Trading Discussion How To understand Forex Trading As A Newbie

[AmaliaTG]

I am not writing this as a Pro in Trading or anything but I just want to make myself understand the basic knowledge of Forex trading. You can comment below to help me out in understanding it. This is me pushing myself to understand it.
So I will start with what is Forex?

Forex is just the trading or exchange of foreign currencies for example USD to Euros. And Trading between different countries.
One country weighs the currency of another country to determine the value.
Understanding forex trading is very important because if you just jump into forex without having to learn about it then you will be risking your wealth or investment because there is a bit of few tricks that one is supposed to have to be able to manage and become rich in Forex trading.

Forex trading as an investor is all about making big money daily because it's markets changes daily.
Forex is an international investment And when you think about Forex exchange, you should know that it's all about you sending your money to be invested with other countries. One day you might find your money invested in a country like Canada and the next day you find your money invested in another different country like Europe and so on.

I am not sure about which Forex brokers I should trust but Forex companies are believed to be legit and trustworthy over the years. Just so you know, in opening Forex account you will need some amount of money to open an account. The amount of money depend with each Forex companies so my advice is that before you open an account with your precious money, please do research on that particular company and found out if it's legit or not.

This is just an introduction to forex world and I hope to be posting the depth details about Forex soon. Newbies like me, you can start with this knowledge. Good luck!

 

[Chibson]

It is very important that anyone who want to venture into forex trading must become an expert before doing so because if you don't you may lose your life savings. It is therefore very advisable to use demo account when you want to register on the broker because it can go a very long way in helping you become an expert in Forex trading.

 

[Wisdom01]

Its adviceable you become more inclined before trading forex and also always check reviews and other options , if you are unsure about the broker platform to use when trading , so you dont use a wrong broker and the end you regret and forex is not a get rich quick scheme making money through forex is a gradual process

 

[sincerem]

Its a gradual process it doesn't happen over night to become an expert forex trader. Those who are very much willing to get going through forex trading undergo training online or offline in order to increase their trading ability and make them trade more proficiently. We don't just rush into forex trading like that to make money it differs from crypto trading. More experience is needed with forex trading to record success.

 

[AmaliaTG]

Its a gradual process it doesn't happen over night to become an expert forex trader. Those who are very much willing to get going through forex trading undergo training online or offline in order to increase their trading ability and make them trade more proficiently. We don't just rush into forex trading like that to make money it differs from crypto trading. More experience is needed with forex trading to record success.

You are right, and that's exactly what I am trying to do. I am doing my best to get to learn more about Forex and how it works without any rush so that when I attain that knowledge, skills, tips and tricks about Forex, then I will be ready to invest in it and get profits from it . Am also starting to learn how crypto and bitcoin works. So that I can venture in either of the two.

 

[Chibson]

You are right, and that's exactly what I am trying to do. I am doing my best to get to learn more about Forex and how it works without any rush so that when I attain that knowledge, skills, tips and tricks about Forex, then I will be ready to invest in it and get profits from it . Am also starting to learn how crypto and bitcoin works. So that I can venture in either of the two.

There are a lot of people who have ventured into forex trading without knowing exactly how it works and that is the reason why they lose all their money. I am pleased that you are really doing a lot of research and also trying to know how exactly forex trading works and how to make money from it without rushing because rushing can make you lose all your money.