Forex Basics - What is Forex?

[Eduardo Lucchese]

Very good writing. It will be very effective for many new traders.

 

[Gito Dinev]

In my opinion, forex is a more interesting market and easy to earn than any other market.

 

[Mark Dahl]

I see; there have so many advanced answers! That’s the power of this community! No doubt, this is one of the best Forex community ever!

I also agree. It is a very helpful forum.

 

[David Marco]

Forex is not a money-making machine. If you want to make a profit here, you have to develop skills first. And need to collect information. Need to know about money management and risk management. It is better to focus on education without focusing on profit. Profit will be automatic if you have proper knowledge about trading.

 

[Cooper Truebridge]

If a trader is a professional, he should have an idea about the basics. Because without knowing the basics, he will never be a successful trader.

 

[Alicia Lynch]

Forex trading is a foreign exchange currency. This market is governed by supply and demand. It is possible to make money by buy/sell here.

 

[Alexander Hudson]

You have to learn all the basics of forex properly before investing your money in this risky market.

 

[Gito Dinev]

Many traders fall flat in the midway through their trading journey just because they don’t feel that they should strengthen the basics of their trading.

 

[Nayek Pichai]

Even profitable strategies will make you unsuccessful in trading if you are addicted to over-trading.This practice of over-trading should be deducted to attain trading success; otherwise trading success will become a mirage for traders.

 

[LouBega88]

Basics development takes some time but it is ignored most of the time just because new traders want to jump inti trading quickly.

 

[SaadBinToha]

Right plan always leads a trader ahead but majority of the traders are failure in this area. Consider market condition for making the best market plan.

 

[Gito Dinev]

Forex is risky so you have to stay careful. Better understanding over the market must increase your return.If a trader wants, he can take lessons by seeing others’ market analysis.

 

[LouBega88]

Basics development is a little challenge for traders but it’s not something impossible because internet has made it easy for us.

 

[Bahiya Shinam]

The use of leverage, risk management policy, money management, utilizing tactics of trading platforms are things to learn to develop the basics of a trader.

 

[Nayek Pichai]

Forex is mathematical so you have to analyze the market to predict its future movement. The best way to survive in Forex is making portfolio because avoiding mistakes completely is impossible.

 

[Bahiya Shinam]

Every trader should use such strategies that help them reduce the number of losses. Due to the uncertainty of the market, traders lose.

 

[LouBega88]

Before entering forex, traders need to strengthen their basics like they should learn how to analyze the market fundamentally and technically, how to place orders etc.

 

[Gito Dinev]

Through reading articles, watching youtube videos, traders can nowdays strengthen their basics. There are available paid courses too to develop trading skill.

 

[Nayek Pichai]

Traders nowadays nurture an inclination of trading on real account without obtaining efficiency. It’s the first and foremost mistake they mostly commit.

 

[Gito Dinev]

We have to nurture willingness to learn forex and earn from it. Here, I cannot help giving more pririty to learning over earning because the intention of earning is hampered without learning.