When getting started in the world of financial trading there are several steps every beginner should take before they can become successful.
The first step is theoretical knowledge, then comes a demo account to practice trading without risking real money, and finally, a trading platform where traders can open and close trading positions. After these steps, it becomes possible to build and test trading strategies. Axiory is a web platform that offers all of these solutions to Forex beginners combined.
Let’s dive into this topic and learn more about Axiory which offers all trading educational and practical guides into one reliable platform.
Getting Started In Forex Trading With Axiory
Learning to trade Forex markets comes with the challenges of finding the right educational resources, opening a demo account for practicing, and using a trading platform to trade markets.
The best experience for beginners is to find a reliable online platform that offers all of these aspects combined, in one website. There are many solutions on the web offering one or two of these steps but there are rarer occurrences when one web platform can help beginners advance from zero to hero in Forex trading.
Axiory helps traders not only learn theoretical knowledge about financial markets and how they operate, but also provides a free demo account, and trading platforms that can be used to translate this theoretical knowledge into practical skills. When it comes to trading Forex markets, practice is everything.
It becomes easier to learn FX trading for beginners with this guide, as it combines several aspects of trading education into one simple web platform, where beginners can learn the basics of trading and then deploy this knowledge into practice.
Trading platform tutorials from Axiory will help beginners gain critical knowledge of analyzing markets and opening trading positions. A demo account at Axiory is free and the website also has several tutorials about trading strategies to get started.
Axiory offers both fundamental and technical analysis education to Forex beginners and we shall discuss which one of them is more important for a trading career.
But Is Theoretical Knowledge Really Helpful For Beginners?
There are two types of traders that employ only fundamental or only technical analysis and both of them have their arguments. Fundamentals refer to macroeconomic events and indicators such as inflation, GDP, and many more.
With this information, investors are trying to predict future price trends. Technical analysis on the other hand offers the unique ability to evaluate and analyze price charts and make sense of what the market is doing right now.
There is a theory that states that the market has already priced all ongoing major events into the price. With this theory, it is possible to trade markets with only technical analysis as all the macroeconomic factors are already reflected in the price of an asset.
Not everyone agrees with this statement and there are many successful traders who combine both fundamentals and technical analysis to increase their accuracy.
But major macroeconomic news like central banks’ announcements can have a major impact on Forex rates and traders should incorporate fundamental analysis to some degree into their trading strategies to increase their accuracy.
As we can see, there is evidence for fundamental analysis being effective in trading profitability and decision accuracy.
Since there is enough evidence to support the claim of fundamentals affecting Fx rates the first step of gaining theoretical knowledge and being able to conduct fundamental analysis becomes very important.
But what about technical analysis? Can it really increase accuracy or are traders connecting dots that really do not exist? There is research evidence that technical analysis can increase trading profits when employed by experts.
Since both fundamental analysis and technical analysis can be useful for predicting market trends, why not do traders combine both to make the most out of Forex markets?
This is why traders should learn fundamentals and techniques and use both of them in their trading. Being able to combine and get both types of knowledge from one source is what makes Axiory attractive for beginners.
- Axiory provides a reliable online platform that offers educational resources, a demo account, and a trading platform to help traders advance from zero to hero in Forex trading.
- Numerous research papers agree that both fundamental and technical analysis can have a positive impact on trading decision accuracy
- Professional traders often use both fundamental and technical analysis in trading to increase decision-making accuracy and profitability
- Gaining theoretical knowledge and being able to conduct fundamental analysis is crucial for beginners, but technical analysis can also increase trading profits when employed by experts
- Combining both fundamental and technical analysis can be useful for predicting market trends, and Axiory’s platform provides both types of knowledge in one source with the added benefit of a free demo account and guides on trading strategies