common beginner’s questions

[Luke Hansen]

Forex traders have some common beginner’s questions like:
"How much time a trader ought to spend in his demo account?”
“Which types of learning tools are better for the practicing functions?"
” Which forex broker is better for a beginner?”
From my opinion: the answer will be diverse from individual to individual because each trader has versatile needs. Thereby, each trader should try to trade as per his trading and financial capacities.

 

[Jurlare]

Totally agree that it's depended on any traders. No specific rule for demo account. It need to practice and practice until they gain confidence and trade setup. To selction brokers are not easy but after take sometime to reseach. I am sure that they can filter them a lot!

 

[Fanaudy]

I find all those questions as legitimate as beginners don’t have much clue about this market and they will logically ask mentioned questions.I fully agree that answers must be individual,because there are many options available on Forex.I think that they will have to find the answers for themselves

 

[Alekxandra]

Totally agree that it's depended on any traders. No specific rule for demo account. It need to practice and practice until they gain confidence and trade setup. To selction brokers are not easy but after take sometime to reseach. I am sure that they can filter them a lot!

I don't agree. We can talk about General principles. It is for sure that a beginner should trade on the demo for at least 3 years.

 

[Viaso]

Alexandra, don’t be so harsh on new traders. Yes, I agree that they should spend significant time on demo account but isn’t 3 years a little bit long time for a beginner? Instead, I would suggest to go to real account but to start with mini or cent accounts

 

[robert.miner]

the answer is in this forum post.

 

[Electric Rainbow]

There are many points that beginners must consider while they are learning Forex. Starting with learning from websites and videos, then learning with demo accounts, Always keep in mind that management in Forex is the important point. If you can manage yourself and a trade then you can be here.

 

[anna.semera]

How do you choose a safe and credible broker?

 

[2iquelo]

Its very true that new traders tend to have so many questions like the ones stated above. Since every trader has versatile needs, the answers also vary. Demo trading is important for familiarity, but my main emphasis for any new trader is patience and discipline

 

[RainbowRain]

I think that each beginner will have his own time on a demo account. It depends on how quickly his trading strategy starts to give positive results. And if we talk about a broker, it is better to choose a broker with a long and positive history of work in the market, favorable trading conditions, low spreads and fast execution speed of orders and timely withdrawal of profits. Based on these indicators, I chose fxopen, which has been working in the market for more than 15 years.