How Profitable Forex Trading For Beginners?

[Riffraff]

Initially, it is hard to tell. You can’t expect to make money right from the beginning. You can copy trade and other traders can make money and learn at the same time. But it is not a good approach for a longer term.

 

[Accretion]

Beginners are most likely to lose in the first few months of forex trading despite spending time practising on demo accounts. But, they can minimise their losses by trading on a micro account and using effective risk management strategies.

 

[Leonardo_fx]

All profits depend on the deposit of the beginner and not only the beginner. If you manage to earn 10% of 100 dollars ... it's very little you understand, if you get the same percentage to earn from 10k dollars, this is already a tangible profit in money. Therefore, it is worth increasing your deposit to a comfortable amount.

 

[GlenWest]

The beginnings are the hardest for new traders as they have to struggle so much to find a way to survive in the market and all this is accompanied by losses and strategies that don’t seem to work. But once they gain some experience, things start to settle and you get better.

 

[Wisecrack]

It isn't going to be a cakewalk for beginners willing to trade forex. Yes, there is a vast study material available on the internet along with demo accounts for getting familiarized with forex trading, but real trading works very differently. So, beginners should focus on how to prevent heavy losses by trading small sizes and using stop loss effectively.

 

[peter9461]

For beginners, it can be profitable but it will be hard to expect high returns as they usually lack experience and knowledge. Gaining knowledge and develop a good trading strategy is more important for beginners as it will lead to more profitable trades in future.

 

[Polakandil]

That is your view and I respect it. However, I still think new traders should use real money account with a small balance, so they can learn to deal with trading emotions from the start. If you are going to use a demo account, be sure to deposit the same balance as you would use when trading real money, so that the transition to a live account is made easier; i.e. don't trade a $100,000 demo account and then transition to using a $10,000 real money account!

It is good to start trading in a real account with small capital, but a demo account is still good as a place to practice, it will depending the trader will use demo account, indeed it is not involved emotionally in a demo account, but if trader learns seriously to practice implemented trading strategy based rules, create plan trading for learning purposes, a demo account is good to create habit trading. a trader can start a demo account register through the MT4 platform and fulfilled the amount deposit that will use later in a real account, let say the trader can use $100 or $200.

 

[peter9461]

IMO it is always better to start with a cent account over a demo as trading with real money will teach you about trading discipline and how to handle your emotions. As trading with demo, sometimes you may make a much riskier trade than you would with real money. That isnt a good learning experience at all.

 

[Polakandil]

IMO it is always better to start with a cent account over a demo as trading with real money will teach you about trading discipline and how to handle your emotions. As trading with demo, sometimes you may make a much riskier trade than you would with real money. That isnt a good learning experience at all.

Micro account or cent account designed for a newbie trader, they can start with low budget trading, even broker over minimum deposit only $1, but this amount is too small, yes it is will involved emotion when using real money, but still useful to practice in demo account first if they really new in forex, they can learn how to use trading platform, so not get a mistake when working in real trading

 

[Bumblebee]

The first criteria that decides how much you can make from forex trading is your skills. As long as you are continuously learning and upgrading your skills, you can expect to get good rewards.

 

[LamarKenyon]

When starting off your career as a forex trader, you have to be the most careful of all times. You have to go according to your plan so that market distractions don't make you take steps that lead to losses. You have to take care of your risks by keeping investments low and still exploring the market to do all that needs to be done.

 

[jeanpatterson]

Beginners might have a hard time making money at forex trading since the market is always moving and it would take some time for them to get an understanding. So, beginners better don't set high expectations that will hurt if not achieved.

 

[quidsworth]

Forex trading can be really profitable if you follow disciplined trading behaviour and routine. Be practical and never risk that you can't lose. Master candlestick patterns to get an idea of the price movement so that you can plan your moves.

 

[skrimon]

When approached as a business, forex trading can be profitable and rewarding. Find out what you need to do to avoid big losses as a beginner.

 

[Polakandil]

All beginners they come to join to forex because want to make money, maybe they start from searching about how to make money from home, and find forex trading included one way to make money from home, but before jump to real trading, it is better they looking the deep insight about forex because this is risky business.

 

[somrat4030]

All beginners they come to join to forex because want to make money, maybe they start from searching about how to make money from home, and find forex trading included one way to make money from home, but before jump to real trading, it is better they looking the deep insight about forex because this is risky business.

Yes, every one should know first about gorex trading before strat.

 

[skrimon]

Forex trading can be complex and may not be suitable for everyone. Whether forex is good for you will depend on your financial condition, your goals, and how much investing experience you already have as a beginner. Overall, beginners must exercise caution, especially as the majority of forex traders lose money.

 

[Polakandil]

Forex trading can be complex and may not be suitable for everyone. Whether forex is good for you will depend on your financial condition, your goals, and how much investing experience you already have as a beginner. Overall, beginners must exercise caution, especially as the majority of forex traders lose money.

Sometimes people choose a business based on their passion, if they like to join forex trading, usually will struggle to learn how to make the business become profitable, but if they don't have a passion to forex and just want to make money, one failure maybe leads them out from the business.

 

[Paulsy]

The importance of trading with a regulated and trusted broker is also crucial when starting out with Forex trading. Trading with a regulated broker ensures that the client's privacy and funds are protected and the disclosures of financial information are reliable. Check out this AximTrade review to find out how AximTrade sets itself apart as the most regulated forex broker.

 

[skiascope]

It is very difficult for new traders to acclimatise to the frequently changing market settings. They should be patient and understand the market.