first of all be careful who you listen too , this sort of question is going to awaken the marketers with terrible signals , from which ever hole they crawl out of .
Second of all a lot of people come to the forex game and say hints like , Ye l want to do this and make this. Why? Well because it's that golden ticket psychology , you saw an advert somewhere , where someone showed amazing enhanced performance , which was in likelihood false and non verified data. You watched ‘ limitless’ and thought yes he did it , l can do it. Okay so this is all ego and bullshit .
So no 1 get all the myth out your head .
Here's reality : this forex market was designed by banks and brokers designed for brokers to milk the crap out of you , the retail player . Based on Broker statistics you have a 96 percent chance of loosing all your money in 6 months . 63 % loosing it in two months .
This does not mean it will be you but there is a good chance it will be . In actual fact it is easy to make money in forex you just need to know what you are doing , you just need to get a couple of key ingredients down , so why do most people fail at the key ingredient ? Because they are counterintuitive , they go against every moral fibre
and motivation that we as humans are set up with . 50 $ daily , would require roughly 1k $ plus sized account , so do you have that money ? If you want to make 50 dollars in a risk controlled fashion , you will need over 1k
.but before you even start and get all excited about loading up on lot sizes .., Someone else wrote some good advice , open a demo account trade for at least six months in demo .
Read all of baby pips , forexpeacearmy , daily fx . Education. I would push you towards an Elliot wave , fib , and demand and supply zone strategy , but this will be your choice .
Ideally take an institutional trading course from an ‘ actual trader ‘ if you need help in finding institutional level courses or managed accounts if you feel forex is not for you
Which is the most suitable forex broker for beginners
Most suitable, depends on your own needs and what you are looking for in a broker. Hence, you will likely get different answers from everybody! It’s a bit like football teams, we all have our favorites.
My personal favorite is by far CedarFX. They have every asset I could ever think about trading and are the only company I have found who are making an effort to become totally carbon neutral. Very impressed by their customer service too so far!
For me it turned out to be fxview. And here’s why:
It’s regulated so as a beginner I didn’t have to worry about the safety of my money.
Fast deposits & withdrawals.
Flexibility with trading styles.
And very importantly, lower commissions and minimum balance requirements. Obviously as a learner I did not want to risk a lot of money and I was able to start trading with fxview with 100 euros and as I gained confidence and started winning, I increased my trading capital.
Some brokers also have their own trading systems. But not as powerful as these famous ones. I suggest to at first look at trading view and also download MetaTrader and open a demo account. MetaTrader is using by many brokers and is the most validated platform to trade forex.
Also if you want to trade or invest in Crypto
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