Dora Wi

I would advise you to get started with a reputable centralised exchange such as Binance or Coinbase. Those are your safest bets. Once you have some more experience and have done your own research, only then should you look at less well-known options. Scams are frequent in the crypto space, so you have to be careful.

It's understandable to be confused on terminology in the beginning, especially when you don't even know what you don't know yet. There are some great educational sources out there like Coinpedia and Investopedia, as well as news sites. As you read more and more things, you will come across lots of terms that you can then look up and learn. Eventually, you will see less and less unknown words.

Neither of them is more reliable than the other - they are best when they are used together. Fundamental analysis is great for spotting trends and speculating on the general direction of prices, while technical analysis is the one that will help you determine when to enter and exit a trade exactly.

Copy trading can be a very risky business. I'm not saying it's necessarily a bad idea, but it shouldn't be used as a way to bypass the process of learning to trade by yourself. You also need to know the ins and outs of trading to be able to make the right decisions about who you copy.

I also think it is very useful to get started with a demo account. It lets you make mistakes and learn from them without the risk of losing money.

It can be difficult to find a trustworthy broker indeed, but it's not impossible. In my experience there is quite a wide array to choose from.

Rober1125, I think you got the language and the topic a little wrong...

This is very true, with the economic effects of the pandemic and the war between Russia and Ukraine, it is hard to navigate the markets. The only advice I have is that we need to rely on fundamental analysis even more than usual as well as take into consideration the rate of inflation in different parts of the world.

While it comes with its own risks, shorting an asset when market conditions get tough is a great way of ensuring you still make good profits.

Even if emotions and trading are a bad combination, they are also pretty much inseparable. You cannot prevent yourself from experiencing negative or damaging emotions - the key is to learn how to deal with them in a healthy way.

The original poster made really good points. I would also add that it is important to know your own limits mentally and emotionally so that you only trade when you are up to the task. Demo accounts are also a good idea - they can help you make mistakes and figure things out slowly without losing money.

Indeed there are a lot of advantages, and the emphasis is on learning rather than earning since it can take a while to figure out how to make trading work for you. I would add, though, given the original post, that the forex market does sleep - it is open 24 hours but not every day, as exchanges are closed on weekends.

This is very sensible, one of the worst broker-related experiences is working with one that is not trustworthy.

I also think we need to be careful in selecting a broker because the safety of our money is a top priority. Beyond safety, though, it is up to the trader to achieve success - if we don't do it right, no broker is going to make us successful.

I agree with some of the previous comments saying you should choose a regulated broker. Make sure to do your research and see if a given broker is regulated by a legitimate entity. This is the first step for choosing a safe option. The second step is, check if a broker is reputable.

I don't think there is such a thing as a universal best online business - different ways of earning will work for different people, depending on their skills, preferences and goals. That said, forex is a pretty good business as long as you know what you are doing. There is a lot of potential within it.

I don't really think earning in a demo account is easy for a beginner - it can take time to understand and be able to apply all the technical things that are needed for profitable trading. It is easier to get results on demo than a real account, though, and that is because trading psychology effects don't apply on demo. So transitioning to a real account should be done carefully.

As far as I know, no trading platform is completely "free" - you pay for their services in spreads and/or commissions and it is impossible to avoid both.

I'm not sure what you mean. Can you elaborate a bit or provide an example about what exactly you need help with?

I don't know this indicator in particular but in general, indicators can help call your attention to significant happenings in price movements so that you don't have to constantly monitor the charts yourself while trading. Not all indicators that you can find on the internet are useful, but if you have a good basis of trading knowledge and know learn how to set and use an indicator properly, they can be very helpful.

I totally agree, choosing a broker that is regulated by a legitimate regulatory body can save you a lot of trouble. Generally speaking, regulated brokers are much safer to use than unregulated or offshore ones.

Do you consider trading based on the concept of being overbought/oversold easy to understand?

What do you mean? There is nothing about scalping that is not legal. Whether it works or not will mostly depend on your experience and capabilities.

To do this, we also need to be able to determine whether our losses are a result of our mistakes or just a normal part of trading. Losing trades are normal; the problem is when our losses are excessive. To avoid the latter, we need to use good risk management.

How much profit you make depends very much on your timeframe, trading strategy, capital and the amount of time you spend trading. In general, it is better to set a longer-term profit target, or an average daily target, since not every trading day will bring the exact same results.