ilmscore | What is Forex Trading For Beginners | Forex Trading Explained | Trade with Purab

What is Forex Trading For Beginners | Forex Trading Explained | Trade with Purab

Published: 2024-05-11
Status: Available | Analyzed

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Unrated: 0
Prediction
Topic
Status
A cautionary tale is presented where a friend lost a significant amount of money (lakhs of rupees) in a single day due to directly starting Forex trading without proper experience or fund management.
"My suggestion would be that if you are confident that you can control and manage your funds properly, then only go for it because a friend of mine, I will honestly tell you, lost lakhs of rupees in a single day just because he started trading in Forex directly."
Forex Trading Risk
Pending
The speaker advises against beginners starting directly with Forex trading due to its lucrative but potentially overwhelming nature, especially with high leverage.
"My opinion is different. According to me, no one should start directly with Forex because Forex is very, what can I say, lucrative. It is a bit lucrative because here, if you are getting leverage, then they are getting 100 times the amount or 500 times the amount, or even 50 times. If so, then a beginner does not know how to manage it."
Forex Trading Beginner Strategy
Pending
Certain brokers are mentioned as offering leverage up to and potentially exceeding 400 times.
"I have heard that 400 times is the maximum leverage. Some brokers provide it even more than 400."
Forex Trading Leverage
Pending
The US dollar's exchange rate has seen minimal movement of only ₹1 over the past two to three months.
"for the last two-three months, the rate of the US dollar has changed only by ₹."
Forex Market Movement
Pending
It is possible to achieve up to 20% profit in a single day through Forex trading.
"In Forex trading, even that much can happen in a single day, but in a single day, your profit can be 20%."
Forex Trading Profit Potential
Pending