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  1. #1
    Join Date
    Jul 2020
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    162

    Basic knowledge of trading

    There are a lot of learning sources online. From where traders can learn all the knowledge that need to trade and analyze in markets. New traders should start with an easy-to-understand or basic knowledge of trading. I learned trading from my broker educational resources which cover how to control trading sentiment and manage risk etc.

  2. #2
    Join Date
    Aug 2017
    Posts
    1,326
    To trade in forex knowledge is very important. Without the knowledge of forex a trader can lost all his investment. A trader can gather knowledge about forex from anywhere. To get proper knowledge about forex a trader can take help of demo account. A trader can trade like live account in a demo account without any risk. I got knowledge about forex by trading with a demo account of Forex4you. It helped me to get all kind of techniques and knowledge about forex. So, demo account can be an important source of knowledge about forex.

  3. #3
    Join Date
    May 2020
    Posts
    1,473
    without knowledge of the process of working in this industry, you can only get losses and nerves. I would strongly advise against experiencing this directly for yourself.

  4. #4
    Join Date
    Jan 2017
    Posts
    984
    Bonus is a big deal when choosing a broker, but I have seen most of the bonuses cannot use at all due to margin stop outs. By the way, I am very lucky to choose LQDFX which is real STP Execution trading platform and for all time make sure 100% initial bonus that I am able to use at all times including lowest trading spreads as well minimum margin requirements. so, at all times I feel secure and comfortable when trading practically.

  5. #5
    Join Date
    Dec 2020
    Posts
    25
    Trading has its own basic concepts that everyone should know in order to start trading effectively, not that is why we need to go the concept of how it will work in practice.

  6. #6
    Join Date
    May 2020
    Posts
    1,473
    To work successfully, just basic knowledge will not be enough. It should be understood that a trader must have a good understanding of the essence of the work and all the little things of the work process.

  7. #7
    Join Date
    Jan 2017
    Posts
    984
    The best part of the forex strategy is money management Ėmake sure every time you trade , you donít risk more than 2-3% of you account otherwise you will break your account pretty soon. I learned that lesson from my own experience.

  8. #8
    Join Date
    Jan 2021
    Posts
    346
    in general, when someone is just starting to engage in trading, you need to immediately understand and study the basic concepts for yourself, because without them you will not go far

  9. #9
    Join Date
    Dec 2020
    Location
    Asia
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    1,136
    Quote Originally Posted by Diedriarekh View Post
    in general, when someone is just starting to engage in trading, you need to immediately understand and study the basic concepts for yourself, because without them you will not go far
    We have to understand that in the business of Forex trading the main factor is to be able to do Better Trades and with minimal amount of losses to us.

  10. #10
    Join Date
    Jan 2021
    Posts
    35
    In order to at least start practicing on a demo account, you must have basic knowledge of trading and how everything happens, and then you can further develop and supplement your knowledge.

  11. #11
    Join Date
    May 2020
    Posts
    1,473
    It should be understood that a trader gains basic knowledge while working with a demo account. When I started working with a broker from Amarkets, I started with a demo account in order to get the necessary experience.

  12. #12
    Join Date
    Apr 2017
    Posts
    714
    The newcomers always try to earn money quickly. It is quite impossible in forex. The newcomers should know the rules of forex market first. They should learn the basics of forex trading. To know the basic knowledge of forex practically they can create a demo account in TP Global FX. It will help them to trade in forex with lower spreads starts from 0.01 pips. It also give them high leverage which is 1:500 maximum. It can also be with them like a shadow in their forex trading. The trading system is very easy. For me, it is the best option to know about forex for the newcomers.

  13. #13
    Join Date
    Dec 2020
    Location
    Asia
    Posts
    1,136
    Quote Originally Posted by Graham McKenzie View Post
    The newcomers always try to earn money quickly. It is quite impossible in forex. The newcomers should know the rules of forex market first. They should learn the basics of forex trading. To know the basic knowledge of forex practically they can create a demo account in TP Global FX. It will help them to trade in forex with lower spreads starts from 0.01 pips. It also give them high leverage which is 1:500 maximum. It can also be with them like a shadow in their forex trading. The trading system is very easy. For me, it is the best option to know about forex for the newcomers.
    Those Forex traders who are newbie must have to understand that in the business of Forex trading the main and important factor is the development of the essential trading skills.

  14. #14
    Join Date
    Jan 2021
    Posts
    346
    you need to know basic knowledge in trading, because without this knowledge you will not have the slightest idea of how to work correctly, and you will just waste your money

  15. #15
    Join Date
    Feb 2021
    Posts
    9
    It is very important to know and understand the main and basic points regarding trading in this area, because without this basic knowledge, it is pointless to start trading.

  16. #16
    Join Date
    May 2020
    Posts
    1,473
    To get basic knowledge, the demo mode is perfect now. At least when I started working with a broker from Amarkets, I used just this option.

  17. #17
    Join Date
    Dec 2020
    Location
    Asia
    Posts
    1,136
    Quote Originally Posted by malopis View Post
    To get basic knowledge, the demo mode is perfect now. At least when I started working with a broker from Amarkets, I used just this option.
    We will need to increase our trading skills from this business and this will take time for us. If we want to become better traders we will need to use a better trading strategy.

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