Focus on top assets to start with. For instance, Tesla did a 13% jump in a week this month. UrbanForex on youtube is a good channel. Some of the videos are 5 years old TA is timeless. Dont forget about fundamentals specialyl with FX. Learn technical analysis. It will give you more confidence when trading as the charts can support your decision. Less risk, and you can make money if there is enough volatility.
What should I be mindful of as I embark on this journey of learning forex and crypto trading? Congrats on setting aside $2k to start this journey. I’m particularly curious about whether it’s advisable to use margin in these types of trading. Your guidance and expertise will be highly valued. Learn how they move, the correlations, dynamics, trends etc. You can easily get overwhelmed with the amount of info out there so it can be better to narrow your focus and become an expert on a few. My first trade was about 15 years ago, and started with a lot less than that. Focus on a handful of index’ or cryptos only.
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There is no right or wrong with trading. Also, fake money trading is very different from real money trading, so I don’t recommend spending too much time or effort on simulated trading accounts. Only really for very experienced traders. Its generally considered haram. The best way to learn is to just do it. Lastly, have fun and definitely avoid margin trading. Your psychology and behaviour will be different from those you are learning from, so trying to copy others’ strategies rarely works because your personality is different. Just start small and protect your $2k with stoplosses before thinking of making gains.
Global events, news have a huge impact on FX but also almost every other asset. None of this is financial advice. If trading crypto always put a stoploss. Never put all your money in one asset. Crypto is very volatile so to avoid cancelling your own trades, look at the average daily volatility and adjust stoploss accordingly. Spread your money across 5 or so different assets to spread your risk.