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First steps on trading

Discussion in 'Beginners Bootcamp' started by Joao Afonso, Oct 1, 2015.

  1. audrey collins

    audrey collins Recruit

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    Completely agree with you. Demo account trading is of utmost importance for beginners. You can test your strategies here and then move to live trading. However initially invest only small amounts so that in case you end up losing that it won't constrict your finances.
     
  2. EURUSD

    EURUSD Sergeant Major

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    Yes, it is very essential for early preparation only invests small account that affords to lose, so if faced with something that out from expectation it will not be disturbed overall financial because trading forex is not easy, this is a very high risk if we can't control emotion
     
  3. dianajs

    dianajs Private, 1st Class

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    That makes it useful for all traders, in my opinion, not just beginners. One needs to test strategies regardless of their level of experience.
     
  4. Aaron Barton

    Aaron Barton Recruit

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    Yes, there is no short to success. In short time anyone can get some temporary success but for sustainable success, it needs time. But most traders do not try to understand this simple fact. They live in fool's Paradise. They want to make quick money without necessary skills and knowledge.
     
  5. nahiyar

    nahiyar Private, 1st Class

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    My aim is to find out real success not temporary success. Making profit once or twice is not a successful trading until I am not able to gain regular income. It means forex should be a source of earning that I can use confidently. Now my steps to control on unnecessary emotions and tradings, they are big hurdle in consistent profits.The wau of success is hard and long . It is better than loosing in shortcuts.
     
  6. alaska27

    alaska27 Recruit

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    I think learning about the basics of the trading is the first step of joining the trading world. You need to increase your knowledge by consulting different learning providers including online sources, books, experienced traders, and many more. How much do you know about the Forex market?
     
  7. EURUSD

    EURUSD Sergeant Major

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    It is very good to learn basic education, if later already having long time experience, I think also will explore more knowledge, besides learn with reading from an article but also very important to keep practice on the demo account, although only using virtual money, but useful to backtest system and strategy with free of risk
     
  8. Desacete

    Desacete Recruit

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    You must make a demo account and start a trade on it untill you learn about the market. Also read the newspaper, do some research about the market from websites related to forex and also from the traders who are trading from long time.
     
  9. sarah lawrence

    sarah lawrence Recruit

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    Rightly said.Practice indeed makes perfect. :)
     
  10. audrey collins

    audrey collins Recruit

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    Yep I agree with that too. Demo trading has its uses for experienced traders as well. In that respect I think demo trading is something that will always be useful and helpful throughout our trading lives for trying and testing trade strategies.
     

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