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Forex Trading

jonassjonass Posts: 1 ✭
in General
Hello everyone,
lately I am more into Forex Trading and I want to know what are you experiences with Forex Trading. Do you have any Tipps for me ?
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  • OkaneOkane Posts: 1,282 admin
    jonass said:

    Hello everyone,
    lately I am more into Forex Trading and I want to know what are you experiences with Forex Trading. Do you have any Tipps for me ?

    Hey welcome.
    Well, just like binary options, start with a demo account.
    Use proper money management. For example, I prefer to not take trades
    when risk to reward is smaller than 1:2.
    Focus on reading charts and read our guides.
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  • andyyandyy Posts: 4 ✭
    edited June 2018
    Hello jonass
    You need to find good Informations about Forex Trading... You can find it on free public forums, but there are also a lot of spam there too. Many times, the good traders get tired of all the nonsense that are written on these forums and at some point, they stop writing. So you need to find a good Website with all the Information you need to be a good trader. //Url removed. don't promote websites. //MOD.
    One thing I always say to "newcommers" is don't think that you will start making profit overnight. Forex trading requires a long period of studying and practice, and even then a lot of people struggle to be profitable. It's a long process and it's good to trust your own decisions, but those decisions must be made on the basis on what you see on the charts, not what you want the market to do.
    Hope I could help you a little bit.
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  • JiglerJigler Posts: 71 ✭
    Forex trading is the new way of trading. You can trade from your computer in every kind of currency. This is the new way of trading and it is also a digital trading. It has a huge amount of liquidity as it changes every second you must be very careful while trading in the forex.
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  • Gook32Gook32 Posts: 60 ✭
    Hello friend! I have good experience of trading on the Firex market as I am trading from a long time. I love to guide the new traders as it gives me satisfaction. You can ask any question to me if you have any sort of problem related to it. Looking to hear from your side!
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  • BossBoss Posts: 77 ✭
    I have been trading on the Forex market from a long time. I have good experience of trading gold and silver. I think the price if gold is showing a weired behavior over a past few months. I have lost a lot during this period. I am quite worried now a days!
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  • BossBoss Posts: 77 ✭
    Forex trading involves dealing with the forieng currencies and let the people to do trading its a quite complex task and require a lot of hardwork and commitment in the easy wording the forex is the buying and selling of international currencies but these trades require professionalism.
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  • LiverekhLiverekh Posts: 24 ✭
    I find BO more easier to trade, but there are some similarities.With BO you have only two options put and call and strike price.Similarly with forex, you can go long or short on a currency, but spotting right exit levels, which would be something equal to striking price, is not quite easy job to do
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  • Gook32Gook32 Posts: 60 ✭
    Forex trading is a vast field where you have a lot of options to invest in. You can choose the currencies, brokers, and any thing related to this market. The diversity of the market is the most attractive feature of forex trading as far as my experience is concerned.
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  • ChillwoodChillwood Posts: 63 ✭
    Tips for forex trading: Start with demo and/or micro account before going live; Get as much education as possible but never buy forex education; manage your risks well and never risk more than you can afford to lose; never trade without a stop loss
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  • YozshujindYozshujind Posts: 87 ✭
    For a trader to be successful in teh forex market, you need a good trading plan. However, you must have trading discipline for to follow your trading plan to the letter. Without which, you may end up overtrading or even trading without a stop loss and losing everything
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  • freddiemoneyfreddiemoney Posts: 5 ✭
    I have been trading Forex for a couple of years and I can tell you that it is not easy. I have used several platforms and brokers. I am currently trading with Forexchief broker, which is the only broker that did not rip me off; I withdraw my money anytime without issues. The point is that, you must choose your broker wisely, and probably start with a demo account for a few weeks. Move forward to a real account only when you are consistently making profit with a demo account.
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  • KeriusKerius Posts: 40 ✭
    Hi, welcome to the platform. Forex trading is a risky business, just like Binary Options trading. You should first start with a demo and get as much relevant forex education as possible. Never risk more than you can afford to lose, and ensur you manage your risks properly
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  • LiverekhLiverekh Posts: 24 ✭
    Trading Forex is hard only in the beginning. During time you will increase your skills and experience and everything will look much easier. You will see, in the beginning you will be focused more on indicators and charts, while later you will do analysis only by swift look at the chart
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  • HulapointikHulapointik Posts: 46 ✭
    The one thing that each trader should understand is that trading is not a kind of a game, that's real business and you should work hard to achieve success. There are no easy or free money there, but there is significant earnings for those who pay efforts on mastering skills and gaining new knowledge.
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