The purpose of this article is for those who are just beginning to focus on foreign exchange. Beginners who are learning the basics of trading markets may also find something interesting
Basically, for those who want to start trading foreign exchange, it can be defined as the "must do" four steps. Although, their orders are not very important, the more important part is that they meet, and they must receive great attention and responsibility
The first step is to find the right one, which will be your main tool for trading. You may have good strategies, good technical analysis skills or good intuition, but if you choose a bad broker, you will eventually fail. Good brokers are those who do not steal your money and will actually trade your orders, Support your preferred deposit / withdrawal methods and fast and efficient customer service. It's better if brokers are registered with certain government financial committees. One of the most important aspects of brokers is trading platforms - but for new traders this part is not as important as for professional traders. You will want to use powerful and informative platforms such as MetaTrader or its equivalent Platform trading. For new traders, the most important thing is that when you train your foreign exchange skills, you can use the simulated account of virtual capital trading. If you are a new trader, just use the simulated account to start! Don't lose your money on the first mistake!
Second, it's not the basis of trading. If you've found what you've got, you'll get all the information from their website or user support. There are many articles and websites around the world focusing on the foreign exchange base. All you need to do is Google's "foreign exchange trading foundation." you'll find anything you want or even more. This step should not be underestimated, Trying to trade because you don't even understand how it works is not only risky, it can quickly become very boring
The third step is about training. Foreign exchange training is not similar to any other training you may get in your life. It's very confusing, and so is training - there are no fixed rules and laws, it's unstable and dynamic. So, to be top, you have to have regular and continuous new knowledge. Try to read more books and articles to learn about the choices of other traders, You will become more educated. Good forex trading will enable you to create very complex and effective trading strategies
The fourth step is also the last step; at least I think it is the last step. In order to achieve a successful result, you need to develop your own strategies. When you learn, you will be satisfied with the known strategies and even the foreign exchange signals. But the real goal of the success of foreign exchange trading is to develop your own strategies. Not a strategy, but to follow the market every day, Develop new strategies and perfect those that start to fail. This applies not only to trading strategies (which are obvious in this part), but also to money management strategies (which are often overlooked). When you gain trading experience, you will naturally establish strategies that suit your transaction type, your characteristics and your life. After that, trading will become a real pleasure, which will eventually lead to your financial freedom