To learn how to trade profitably in the Forex market, you need to have basic knowledge. It is difficult for a beginner to navigate the financial market. And Forex is exactly the market in which the currency acts as a commodity. You shouldn't start trading for real money without studying all kinds of courses. There are many such courses on the Internet now. There are paid ones, and there are also free ones. But it is better to give the money for training once, and then make a profit on a regular basis.
Instructions
Step 1
First you need to find a broker to work with. There are many brokerage sites. You can easily find them on the Internet by typing the corresponding request into a search engine. Take this issue seriously, because a lot will depend on the broker. It is better to choose time-tested brokerage firms that have proven themselves on the positive side over time. Take a walk on the site, open an account on it. All brokerage sites offer trading on a demo account first. This should not be neglected. Trading on a demo account is, of course, psychologically different from real trading, but it will give you an idea of how to trade Forex.
Step 2
Understand the trading terminal. Opening and closing orders, building charts - all this you will be in your trading terminal. A very important point is to configure the terminal graphically. The graphs have different colors. Choose a suitable design for yourself, with which it will be more convenient for you to work. Usually they choose a white background, but some find it more convenient to work on black.
Step 3
It is very helpful to understand the basic terms before starting work. Some, already trading on a real account, do not yet understand the terms. This creates obstacles to work.
Step 4
It is imperative to understand what technical analysis is and how it works. Fundamental analysis is not for beginners. It is used by professionals. But you will have to apply technical analysis practically. Charts, trading systems, market analysis - all these concepts include technical analysis. Successful trading is impossible without studying it.
Step 5
Then you will need to choose a trading system. Do not invent something new in this area. There are a lot of trading systems now. Find the right one for yourself. It should be remembered that you cannot work successfully without your own system. All eminent traders use trading systems. Customize the system to your specifications and it will work for you. It is not worth choosing a complex system. It is better to choose a simple one, with which it will be convenient for you to trade on Forex. You should know that there are no eternal trading systems. They all start to fail at some point. The situation is changing, and then a different trading system will be needed.
