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That's the simple understanding of Forex but on making profits and have profitable strategy will be the most difficult thing to have in Forex. And also the trading psychology that the emotions can't easily manage just that we can only reduce the intensity of our emotions.
Yes,I agree with you,you can know what forex trading is or even know forex basics,but the difficult part is,how to make profits or gains in trading. One must have a working skill or strategy before he/she can make profits in trade.That's the simple understanding of Forex but on making profits and have profitable strategy will be the most difficult thing to have in Forex. And also the trading psychology that the emotions can't easily manage just that we can only reduce the intensity of our emotions.
Yes,I agree with you,you can know what forex trading is or even know forex basics,but the difficult part is,how to make profits or gains in trading. One must have a working skill or strategy before he/she can make profits in trade.
Sure, and what makes any business easy or difficult is the end product and in the case of Forex, since everyone into the business is working towards one and the same goal which is profit, it wouldn't make any sense just to know the basics without the skills to succeed in it.
Yes, my post was based on cutiekc's (#364) which Riddick09 replied and I affirmed to it. We all know that the basics are the first thing to understand in Forex but you know, you can't easily succeed in it without the skills. One who know the basics alone can't make any good profit in Forex if he is not involved in the practical aspect through trading in Demo.Basic just the first part to get skills in forex, for me what is the basic thing is knowledge, first you need to know what is forex is and how to get money and profits there, also other terminology and also some meta traders function and feature that we will use later, and then practice itself.
Well, eventually it will be hard to make money and that we will going to have here obstacles and hindrances in our success and yet, the traders will need to experience what will be wrong in their trading or what is lacking on them to fill it up and to have reach for their goals slowly.
Yes, thats true it will be hard simply because it will be invariably hard to start some new but as soon as we keep it going we will get used to it whereby also be able to make good money from the business, on the other hand knowledge and skills has always been the key to attaining success in forex trading. Thats why there is need to understand in details the meaning of forex trading because though it is said to be the buying and sellong of currencies but there are more added to that.
Of course,forex beginner or newbies needs a demo account but the demo account is not really what matters,getting a demo account is so easy but they need to know his have the basic requirements that they can use to make practise in the demo account.Well said, that's why it may be good to spend a lot of time using demo accounts for trading practice before venturing into the real trading but the problem is that newbies may not have the patience to wait that long to gain experience before embarking on real trading. They all want to make money from forex quickly.
I think that is the fact in trading on markets, many move into forex with the intention of earning as fast as possible, with mission of fast money. But forgetting that forex has the fundamental facts facing it's members newbies world wide...and without that knowledge and skill, they will be loosing money and time as well...learning forex more is still advised
Of course,forex beginner or newbies needs a demo account but the demo account is not really what matters,getting a demo account is so easy but they need to know his have the basic requirements that they can use to make practise in the demo account.
Well,when you talk about the chances of making higher profits with higher capital without considering the risks involved in forex trading,then that trader is just a greedy trader and most of them that does this rushes out of it cos they get MC most times. They never bothered to learn,they just feel it is a lucky business.