forex, how to read charts and candles. How to do your critical fundamental and technical analysis. I think if you know these you will Ben on the right path to making a few bucks from forex
The political situation is even affecting the world of crypto currencies as a whole. This means that when the government is stable and exudes confidence, then it is worth giving it a try. For instance, understanding how the naira reacts once there is an appreciation of the dollar is important for those of us dreading forex in Nigeria.
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Consider factors that you won't be told - Forex does not promise anyone profits or losses. Everyone only operates and trades on forex with the mind of "come what may", so do not trade on forex with any amount you are not ready to lose and make sure you develop s very high pressure absorbing skill better trading there.
Know the Markets. We cannot overstate the importance of educating yourself on the forex market. ...
Make a Plan and Stick to It. ...
Practice. ...
Forecast the “Weather Conditions” of the Market. ...
Know Your Limits. ...
Know Where to Stop Along the Way.
Make a Plan and Stick to It. ...
Practice. ...
Forecast the “Weather Conditions” of the Market. ...
Know Your Limits. ...
Know Where to Stop Along the Way.
First you have to understand the market and its trends. Know when to buy and sell, know when to go short and when to go long term, know your trading tools and make sure you familiar with the way they work. Don't ever be greed and also dont ever rush into the market. Lastly use the money you can afford to lose
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Forex trading is lucrative and profitable, but it's not a trading that any how person can jump into without aquire acquired a good knowledge about it, because as people are making a huge money from it, is the way people are loosing money on it. So, I will advise you to find a experts one who are being doing the trading that you can acquire a knowledge from him/her.
Before going into forex, you should be prepared to accept loses, also know when to buy and sell, know when to go short and when to go long term, know how to do your technical analysis before taking a position. Don't ever be greed and also dont ever rush into the market.
First of all you need to understand the market and its trends correctly so that you can step into trading for a shorter and longer period and you can also make a profit and you should never Don't be greedy and work with a little patience so that you can get more benefits. If you don't have patience, you will hurry and you can lose a lot.
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Thousands of people are making money from forex just as you said, it's a good platform to realize some money no doubt. But as a beginner have you taking time to study the market I mean, can you read the chat? To know when to strike and when not to? What about the candle stick? What do you know about it?
The most important thing to know before trading forex is to understand the concept of forex. Forex are lines of price action. It’s therefore imperative to know when to buy and when to sell just like in real markets. We buy when the price is low and sell when it’s high. With this mentality, your journey to success just started.
Concerning your question I personally would advise that first of all you'll need a training, at least the basics, then you'll need to get your strategies right and then you'll need your capital. And before you go into the trade you'll need a mentor, you'll need a mentor to put you through, advise you and answer any questions you might have along the journey
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Before you start trading Forex, here are some important things you need to know first.
# 1 When you trade Forex, you do not actually own physical currencies. ... # 2 Bid-Ask Know the spread you're experiencing. ... # 3 You are making a profit from volatility. ... # 4 Become very familiar with the currency pairs you are trading.
# 1 When you trade Forex, you do not actually own physical currencies. ... # 2 Bid-Ask Know the spread you're experiencing. ... # 3 You are making a profit from volatility. ... # 4 Become very familiar with the currency pairs you are trading.
Well I don't think is advisable to go for forex! Why not go for cryptocurrency. Although its fine if you can develop passion for it. That's fine.
Things you need
You must learn what forex entails: more info on YouTube etc.
Nice update
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They are key things to know before staking in forex,how to control emotion, practice very well on demo,do not mix up your strategies,apply risk management.
Wanting to know before making investment in forestry you have to know that forestry is just like gambling you predict the market before investing and there is a lot of risk involved it's all about loss and Gain.
I think that one of the main things that you have to consider is the risk that you are willing to take when it comes to trading. Whether you are trading in cryptocurrency or you are trading in forex the risk is still there and you have to make sure that you are able to manage the risk and have the necessary skills in order to not be driven by fear. I think it is important to find a reputable trading platform that you can use.
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I still advise you to start with a demo account! Which you can get anytime on google... just try all the method that come to you with it....
When I hear forex I remember my mentor telling me you can be a millionaire in a second and also become broke in a second
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