10 Important Steps to Learn to Become a Forex Trader (Part 1)

With high volatility, the Forex market is going to be a dangerous fight of the field full of risk and if you are determined to dive in without knowing the ins and outs real forex trading in detail. Would rather than wanting to earn a fortune of forex trading, you can become the prey of a market that is so cruel because of their ignorance on the way to hell is forex trading? Here are 10 milestones in learning forex in order so that you become a real Forex trader:

1. Getting To Know Forex and Forex Trading

The foreign exchange or Forex trading buying and selling market is the type of currency of a country with the currency of other countries. Forex trading consists of transactions on Forex worldwide during the next stop 24 hours, 5 days per week.

Get to know this quite important trading hours You know because how would you know if there was a scheduling transaction isn't it? It's an interesting schedule of hours, Forex trading, forex traders advise doing some transactions at certain hours, for example, only make deals after the European open trading hours because it has higher volatility.
first 5 steps to learn forex trading

2. Learn Forex Trading With Demo Account

A demo account, you can learn a lot about how to forex trading. You can learn how to make the purchase and sale of the open position, learn how to use the forex indicators to analyse trade. Then use the demo account, they learn not only to learn Forex directly, but you can also learn how becoming a forex trader is actually before the more before diving directly into the market.

So the question that arises is how long must learn forex demo account? Clear until you understand exactly how on Forex. Some say it took at least 3 to 6 months ready to plunge directly into the market forex with real money. The most important thing is that demo accounts are supposed to train yourself best regular transactions, from the beginning how to use trading indicators for the study of the analysis, techniques and fundamentals, practical management enough money, to manage your trading psychology. Once you are sure that you have a little of that, it means that you are ready to take on the next ketahap.

3. Choose a Company Brokers / Broker

Choose an agent or a broker may not be blind. You must choose a good broker and in good faith, must also know what services to offer. For example; How to deposit, withdraw, the spread prevailing margin lever can offer and is also important are they provide the demo as a simulation of customer accounts. ? In addition, the platform should also meet your needs, such as the availability of table/chart makes the analysis and the platform should be easy to understand.

4. To Recognize That The Circulation of Coins to Negotiate

You must know the characteristics of a pair or pairs. Because each of these pairs has different characteristics, for example, the EUR/USD and GBP/USD pair, both have different characteristics. Both in terms of volatilitasnya, as well as in terms of transactions. Recognize that this currency pair can make it easy for you to determine which pair of comfortable tradingkan, so that you focus more yet to make a profit.

5. The Search Information and Knowledge of The Market Conditions

In forex trading, not only you must concentrate on the graphic on the screen of the monitor only. But you also need to know all information related to the money market. Because there's some economic news that could affect currency movements. That is why, before the open position, preferably looking for information in advance if there are fundamental news to be released and is supposed to be able to move the market. So that later you're not wrong to make the transaction. You must also be able to read the market situation, if the trend is bullish or bearish, even through walls. Do not up to the fight against the trend as interest often with professional traders of the term 'follow the trend' and make your best friend as a trend. This means here, not trying to take a sales position while trending upward and take a position of purchase so that the downward trend. If you do not have a big business that could significantly affect the movement of the market.

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1 Response to "10 Important Steps to Learn to Become a Forex Trader (Part 1)"

  1. Candlestick Planning as a design working strategy verified as the easiest way of analyzing details from a chart. It is generally considered a wonderful system for technical analysis because of its virtnext software review ability to provide an easy and yet extremely precise indicates of knowing the existing and future price action of a regular or Forex working.


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