Trading Discussion What are the beginners guide towards forex trading??

I'm not a forex trader, I'm trying to learn and to join the elite forex traders. I'm a crypto trader making use of binance exchange to trade, invest in other crypto options to earn money when the market favours me.

Now I'm turning my attention a little to trading on forex to fancy my time achieving financial success with time. I'm not in a hurry to trade forex, cos i know being anxious to make profit can make me lose it all. That's while I'm taking my time to ask this question to know the scope, strategies to use in order to cut short my losses when my trade aren't going as planned due to market fluctuating to the wrong side.


In crypto we make use of stop-loss to determine the amount you are to take as profit and the amount you accept as loss when placing a trade. I believe same applied to forex trading but I'm not too convince.


How can a beginner in forex trading avoid losing too much funds more than he or she expected when the market is turning opposite??

And how can you turn the table around making profit around forex trading??

Share your experience so we learn together, thank you.

Forex trading requires a lot of knowledge. If a trader cannot acquire knowledge, he will never be able to gain profit from trading. I have been trading for a long time but I will not be able to make a profit until I get the right knowledge. So I have to trade with a positive mentality.

Dita Walczak said:

Forex trading requires a lot of knowledge. If a trader cannot acquire knowledge, he will never be able to gain profit from trading. I have been trading for a long time but I will not be able to make a profit until I get the right knowledge. So I have to trade with a positive mentality.

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Gradually you're moving, even if its not all that successful for you at the moment. Learning from others who are well acquainted around forex trading will help you a lot building your experience high, to know when the market is a little but favourable to trade and when it is not. I'm not a forex trader, but I'm willing to add it up on my list of skills online and make profit from it in the future.

Forex is a professional work that requires specific knowledge and skills. Once you have necessary skilled, you can do it just by spending one or two hours per day. But for learning you have to put your efforts and dedication. One more thing learning doesn't happen in one or two months. You have to spend good amount of time depending on your level of understanding and other factors. I'm trading Eurotrader. It is a good forex broker. It's trading platform is marvellous. There's no requote or postponement in trade execution. Their withdrawal procedure is additionally instant without any charges.

Jack Reacher said:

Forex is a professional work that requires specific knowledge and skills. Once you have necessary skilled, you can do it just by spending one or two hours per day. But for learning you have to put your efforts and dedication. One more thing learning doesn't happen in one or two months. You have to spend good amount of time depending on your level of understanding and other factors. I'm trading Eurotrader. It is a good forex broker. It's trading platform is marvellous. There's no requote or postponement in trade execution. Their withdrawal procedure is additionally instant without any charges.

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Thanks for bringing your knowledge here about forex trading. I'll only learn when experienced members like you talked vividly about forex trading, and scopes, techniques i can use to trade forex. I'm a crypto trader, using binance exchanger. Both forex and crypto trading looks similar, and are risky that's why experience is needed in both.