Forex Trading For Beginners 2
CAN YOU MAKE MONEY TRADING IN FOREX?
If you are a beginner, YES, you can make money trading in Forex. BUT it will be mere LUCK.
Without the Right Training you will lose your money. Forex trading is a profession, it's not as easy as you may think. 90 to 95% of traders lose their money. Do not lie to yourself and believe you are among the 5%. Maybe later but not now.
Even after reading and watching webinars, you will have to train yourself on a demo for at least 6 months. But just know that being "an expert" on a demo does not make you an expert in forex trading.
What is the Difference Between a Forex Demo account and a forex Live account?
With a forex demo account you are wetting your feet. It's a trial account. You are given virtual money to test your trading strategies without risking real money.
With a live account you are in middle of the sea, you better know how to swim. It a Real account. You deposit real money, trade real money and your loss or profit is real.
Your emotions are in alert and on a live trading account you will see different spreads, execution and slippage. Slippage can occur at any time but mostly durring a periode of high volatility. You can get emotional and under stress make a lot and I say a lot, of wrong decisions.
So, what can you do? You can join a well known and regulated broker like Pepperstone and Learn the basic with ICMarkets Education while copy trading.
Have you ever tried copy trading?
You can Follow and Copy trade from popular traders while learning how to improve your own trading. ICMarkets has partnered with 5 social trading platforms to help you access strategies from the world's best traders.
1. Myfxbook: An account mirroring service that lets you copy trades without the need to run software.
2. ZuluTrade: Copy trades directly into your account and run them on Zulutrade's own servers.
3. Mirror Trader: Access over 3,000 global, verified and tested algos.
4. MetaTrader Signals: Access thousands of strategies from MetaTrader's own social trading platform.
5. DupliTrade: A marketplace of signals automatically traded on your own MT4 account.
BUT! Yes, there's a BUT!
Do not at anytime set bigger lots than your deposit allows! Even if you think you are winning. Some bad or good news can come and your deposit will go with the "wind". And as a beginner I think you should always set 1 micro lot(0.01) at each open position no mater how big your deposit is.
26. Jún, 2020
Your objectif will be to Remain in the market! Earn little and perfection your skills.
And here, Learn with the Best!
To be connected to a copy trading of your choice. Log into client area, click on Request New Account and on "Comment", write the name of your chosen copy trading platform.
That's it for today! If you have any questions or a comment please feel free to leave a message below. And if you think my post useful, Please Share!
Thanks,
Kinginvestor
kinginvestorss@gmail.com
Disclaimer: Forex trading can be challenging and potentially profitable opportunity for investors, however, it carries a high level of risk and may not be suitable for all investors. You should not invest money that you cannot afford to lose!