Better way to understand the Market

[Patrickkob212]

Trading has been a traditional way of approaching financial height. Is important that the coming youth start the learning curve now. Though is risky but life is all risky if you get the right knowledge you will be a better person. Begin the learning now is also a career to pursue.

 

[Sotherefore]

I know forex trading is risky but I don't advise newbie to make an offence if they are not really serious to learn about it because that is just a total loss talking from my experience in the past.. cryptocurrency may even take you up to one year before you are capable of predicting the market perfectly just as the same as for us so it is not a get-rich-quick scheme and that is what people needs to understand.. going there with the mind of making quick money might leave you disappointed
. It is better to learn and be an expert than to trade as a novice and fail.

 

[Kingstone]

It did not take me a month to understand forex because I was already acquainted with trading Binary. All I needed to add is to read the news and see how they are going to affect a given currency. Trading forex can be very promising and vice-versa. You decide how you want it to be by learning it very well before you begin to trade. Understand the risks involved and how to manage the risks. Losses will kick in but your ability to not give up will be your strength to recover them

 

[moonchild]

Wonderful submissions from the commenters.

I'll advise young people to learn forex trading, it's the absolute way to financial freedom and after you master it you'll be unstoppable, you don't need anybody again, all you need is a phone and internet connection that's all.

And the wonderful thing is you can learn this amazing skill for free on YouTube.

You can also download mt5 on play store and open a demo account and start practicing asap, in forex we learn by doing, reading theories is good but learning on your charts is the deal.

Never use real money till you're sure of yourself and your strategy.

 

[Patrickkob212]

I know forex trading is risky but I don't advise newbie to make an offence if they are not really serious to learn about it because that is just a total loss talking from my experience in the past.. cryptocurrency may even take you up to one year before you are capable of predicting the market perfectly just as the same as for us so it is not a get-rich-quick scheme and that is what people needs to understand.. going there with the mind of making quick money might leave you disappointed
. It is better to learn and be an expert than to trade as a novice and fail.

Yes you are right thanks a million

 

[JoeSeki]

For me, the best way to understand the market is through reading and practice. Read books, articles, news, charts and then try to implement that knowledge on a demo account. However, not everyone is interested in reading and so they can indulge themselves in watching YouTube videos or take an online trading course from a reputable company.

 

[ATM Trades]

Forex Analysis is used by retail Forex day traders to determine to buy or sell decisions on currency pairs. It can be technical in nature, using resources such as charting tools. It can also be fundamental in nature, using economic indicators and/or news-based events.

 

[tetramorium]

Sometimes you need to restrict yourself from taking any action and should only see how the market works. There's a huge difference in the way you look at the market when you have to take a trading decision and when you just see how everything works without having to trade. Best understanding of the market only comes when you focus on the market reaction at different situations.

 

[eldavis]

The truth of the matter is that one thing that makes forex trading so unique and different is that no matter how much knowledge you have, it can never eliminate losses but it can help you manage and limit it and in some cases even avoid it. If am not mistaken I believe everyone here has had some losses in forex trading before. This is why it's best for anyone going into it to go for proper training and gain the right knowledge, and also understand what you are going into and the amount of risk it has as well.

 

[Victorial]

That is very true. Trading has been a good way to help us achieve financial freedom. That is why I would always suggest that students should find ample time to learn forex trading. That was my biggest mistake as I was hoping that a nice job awaits me after graduation.

With trading, you can set yourself up for life if you believe in the process. You just have to master the skills and get some experience from demo accounts before you venture into a real account. A real account will teach you more lessons. It will test your emotions and once you are over them, you have become a professional trader.

 

[Chlamys]

The best way to understand the forex market is by being a part of it. Otherwise, you will only read about how people have felt when they traded.
For newbies who can’t keep patience to gather information about forex trading in the live market, gaining experience is a far away thing. Some of them are too curious to make money that they get into revenge trading when they can’t see the money they expected to see. We all make losses but our careers don’t end there. It’s important to note what went wrong and ensure not to repeat the same mistakes ever again.

 

[Zonked]

The better way to understand the market is by knowing what causes the market to move. When you keep up on all types of necessary information that has the power to make an impact on the market, you naturally learn the functioning of the market. I know that some only focus on technical analysis. They believe that technical analysis can make them know everything they need to make any decision in the market. However, I feel that if you really want to understand what goes behind those price movements you should make fundamentals an important part of your analysis.

 

[cadelynch]

Understanding the market is a time-consuming process and I suggest not overlooking doing this because your goal is to stay for long in the market. · Start with getting the basic forex knowledge to lay the foundation. · Make use of a demo account to practically see what you have learnt. Test different functions of the platform, and trading strategies. · Open a micro trading account where you will be able to trade with small amounts that you can afford to lose. · Keep a trading journal to enter information about your trades so that when you review your trades, you know what changes need to be done to get better. · Don’t repeat the same mistakes that led to losses in the past. Make sure that you keep learning along the way because that’s what makes you a successful trader.

 

[Setho]

I am somebody who believes that your chances of making money in there forex market is going to be very high if you actually take out time in order to gain valuable education and how you can be able to navigate the market effectively. It is also important that you should gain experience with trading small funds first and I usually advise that you should deposit $10 first of all and see how you are going to perform before trying to deposit higher amounts like $100. This is actually going to make you to understand just how difficult it is to flip money.