Give Me 5 Minutes, and I’ll Give You The Truth About My First Experience In Forex Trading.by Kazi Tanzib Forex Trading Analyst
I am not properly experienced, but I am trading since 2019. So now I am sharing my story in below para —
When I first deposit, I guess it was $100. Then I started trading on a reputable broker like FP Markets, IC Markets, etc. So, 10 days later, I got something like 5 dollar profit, and at all-time, I got losses from my trading. Then, I realize something essential in forex trading. That forex is totally an unexpected thing.
In forex, the only people can exits in long who have huge experiences with good and bad. And also he/she must be well educated in this sector. Otherwise, forex must punish him/her badly.
Suppose you look into some professional trader like George Soros (I mean, he is best of all). The majority of his trades were done over a long period of time. Actually, Quantum Fund was the first company he founded, leading to his generating stable income lasting years. Forex Exchange Market helped him experiment with a variety of strategies. Getting to know details of the buying and selling techniques later turned into breaking the English bank, impacting the entire industry. No one has ever done something similar to the finance niche. You have to agree on one thing that a broker will make a big advantage for your trading. So, if you do not have an option to choose the perfect broker, then topasiafx.com will find the best brokers for you.
Now let’s talk about some forex benefits that attract people to fall in love with forex trading. Here’s the love that happens —
- Huge and Prestigious Market
As the world’s largest financial market, more than $6.5 trillion is exchanged daily. Traders in all corners of the world are buying and selling currency pairs at all hours, making forex a truly global marketplace with plenty of scope for profitability.
- Beginners can dive in
Accessibility is one of the biggest advantages of forex trading. Compared to other markets, it is relatively easy to enter and does not require a large initial investment, explaining its popularity with hobbyist traders.
Free demo accounts allow you to practice trading forex without risk, essentially providing a ‘try before you buy’ test run. By simulating a live trading environment, demo accounts give you the chance to get used to a trading platform, familiarise yourself with market movements.
- All-day, All night — 5 Days a Week
The foreign exchange takes place over-the-counter (OTC), meaning transactions are made directly between trading parties, facilitated by a forex broker. Since it operates this way, forex trading is not subject to any centralized exchange system's opening hours. As long as there’s a market open somewhere in the world, deals can take place.
- Transaction costs are little.
Not only does the forex market require little capital for entry, but there are also low transaction costs once you’re in. Typically, brokers make money from spreads measured in pips and factored into a currency pair's price.
- Benefit From Leverage
Of all the reasons to trade forex, the availability of leverage is perhaps the most appealing. It allows you to open a high position with a relatively small amount of capital.
- Bonus is a Sweet option.
In forex trading, most of the brokers are providing sweet bonuses for the traders. In this bonus list, you can find both — forex no deposit bonus and deposit bonus. But some brokers play scam behind this bonus game.
Whatever, the first expression is just awesome, and you can’t predict that the after days will make you cry. So, please don’t be rush with trading. Goes with the trend. It will make you feel ok.
Best of luck!
Created on Jan 26th 2021 22:23. Viewed 207 times.
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