How to start trading on ForexBarry Copeland 07 / March / 18 Visitors: 508
How to start trading on Forex
Many people are wondering how to trade correctly in Forex, how to learn to trade without losses, how to trade in Forex. Unfortunately, lossless forex trading is not possible. If security rules are observed, it is realistic to reduce the number of hurtful mistakes.
Of course, you can learn the art of Forex yourself by watching video lessons, reading special books. But will there be such a powerful result and is it possible to be so immersed in the topic?
In order to increase the effectiveness, asa recommend to study trading using the educational services of dealing centers or training courses of brokerage platforms.
Basic trading courses, presented on many brokerage platforms, are really effective. Learning the basics of Forex trading should be combined with self-education.
The next step to success is the choice of a reliable broker and individual training in the art of trading from professionals. Individual training is an expensive pleasure. If money is not enough, it is better to start speculating without a mentor, conducting minimum transactions.
The advantage of learning trading from a master is the ability to receive unique information directly from the first hand. You can not only learn the secrets of conducting strategies from the Forex guru, but also get some bonuses.
10 Forex trading rules for beginners
1. The first condition for successful trading is not to work too long on a demo account. A demo account is needed to improve your skills. Once you have reached a real account, you should not confuse selling and buying, stop-loss and take-profit, you should carefully master the technology of buying and selling on the terminal.
2. Prolonged and profitable trading on a demo account does not guarantee success in real trading.
3. under no circumstances should you use borrowed, credit or last money. Financial difficulties are not solved by speculation you can increase debts.
4. Choose a reliable broker.
5. Start buying and selling, operating with the smallest volumes (0, 001 lot).
6. A beginner, like an experienced trader, needs to constantly improve himself and learn new information about Forex trading.
7. Anyone is a gambler. Gambling in trading can destroy the gained profit. Conducting speculations in a balanced state is a condition of success.
8. Observance of discipline in commercial operations, developed strategic rules is a fundamental condition of success. One should not give up the chosen line of action and change decisions on the move.
9. You can't give in to the influence of the crowd and perform actions, like most small traders. Trading mistakes bring not only disappointment, but financial losses as well. One should take losses calmly.
10. Trading is called art. It is possible to learn this art from an experienced master of his craft, who would share the intricacies of trading, provide unique information about the market.
It is necessary to devote as much time as possible to trading. It is impossible to become a successful trader, trading a few minutes a day and not regularly.
How to learn to trade on Forex
Successful connoisseurs of the international market offer many lines of behavior in trading.
It is best to start mastering the turbulent world of Forex on the intra-day trading, on the time interval of one hour, four hours and a day.
After learning the simplest strategy, you can start to more complex. If the chosen strategy brings only losses, it is necessary to understand the reasons for losses.
The analysis of mistakes will help you to overcome the band of failures and help you not to make them in the future. Although Warren Buffett believed that he would be bored to live without mistakes.
It can be profitable for newcomers to buy and sell against the crowd movement. Usually that's what big market players do with giant capital.
You should think of yourself as a major player of international Forex trading and make deals opposite to those of a crowd.