how much forex is risky for new traders?

Msci18131004

Newbie
Feb 2, 2021
1
1
1
27
Users those have no experience and market knowledge have much risk in forex,Is Demo better for fresh users? Is they understand risk?
what you you say please tell me about your knowledge and also share yor experience
 
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Reactions: ronaldsanders

hk_09

Banned
Oct 30, 2020
89
12
19
40
For those who have no knowledge, demo is definitely the best options to start, rather than directly going live. Demo trading helps one understand the markets well and without staking money, one can test his strategies and plans.
 

Dora_WalletInvestor

Active Trader
Aug 17, 2020
301
46
44
I agree that demo is a good step for beginners. If you learn about forex - for example, from books and online courses - and practice on demo at the same time, it will help you understand risk (and other things too).
 

vicjon1995

Active Trader
Sep 29, 2020
217
30
29
28
Demo account is actually an amazing tool. With its use you can learn trading and experience the real market conditions. You can even backtest your strategy in a demo account and use various Indicators and EA’s to make trading easy for you.
 

HeavenLeighGill

Active Trader
Aug 5, 2021
389
35
44
28
I think you should always start with a demo. It will help you learn the mechanics of trading and give you necessary practice before you go live. Unfortunately, the demo doesn’t really prepare you for the psychological aspect of trading, so it’s a good idea to study about that so you’ll be more prepared for it. Demo also doesn’t teach effective risk management because you can just top up the account if you blow it and the lack of consequences make it easier to risk more and make more. Once you go live, you can take steps to minimize risk, like only investing 1% of your account balance on a single trade, using limited leverage, SL, and so on.
 

Fried_Rice

Active Trader
Aug 30, 2021
260
26
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50
Golden rule - never risk more than you can afford to loose!
Take your time, it's all about the journey
 

Jungletrader

Banned
Sep 5, 2019
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7
19
45
Absolutely start on demo .
Forex is risky any form of investing is .
As per above never risk more than you can afford to lose and use the 1-2% risk per trade will help minimise the risk
 

jimcarter

Active Trader
Nov 10, 2017
38
9
44
39
USA
The popularity of forex trading for beginners is growing. Unfortunately, most people are unaware of the complexity, while others take big risks in the hopes of fast making large profits.

How can you get started with forex trading if you're a beginner?
  • Consider important factors including security and validity, transaction fees, easy deposits and withdrawals, ease of use, customer support, and additional services when choosing a reputable forex broker.
  • Begin with simulated trades.
  • Learn the fundamentals of forex trading with Market Experts' Forex Professional Trading Course.
  • Make use of micro-accounts.
  • Take the time to study currency pairs.

You should have a strong understanding of how to start trading forex for beginners. Take the time to find a reliable broker, study trading tactics, and practice with a demo account.
 

Lacquer

Banned
Dec 13, 2021
18
2
4
29
Forex is not just risky for newbies, but experts as well, but that doesn’t change the fact that forex is one of the most lucrative markets in the world right now with over 6 trillion dollars being traded every day. No other market comes close to it in terms of the trading volume. As far as risk is concerned, then a trader with no knowledge, practice, and experience will find it risky, which is why there are so many forex courses available on the market. Brokers are offering free demo accounts to new traders so that they can practice trading with virtual money and gain experience before switching to live trading accounts.
 

shortmir

Banned
Feb 23, 2022
6
0
1
35
Not just forex, but life is all about taking risks, and honestly, one can’t achieve anything if he/she is not willing to take risks. So, anybody who is planning to trade forex should know that forex is going to be very risky, but the risk can be mitigated by having in-depth knowledge about forex, practicing in the demo account, and trading a live account using risk management strategies. These are the bare minimum that a new trader needs to do. There is a long list of things that traders should do to ensure profitable trades, which they will get to know during the course of trading.
 

Dutchy86

Trader
Sep 27, 2020
30
3
24
37
Users those have no experience and market knowledge have much risk in forex,Is Demo better for fresh users? Is they understand risk?
what you you say please tell me about your knowledge and also share yor experience
Yes it is definitely risky for newcomers but then if we never take risk we will never see the rewards