Is profitable trading available only to "nerds"?
Looking at the speeches of eminent experts and analysts of financial markets a beginner trader gets an impression that possession of a very high IQ is just a vital necessity for profitable trading on the currency market. The expressions "currency intervention", "inflation rate," "liquidity," speculation about GDP, business activity, and recession The newcomer is intimidated by the association with tedious university lectures on economic theory.
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Despite this, it is safe to say that trading in the market is by no means the prerogative of those who are called "nerds" in universities.
If the trader-beginner plans to make trading a source of stable income, not a casino game, then this, as well as for any job, still requires at least a minimal knowledge of the principles of the foreign exchange market, basics of economics and, of course, the desire to learn.
There can be no doubt that to trade in financial markets a trader needs a certain amount of knowledge and intelligence. Just as in other intellectual spheres of activity, at the heart of trading lies the use of one's own mental abilities. Having combined their use with practical currency market research, a trader has a possibility to receive stable profit.
Undeniable Advantages of Forex for the Novice Trader
Not so long ago, private Investors had no access to the foreign exchange market. Participation in currency trading was the prerogative of large banks and financial institutions with significant amounts of assets. Now trading does not require large capital, trades can be started with almost any amount.
Trading has a number of undeniable advantagesThe largest of which is its 24-hour operation. No other financial market in the world operates 24 hours a day. The constant operation of the market makes it possible for traded currencies to react immediately to economic, political or social events. Taking advantage of such fluctuations in the currency market, a smart Trader and makes his profits.
Another advantage is decentralization. Its functioning does not imply the presence of any centralized trading floor, but is built on direct interaction between market participants through an electronic network.
Easy access does not mean easy earnings
Nevertheless, The availability of the currency market does not mean that it will be as easy to make money on it. It is necessary to have knowledge about the market in order to receive stable, not random profits. A trader must know and understand the basic concepts of currency trading, the meaning and significance of the fundamental and technical indicators. All this a beginner can learn by using for trading on the demo accountThe first step to the Forex market will be the introduction to the Forex market, which will save a beginning trader from material losses and give him an opportunity to try the knowledge he has received in practice, because learning the Forex market without practice is like learning to swim in a pool without water.
Thus, having a desire to steadily earn on the currency market, showing a certain diligence and diligence, the beginner trader will achieve the optimum combination of knowledge, skill, risk and intuition to make a profit on the foreign exchange market.