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How To Start Trading On Forex

Forex trading is a fascinating business​. ​
T​his is a 5​Trillion dollars a day market! ​And everyone has an opportunity to have a piece of the cake. ​
For a beginner,  there are many obstacles that can cause discouragement.
But if you follow these steps, you will surmount every obstacle and become an experienced trader.
Step 1: Get proper education.
Lack of proper knowledge of the forex market is one of the

​ main​ reasons why people fail.
Thankfully, there are tons of​ inexhaustible free learning materials and tools available at your fingertips.
You can learn from books, mentors, internet resources,  and some brokers have free educational materials on their websites.
Step 2: Choose a good broker.
There are some few dishonest brokers out there.
Therefore, in order to ensure that your funds will be safe, you need to choose a good broker.
 A good broker is a regulated broker with good trading conditions and low spreads.
Step 3: Training on the demo and cent accounts. Use the demo account to explore the trading platforms, use the cent account to study up on real trading
Step 4: Learn to recognise patterns and start designing your own strategies that suit you. Remember that trading is not a get-rich-quick scheme, it’s not a gamble or a game.
It’s a real business and it takes planning, constant learning and patience
Step 5: Open the real trading account and begin to take baby steps.
Make a trading plan and trade your plan.
And with time you will become one of the pro.
While you are learning and trying to find your bearing, there are other ways you can actually make money from the trading activities of other traders.

 

Return Member Asked on February 11, 2018 in Finance.
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    This so interesting and great lecture. I don’t know why am still feeling this will be harder than the way its explained up there.

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    Expert Consultant Answered on March 4, 2018.
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