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How To Start Trading ? | Introduction

Discussion in 'Forex Beginner Q&A' started by George Torrent, Jan 19, 2016.

  1. George Torrent

    George Torrent New Member

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    Trading is an active style of participating in the financial markets that seeks to outperform traditional buy-and-hold investing. Rather than seeking profits from long-term uptrends in the markets, traders look for short-term price moves to profit in both rising and falling markets.

    Approaching trading as a business is vital to success because trading is a business. A successful trading business requires a strategic plan that covers your actual business and your actual trading. Your business plan will include things like short and long-term goals, the amount of capital you have available for the business and how you will set up your office. You trading plan includes the details of trading: what you will trade and how you will trade it. Your plan should be so objective and concise that you could hand it over to another trader and they would be able to execute it exactly.


    It’s important to understand that your trading plan is not simply a set of rules that you think will work or a list of set-ups that you are somehow fond of, of someone else’s plan. A good trading plan is one that you have researched, tested on historical data, tested in a live market and evaluate at regular intervals.

    Successful trading involves more than reading a few articles or books; you should plan on devoting a substantial amount of time and effort before ever placing a trade in a live market. All this research and time may sound daunting, but it is realistic and integral to becoming a profitable, independent trader.


    Read More at http://www.capitaloneforex.com
     
  2. Fxtrader88

    Fxtrader88 New Member

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    One more option for starting trading is to use no deposit bonus like $1000 no deposit from freshforex. You can even withdraw the profit from this bonus.
     
  3. orni308

    orni308 New Member

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    I think one of the thing that a trader should realize that trading is a difficult task so he should analyse whether he could trade in the market or can he understand the market working by opening an demo account and trading in there, and then come to conclusion of whether its a good place to invest or not.
     
  4. Blossom

    Blossom New Member

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    Now Forex trading is more global business for all, To start trading you need honest broker but first you need is a good knowledge of trading. So learn well and earn well.
     
  5. PapiaKhatunAsha

    PapiaKhatunAsha New Member

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    I think demo platform is the best of the best place to involve in Forex trading as here there is no need to invest any money even here we can use all strategy nicely so I suggest all to start your career by demo platform not real platform.
     
  6. platinumtraderfx

    platinumtraderfx New Member

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    Well apart from training on demo you can also earn there participating in demo trading contests like Hotforex holds for its traders https://www.hotforex.com/hf/ru/contest/demo-contest.html . Cash prize is 1000$
     
  7. Blossom

    Blossom New Member

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    Right, Demo trading is best for a newbie to start trading without any risk. Using demo trading one can learn lots of things in forex market.
     
  8. platinumtraderfx

    platinumtraderfx New Member

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    Hi guys I'm using Hotforex demo with their live account btw do you is it better to test EA's and paid advisors on live or demo account? Will results be the same?
     
  9. Blossom

    Blossom New Member

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    Ever notice an EA that performs exceptionally well on a demo account. But if you want to check it on Live account then i will suggest to have small account to test it out correctly.
     
  10. jologs

    jologs New Member

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    there are difirences between demo and live, EA results might vary but it will give you a clear idea and its good for back testing, take into account different parameters of the equation, i mean there are many things to consider when trading live.. though im no ea expert and most my tradings at lmfx are manual anyaway
     
  11. Blossom

    Blossom New Member

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    Start as you deem appropriate for your physical circumstances. There is no restriction of amount to start forex trading. You can strart forex trading only from one dollar.
     
  12. Mistalee

    Mistalee New Member

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    Demo Trading would be the best way to start trading, you need to be aware of various aspects of Forex Trading and you could be with the help of Demo Trading and that too without the risk of losing money.
     
  13. tiptip

    tiptip New Member

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    I was new to trading 2 years ago but i had to find a good platform so i started using different brokers and i have to also say that i found some sources of educating myself in FreshForex and they also had a good platform that i could work with as i was new to trader and now thanks to them i know how to earn money in Forex.
     
  14. Mistalee

    Mistalee New Member

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    Glad to know that you are doing great and I hope that in future also you will maintain such profits.
     
  15. Blossom

    Blossom New Member

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    Yeah, there are so many traders who are still struggling with trading to recover loss. That is why Forex is risky, knowledgeable person can money from it easily.
     
  16. Mistalee

    Mistalee New Member

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    Yeah...! Forex is a risky business, but it depends upon the traders that how they turn this element of risk into rewards.
     
  17. Blossom

    Blossom New Member

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    Every trader has different mind from the other one so we can not predict what is going to happen. Taking risk is trader's personal choice but we can only suggest better options.
     
  18. sininfinity

    sininfinity Active Member

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    There is no easy money for a trader in this business or any other business I know. There are risks involved and a trader has to do hard work to develop something that works for him for a long time.
     
  19. Martha

    Martha New Member

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    Forex is a worldwide business and people from all over the world are trading forex. If you are going to start forex then you already know that forex is very risky business and you can not succeed in Forex if you have no skills and knowledge about it. So before choosing a broker you must learn about Forex how to trade and how to avoid mistakes in this business. Also broker should be reliable and regulated.


    trusted fx brokers
     
  20. Mistalee

    Mistalee New Member

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    Forex may be a risky business, but a good trader knows how to turn this risk into rewards and you need to practice trade to become a good trader.
     
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