What does it take to be a forex trader?

[bisdak40]

I would advise newbie to focus on crypto trading, because there they will be able to understand more about trading with trading spot. That would reduce their risk they won't be any fear of liquidation. And they can also help them to build confidence in it too

Yeah, spot trading in cryptocurrency is best for newbies as it can't be liquidated and it is like you are holding coins only. Learn and earn experiences from spot trading as you can use it when you are already ready to do future trading.

yeah that was what I was basing on and was pretty helpful till I jump into future trading and I made losses countless times, so have to stop for a while and learn more. But I guess was the weak or poor knowledge I had back then but now am focusing most of my earning percent in holding but I would soon resume my trading and I would need all the help I could get from more experience trader's here

That's the usual act of newbies, jump into action right away not knowing what the risks are in trading but as you said, you can learn from those mistakes and never commit that again.

It's good to know that you are now into future trading and I'm hoping that you are successful in your endeavor mate.

[antonyyu3]

At least from the stats, most of the retailed traders lose their money in forex trading. I think some of your experience in crypto trading can be transferred to forex market. Keep in mind that trading forex contains a higher risk. If you're really interested in and want to be committed. I suggest you do your research, open a demo account and give yourself a couple of months to test your strategy. Once you feel comfortable then you can start to fund your account and trade with small size each time. It is fine if you just wanna mess around and give it a go. Just don't put too much money in cause you will probably blow your account lol

[Alston Liu]

If you consider being a forex trader, I also just started this journey not so long ago. I literally went through lots of tutorials before I actually traded with real money. I would suggest you learn some basic knowledge first and open a demo account to give it a try to see if you are interested in it. Many pros recommend using a demo account to trade with a few months before actually funding your account. You can form and test the strategy to see if it helps you make money. Besides, keep learning and haveing a risk management plan is definitely necessary to succeed in this market.