Top 10 Frequently Asked Questions in Forex

1. What is the best Forex platform?

There is no way to answer such a question. This, of course, will depend on the trader’s preferences, knowledge, experience, as well as his intention to trade (which financial instrument). Many mid-level experienced traders, especially when trading in the foreign exchange market, prefer to use platforms such as MT4 or C-Trader, which are mainly designed for Forex trading, as well as CFD trading, and for those who have some knowledge of the trading market.

Others, more inexperienced traders prefer to use platforms found in Easy-Forex, iForex or eToro, where their use requires limited math / calculation knowledge and is easier to use.

More advanced / experienced traders who may prefer access to many markets will prefer to use brokers such as Interactive Brokers or SAXO Bank’s SAXO Trader. Such platforms typically include more advanced chart / analytics tools (although most analytics tools are also available from MT4 / C-Trader), as well as stocks, ETFs, Swap trading, and more. including access to thousands of tools; and with the ability to enable traders to participate in such markets.

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

If you have looked at forex trading, then you have undoubtedly been exposed to all the different opportunities to make money and you are wondering which is the best way to learn forex trading. First of all, I would recommend getting Forex Education. There are countless articles on the Internet about Forex for newcomers as well as experienced traders – all you need is a search. Take the time to read how Forex trading works, the concepts behind trading, and how economic and political conditions affect prices.

Second, you need to gain some experience, if you want to learn forex trading, this is the only way. To begin with, be careful that it is in a demo account. This will give you a good technical basis in the mechanics of forex trading and you will get used to using the trading platform.

After trading on a demo account for a while, it is very important to use a Real account, albeit with a small investment – find a broker who will accept lower-sized trades (0.01 lots for FX) so that you can get a real feel. for the live market. This is a completely different game trading on the demo and real platform due to the psychological impact of real money trading. Small trading will allow you to put your money online, but if you make mistakes or lose money, the risk is small.

From there, if you gain more than you lose, you should gradually increase the size of your trade and the capital you invest, keeping in mind that this is always an amount you can lose and feel comfortable with.

3. What is the best forex trading program?

There are a number of Forex Trading programs available, all with specific advantages and disadvantages. Many trading companies have set up their own platforms, while others prefer to use existing solutions that are well known in the industry and actually use the White Label.

It would be unreliable to say which is better, as this is in the opinion of the individual user, but there is a clear trend in terms of popular platforms that prevail among both inexperienced and veteran traders. These platforms are Metatrader 4 and C-Trader. The first is built primarily for Forex products, and the second is designed to accompany other instruments such as stocks and ETFs. Both platforms are easy to use and master, and are complemented by full graphical and technical analysis capabilities.

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

In short, the key to a good forex trader is discipline. Yes, there is a lot to learn and know before engaging in any trade or entering the financial industry, but one thing that needs to be consistent throughout the entire period is discipline. Discipline in learning, making your first trade, and staying true to your plan.

Here are the basics that all new traders should follow:

– Learn about Forex – There is a lot of material on the net. Spend 1 month learning well. Learn technical and fundamental analysis. Your learning should continue well in your trade and be sustainable.

– Come up with a strategy – Set rules that will determine your trading model and how you enter and exit the market.

– Train in a demo – Open a demo account and trade realistically. Of course, this will not be as “accurate” as you would be in real trading, because the fear of losing will not affect your decisions. If you can’t make money in the demo at first, don’t move on to the next stage.

– Practice on a real account with a small amount – Do it to understand the difference between real money trading and demo trading. Do it in small amounts, but enough to worry about losing it.

– Trade a significant amount in a real account – Do it with the amount you are “comfortable” to lose completely. Even if your strategy works a little on demo and real, it may not continue in the future. Stick to your strategy (be completely disciplined). If you see a strategy fail, adjust your strategy accordingly, but always follow it once a decision has been made.

5. Foreign Exchange Market: Is it possible for an amateur forex trader to make a steady profit from forex trading?

Many traders made money from Forex trading, and some made very rich profits, which allowed them to be self-employed and leave 9-5 jobs behind. All of these traders have one thing in common – they all started out as amateur forex traders! No one is born with trade know-how; is achieved through self-sacrifice and discipline.

So, yes! an amateur forex trader can really make a steady profit from forex trading. As long as he is willing to make an effort and has the discipline to make such a commitment, there is no reason why others should not be able to do in the same shoes what he did before.

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

There is no Best Forex Trader – or at least there is no clear way to measure it (the amount someone earns or the% earned from it). Also, because many of the world’s best forex traders trade not with their own money, but with funds and the Company’s capital, this means that there are different psychological and risk appetite conditions for different traders, leading to bias to compare the success of such traders. those who trade with their own capital.

One thing to know is that many Forex traders have in common their appetites for success, their diversified portfolio and their desire to take measurable risk.

7. Has anyone made money from FOREX trading?

Yes! Not only did people make money from Forex trading, but many also made a living!

Although most retailers are not as successful as professionals, this is mainly due to poor money management strategies and a lack of discipline in sticking to their strategies.

With 100% discipline and a good money management strategy, there is no reason for anyone not to have a chance to make money from Forex trading.

8. Is FOREX the best way to invest money?

It’s hard to say which will be the best, because there are so many ways to invest and it will largely depend on what the individual is familiar with; but it is one of the best, mainly because, unlike the stock / housing market – an investor can make money by selling / buying (or doing both – that is known as a hedge) regardless of how the instrument works.

It is possible to invest in the success of only one stock in the stock market – but in Forex you can also buy / sell a certain currency against another, and therefore always have the opportunity to make a profit.

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

9. Foreign Exchange Market: What are the best forex blogs?

There are a number of places on the internet to find a great forex related blog, in fact many brokers also have their own blogs; but to remain impartial, I would recommend a non-broker blog. One of the most useful blogs for both inexperienced and veteran traders is – there are regular updates on current market movements, as well as lots of information and opinions.

10. Why do individual investors usually lose money in Forex?

Most retail investors lose money on Forex. Although they can get the right training and educational material (or at least as some successful traders can), many often fail due to lack of money management rules and / or discipline. The latter is the most common.

The hardest thing about Forex is not making calculations or predicting where you will enter, how much you will trade, and / or what your limits will be; stays true to your strategy and continues with 100% discipline.