How do I trade Forex?

[geedy]

Yeah, Demo account would be the best way to learn about the Forex as it doesn't includes the risk of losing money.

And this days you get almost similar features to that of real trading account, the money is just the only difference I see.

 

[geedy]

Yeah, Demo account would be the best way to learn about the Forex as it doesn't includes the risk of losing money.

And this days you get almost similar features to that of real trading account, the money is just the only difference I see.

 

[geedy]

That's something to avoid.

These competitions are inevitably about profit-maximisation, in huge contrast to real trading, which is primarily about risk-management.

Two totally different and in fact diametrically opposed sets of criteria are therefore involved.

Contests are won by the players with the highest returns. You therefore need to reject any concept of "good trading" or a "good strategy", and throw most risk-management rules away.

For these and other reasons, demo contests tend to inculcate very bad habits and actively damage aspiring traders' chances of ever becoming successful.

I quite agree, but not many would want to reason in that line. Especially now that brokers have made so appealing that you can now withdraw money won from such contests.

 

[Esha.J]

In my experience indeed making profit in forex is not easy, sometime get profit and sometime loss, so because these reason treat forex as part time business making more comfortable

Making money is never going to be easy in any business, but our skills and knowledge make it happen. If we really want to earn money, we will find the way of earning.

 

[radex78]

I quite agree, but not many would want to reason in that line. Especially now that brokers have made so appealing that you can now withdraw money won from such contests.

Might if there are broker that provided demo contest withdrawable prize, this attract many trader to joined, but there are broker also giving easy rules to withdraw prize like as should making trades certain times with using whatever lot size

 

[mlawson71]

And this days you get almost similar features to that of real trading account, the money is just the only difference I see.

It is a pretty big and important difference though. Some things can be learned only when trading with real money.

 

[radex78]

Trading in real account usually different in emotion pressure that in demo account usually free from these emotion, as human nature actually no anyone want to losing real money

 

[mlawson71]

One does have to learn how to trade with real money at some point. That includes losing them, it's inevitable.

 

[systematictrader]

what is it?
i mean, i know what it is, but, how do you trade it?

EUR/USD for example. do you just look at it, set some targets and trade near support and resistance?

What do you look for?
Consider this a beginners thread and question.

Thanks!

forex or futures or stocks all the same, u invest 10,000 and the thing moves up or down 10% u make or lose 1000 dollars, its all dollars end of the day

 

[geedy]

Might if there are broker that provided demo contest withdrawable prize, this attract many trader to joined, but there are broker also giving easy rules to withdraw prize like as should making trades certain times with using whatever lot size

In the long run, our actions now might determine the end result. So extreme care is needed especially in the market.