relcap23 Posted March 16, 2023 Share Posted March 16, 2023 As a newbie, I want to know how to start getting into forex venture. How much is the minimum amount to start? Quote Link to comment Share on other sites More sharing options...
bigxy Posted March 16, 2023 Share Posted March 16, 2023 The first chapter is to learn how to make money and while you learn use a demo account to practice your skills. Almost every reputed broker offer demo account for free so you can download it from anywhere and practice it for at least a minimum of six months before moving to any live trading account. Quote Link to comment Share on other sites More sharing options...
relcap23 Posted March 17, 2023 Author Share Posted March 17, 2023 Thanks for sharing, so this is something that must be mastered before getting into the real action. Quote Link to comment Share on other sites More sharing options...
mutlutopuz Posted March 19, 2023 Share Posted March 19, 2023 On 3/16/2023 at 2:39 PM, relcap23 said: As a newbie, I want to know how to start getting into forex venture. How much is the minimum amount to start? Forex trading can be an exciting venture, but it's important to remember that it can also be risky, especially for beginners. Here are some tips to get you started: Learn the basics: Before you start trading, it's important to learn the basics of forex trading, including how the market works, the terminology used, and the risks involved. You can find a wealth of educational resources online, including articles, videos, and courses. Choose a broker: To trade forex, you'll need to choose a broker. Look for a reputable broker that is regulated by a recognized authority. Consider factors such as fees, trading platforms, and customer support when choosing a broker. Open a demo account: Many brokers offer demo accounts that allow you to practice trading without risking real money. This is a great way to get familiar with the trading platform and practice your trading strategies before you start trading with real money. Start small: When you're ready to start trading with real money, it's important to start small. Many brokers allow you to open a trading account with as little as $100, but it's recommended to start with an amount you can afford to lose. As you gain experience and confidence, you can gradually increase your trading capital. Manage your risk: Forex trading involves risk, and it's important to manage your risk carefully. This means using stop-loss orders to limit your losses, not risking more than 1-2% of your trading capital per trade, and avoiding over-leveraging. Remember, forex trading can be risky, and there is no guarantee that you will make a profit. Take the time to learn the basics, choose a reputable broker, start small, and manage your risk carefully. Good luck! Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted March 30, 2023 Share Posted March 30, 2023 On 3/17/2023 at 4:59 PM, relcap23 said: Thanks for sharing, so this is something that must be mastered before getting into the real action. Forex traders will need to make a trading based plan so that the income could be started. Quote Link to comment Share on other sites More sharing options...
bigxy Posted April 6, 2023 Share Posted April 6, 2023 Trades plans does not ensure any earning because we must learn the skills required to make money in the forex markets. Quote Link to comment Share on other sites More sharing options...
radex78 Posted June 20, 2023 Share Posted June 20, 2023 On 4/6/2023 at 7:45 AM, bigxy said: Trades plans does not ensure any earning because we must learn the skills required to make money in the forex markets. Trading plans help us to manage the risk level in everyday trading, if trading blindly without a trading plan, could make over trading and the risk could higher. Quote Link to comment Share on other sites More sharing options...
BTCETH Trader Posted July 10, 2023 Share Posted July 10, 2023 On 6/21/2023 at 4:10 AM, radex78 said: Trading plans help us to manage the risk level in everyday trading, if trading blindly without a trading plan, could make over trading and the risk could higher. When our Trading plans are good then we also stand a chance to gain more profits. At the same time we have to understand the facility ofunified payments across Europe thru SEPA. This is why it becomes important for us to know about What is SEPA and how does it work? Quote Link to comment Share on other sites More sharing options...
bigxy Posted July 21, 2023 Share Posted July 21, 2023 We might require a trading journal for reviewing periodically and improving our mistakes so we can manage our trades more efficiently in future. Quote Link to comment Share on other sites More sharing options...
radex78 Posted July 25, 2023 Share Posted July 25, 2023 Learning forex is long-term journey, forex trading is a risky business, and not everyone suits to forex trading. This is the need for passion for working in business and high dedication also motivation. In te beginning trading usually faced many times difficulties how to catch a profit, along the times learning, later gets easier to catch a profit in trading. This business needs high patience to work out. Quote Link to comment Share on other sites More sharing options...
jamante Posted July 26, 2023 Share Posted July 26, 2023 you can start with as low as 5-50 (if my memory serves me right that should be the minimum at hfm which i trade with) but before u decide to go live, I suggest learning about forex first, babypips.com has a good free crash course about forex that should help you a lot. Quote Link to comment Share on other sites More sharing options...
radex78 Posted July 26, 2023 Share Posted July 26, 2023 First for beginners start with reading many resources forex to get more insight, while learning by reading you can try demo ECN FXOpen for learning by doing. Trading in the demo is free without any risk. Test skills and make sure to find suitable trading strategy with profitable results. Because working in a real account is harder than a demo, you must have strong psychology. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted January 23 Share Posted January 23 On 7/27/2023 at 3:37 AM, radex78 said: First for beginners start with reading many resources forex to get more insight, while learning by reading you can try demo ECN FXOpen for learning by doing. Trading in the demo is free without any risk. Test skills and make sure to find suitable trading strategy with profitable results. Because working in a real account is harder than a demo, you must have strong psychology. When we are trading in the Forex markets we must try to use our trading based skills in a better way. Quote Link to comment Share on other sites More sharing options...
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