Advice for someone who is interested in forex trading?

Bookwormlux

Valued Contributor
I have been reading about different ways to make good money online and a lot of people have suggested that forex trading is one of the best ways to make money online. Though some said it is a very risky venture and so it is not advisable especially for someone who does not have enough money to spare. It is not going to be nice because a single loss could make you lose everything so those who are not having lots of cash would find it difficult coping after a loss as huge as this that is common in forex trading.

I believe there are people who have knowledge about forex trading here, what advice do you have for me and anyone else who may find your contribution helpful? I am interested in forex trading but I need advice before I start.
 

Ivo Zetticci

Verified member
Different traders have different choices over currency pairs for example I like trading in EURUSD and GBPJPY. To identify support and resistance, you can use fibonacchi and other indicators. Support and resistance will help you catch the exact market trend. FXOpulence offers more than 28 trading pairs including cryptocurrencies.
 

FXOchartist

Active member
If you are still really new in forex trading, I suggest only trading in a demo account, in this type of account only uses virtual money provided by the broker, it is not real money but the market conditions pair prices is the same with real market conditions, in demo account you can test and don't only rely upon lucky because relying on lucky will never last long. You can install the trading platform MT4 or Ticktrader by FXOpen broker and create a demo account for free. Spent time learning to trade before spending money to make money.
 
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