To start making money on the currency or stock exchange, it is not enough just to open a brokerage account and put an initial deposit on it. Trading in these markets is associated with great risks, so you first need to understand the structure of trading, learn how to analyze price movements and, most importantly, cope with your own emotions.
Instructions
Step 1
Open a demo account to trade on the exchange. This service is provided by many brokerage houses. At the same time, the price movement occurs in real time, and you can place bets on game unreal money. Understand the provided trading charts and trading platform features. This moment is very important, as the error in using the tools can sometimes be fatal.
Step 2
Find educational literature for a novice trader. Currently, there is no need to buy paper books, you can get all the necessary information in electronic form or read on special sites and forums. First of all, attention should be paid to the basics of technical and fundamental analysis. Novice traders, as a rule, use only technical analysis figures, forgetting about the second, which is a big mistake. Combine both methods of market forecasting to learn how to make money on the exchange. Master all the knowledge you have gained in practice by placing bets on a demo account.
Step 3
Develop your own trading strategy. If you are not yet able to analyze charts on your own, then it is recommended to use the trading rules of well-known traders. It is advisable to draw up a detailed plan for entering and exiting the market and determine the stop loss points. Practice your chosen strategy on a demo account.
Step 4
Open a real brokerage account on the exchange after you are completely confident in your knowledge. At the same time, the start-up capital should be minimal. The fact is that it will also become educational for you, since in real trading you will meet your main enemy - emotions. When you place a bet, you will experience fear, insecurity, greed, anger, and more. All this will prevent you from thinking sanely and making a profit. Learn to control your emotions, and only after that you will be able to make money on the exchange.
