1. What is the best Forex platform?

There is no one way to answer such a question. This will, of course, depends on the trader, according to his preference, knowledge, experience and what he intends to trade (what financial instrument). Many traders with intermediate experience, especially when trading forex, prefer to use platforms like MT4 or C-Trader, which are primarily designed for Forex trading as well as CFD trading, and for someone with some knowledge of the forex market. operations.

Other, more novice traders would prefer to use platforms like those found on Easy-Forex, iForex or eToro, where limited mathematical/computer knowledge is required to use and are much easier to use.

More advanced/experienced traders, who may also prefer access to multiple markets, would prefer to use brokers like Interactive Brokers or SAXO Bank’s SAXO Trader. Such platforms often contain much more advanced analytical/charting tools (although, to be fair, most analytical tools can also be obtained from MT4/C-Trader) and also provide access to thousands of instruments, including stocks, ETFs, swap etc and are designed with the ability to effectively allow merchants to participate in such markets.

2. Forex Trader: What is the best way to trade Forex?

If you’ve researched forex trading, chances are you’ve been exposed to all the various opportunities to make money and are wondering how best to learn how to trade the forex market. First of all, the most important thing that I would recommend is to get an education in Forex. There are countless Forex materials on the Internet for both beginners and experienced traders; all you need to do is search. Spend some time reading about how forex trading works, the concepts behind the trades, and how prices are affected by economic and political conditions.

Secondly you need to get some experience, if you want to learn how to trade forex that is the only way. To begin with, it is prudent that it be in a demo account. This will give you a good technical foundation in the mechanics of Forex trading and get you used to using a trading platform.

After you have traded for some time on a demo account, it is very important to also use a real one, albeit with a small investment amount: find a broker that accepts smaller trade sizes (0.01 lots for FX) so you can get a real feel . for the live market. It is a completely different game of trading on a demo platform and real, due to the psychological effect that trading with real money has. Trading small will allow you to risk your money, but with little risk if you make mistakes or lose money.

From there, as long as you are making more than you are losing, you should gradually increase the size of your trades and invested capital, always keeping in mind that it should be an amount that you can afford to lose and are comfortable with.

3. What is the best forex trading software?

There are various Forex Trading programs available, all with their specific advantages and disadvantages. Many commercial companies have created their own platforms, while others prefer to use, and indeed White Label, existing solutions that are commonly known within the industry.

Saying which is better would be invalid as it depends on the opinion of the individual user; however, there has been a clear trend in terms of popular platforms, which have proven to be preferred by both novice and veteran traders. These platforms are Metatrader 4 and C-Trader. The former has been created primarily for Forex products, while the latter has been designed to accompany other instruments such as stocks and ETFs. Both platforms are easy to use and master and come complete with full charting and technical analysis capabilities.

4. Forex Trader: How can you be a good Forex trader?

If it had to be summed up in one word, the key to a good forex trader is discipline. Yes, there are many things to learn and know before trading or getting involved in the financial industry, but one thing that must be kept constant is discipline. Discipline in learning, in carrying out your first operations and in complying with your plan.

The basics that all new traders should follow are:

– Learn about Forex – there is a lot of material on the net. Spend a good 1 month learning. Technical study and fundamental analysis. Your learning should continue well into your trading and be continuous.

– Create a strategy – Set rules that will determine your trading pattern and how you will enter and exit the market.

– Practice on a demo: Open a demo account and trade like the real thing. Of course, this will not be ‘exactly’ as if you were trading a real, due to the fact that the fear of losing would not influence your decisions. Do not proceed to the next step unless you can make a profit on the demo first.

– Practice on a real account with a small amount – Do this so that you can understand the difference between real money trading and demo trading. Do this with a substantially small amount, but enough that you are concerned about losing it.

– Trade a real account with a substantial amount – Do this with an amount that you are “comfortable” to lose completely. Even if your strategy worked on demo and real with a small amount, it may not continue to do so in the future. Stick to your strategy (have total discipline). If you see that the strategy is failing, adjust your strategy accordingly, but stick with it (to the point) at all times once you’ve made up your mind.

5. Forex Market: Is it possible for an amateur forex trader to make sustainable profits trading currencies?

Many traders have made a living trading forex and some have made very rich earnings that have allowed them to become self-employed and leave the 9-5 job behind. All of these traders have 1 thing in common – they all started out as hobbyist forex traders! No one is born with business knowledge; It is achieved through dedication and discipline.

Then yes! an amateur forex trader can indeed make sustainable profits from forex trading. As long as he’s willing to put in the effort and has the discipline to follow through on such a commitment, there’s no reason he can’t do what others have done before him in the same shoes.

6. Forex Trader: Who is the best Forex trader?

There is no better Forex trader, or at least no clear way to measure this (it is the amount one has earned or the % earned from it). Furthermore, since many of the world’s top forex traders do not trade with their own money, but with company funds and capital, it means that different risk appetite and psychological conditions exist for different traders and as such makes that it is biased to compare the success of such traders with those who trade with their own capital.

The only thing you need to know is that what many Forex traders have in common is their appetite for success, their diversified portfolio, and their willingness to take measured risks.

7. Has anyone made money trading FOREX?

Yes! People have not only made money trading Forex, but many have made a living!

Although most retail traders would not be as successful as professionals, this is largely attributed to poor money management strategies and a lack of discipline in following your strategy.

With 100% discipline and a good money management strategy, there is no reason why someone should not have a good chance of making money trading Forex.

8. Is FOREX the best way to invest money?

It is difficult to say if it would be the best, since there are numerous ways to invest money and it would depend to a large extent on what the person knows; however, it is one of the best, largely due to the fact that, unlike the stock/housing market, an investor can make money regardless of the performance of the instrument, either by selling or buying it (or by doing both, which which is known as coverage).

In the stock market it is only possible to invest in the success of a stock; However, in Forex you can buy/sell a certain currency against another and therefore there is always the possibility of making a profit.

Also, the fact that Forex is commonly traded with leverage, allows Forex trading to become one of the most volatile and therefore allows for higher profits (as well as losses), if traded correctly.

9. Forex Market: What are the best forex blogs?

There are a number of locations on the web to find a great forex related blog, in fact many brokers have their own blogs as well; but to maintain fairness, I will recommend a non-brokered blog. One of the most useful blogs for both new and veteran traders is at babypips.com – there is a regular update on the current market movement, as well as a wealth of information and ideas expressed.

10. Why do individual investors often lose money on Forex?

Most of the retail investors end up losing money on Forex. Despite the fact that they may receive the correct training and educational material (or at least the same as other successful traders may receive), many often fail due to poor money management rules and/or lack of discipline. The latter is the most frequent.

The most difficult thing in Forex is not doing the math or predicting where to enter, how much to trade and/or what your limits should be; is to stick to your strategy and follow it with 100% discipline.