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hi total noob here . I have been watching and reading about forex, and nasdaq Trading. I have become more interested in Forex, however the more YT videos I see I noticed more people have moved away from Forex. But there is some who make a lot of profit. I have so many Q's . 1: which broker to use? I have only $2500 USD and willing to loose all. lol i have signed up with Trading.com but am not sure if I still need a broker and cash account. Another important question to me is for how long do I watch the candlesticks or patterns before i get in a...
The first question you should ask is if what you're looking at real or not. In today's world there are faaaaar too many people looking to become influencers than actually skilled traders that post all types of stuff to catch your eye. Forex isn't the sexy buzz word right now, so it doesn't generate the clicks like it did a few years ago. Hence, people have moved away from pushing it as much. You wouldn't want to learn from those people anyway. Those people were looking to gather a following to establish some sort of brand for themselves so they can, then, actually make money off of beginners, noobs, aspiring traders and those who don't know what to look for. You'll see the MT4 "proof", the lifestyle props, etc. What you may not know is
ALL OF IT CAN BE FAKED. The screenshots...fake. The cars...rented. Homes...rented. Paper money...movie set prop money (fake). Even the MT4 video recording...Super-faked!!! They use paid servers for that. Believe me when I tell you, you
need to question whether or not you're being marketed to or if what you're looking at is actually legitimate. There are a lot of frauds, and the worst ones are those that have been doing it long enough to become too silver-tounged and edit savvy for beginners to notice the bs. Even on this platform. Definitely on YouTube.
Secondly, I'd say this with almost absolute certainty. You are going to lose every red cent of that $2500 deposit. Why? Because you, like I and the rest us of most likely were, are rushing into this with green in your eyes. The Forex market is not easy. It takes time to develop a keen eye for profitable trading. I know there's a billion ways to skin this cat and every system seems intriguing, but there's one thing we all are unaware of at the beginning of our trading journey...
IT'S DESIGNED TO TAKE YOUR MONEY. Literally, that's why we're allowed to trade the markets. These markets aren't made to make you rich. They are made to take your money and put in the pockets of other people. I know you're giddy but trust me...you need to relax. Learn about what you're seeing...if it's strategy
back-test the hell out of it in demo...if it's a concept,
research the hell out of that too. Research the pros AND cons of everything you learn before you forfeit one red cent.
I could go on forever, so I'll end it by saying relax, learn as much as you can about the market you're interested in, and
practice practice practice until you find what works for you...then strike. You have a ways to go. Chill, the market isn't going anywhere.