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    Thread: First step in entering in forex trading market (5)

    1. #51
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      Number one rule before you enter or joined the market, have thorough knowledge about the market and to fully understand how trading works,forget about profits when you are just starting to trade, focus on developing the right trading skills, unfortunately there are so many traders that got it all wrong from the very start.

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      first step in entering in a forex business is to gather as much as knowledge and experience as we can and in order to do this,we need to spend our time to study and do a lot of practice trade using demo account first and then use small real account to practice psychology in trading

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      Quote Originally Posted by adewale View Post
      Knowledge is the first step that all traders need to acquire before they can think of doing anything else, unfortunately some believe that trading in the forex market is an easy thing that requires no form of effort hence they misbehave in while trading.
      Knowledge comes next. First step is learning. Without learning gathering knowledge won't be possible. So , I would say learning, practicing is the first of entering into forex market. Gather knowledge and try to earn by using that knowledge.

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      I think the first step to first do in entering forex is to know the risk that associate with and see if there is capacity to bear the risk . After this then there must be acquistion of knowledge and skill which will be to trade market proper because without the knowledge and skill with experience the traders can not succeed . So every trader must make sure he acquire knowledge and skill before they enter trade.

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      the first step we need to take in the forex trading market is making sure we learn how to trade forex trading, right after we must have learn then we must switch to demo trading, demo is where we will have to practice everything we have learnt and try to create a working and tested trading strategy we will be using in live account. before we can switch to live account we need to practice everything we want to do and perfect them

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    8. #56
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      It will be wrong thinking that the first step to the forex trading market is to make so much amount of money, well, that could be the intention of the doing the business but the first step to be taken is to make sure hat you build your trading skills and market understanding, learn and master the business, build your trading strategy and master risk management.

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