Before you start working on Forex, you need to decide: do you really need it. There is a widespread misconception that Forex trading is an opportunity to make easy money. However, this is a rather complex analytical work. Fifteen minutes of keystrokes, which bring good income, cost many hours of analyzing the market situation and waiting for suitable conditions to start trading. This invisible part of the job is the most difficult.
Market research
If you have a desire to become a trader, you need to undergo free training at Forex centers, among which Teletrade and Alpari occupy a prominent place. During the training, you open a demo account, which you try to trade on your own. At the same time, one should take into account the significant psychological difference between trading on a demo account and on a real account.
The next step is to open a real account and replenish it. However, it is advisable to carry out this process under the supervision of a Forex center consultant. The minimum deposit amount, at which trading is possible, is $ 2000. For more confident trading, it is advisable to deposit about $ 5000. After that, you can trade on a real account. However, it should be noted that it is at this stage that 85% of novice traders empty their account.
Traders
Only the remaining 15% of novice traders will be able to become true professionals. If you are one of them, then you need to continue learning, choose a few correct strategies and hone your skills to perfection. You can also take one-to-one tuition for a fee from an experienced craftsman who will guide you through the intricacies of the craft. This is usually a short but productive hands-on course that may be accompanied by electronic video footage.
For successful work in Forex, the average trader needs to know about five strategies. A good level of profitability for a beginner trader is around $ 2000 per month. When your income reaches $ 5000, you become a mid-level trader. The profitability of a professional trader's trading has no boundaries.
It must be remembered that those who come to Forex to play for luck will surely lose. Forex is not a game of chance. This is serious intellectual work. Only those who come with the spirit to work will certainly earn. However, there are several important rules:
- strict discipline, without which it is impossible to organize any serious activity;
- self-education, continuous improvement of well-developed and study of new strategies;
- continuous market analysis (the market is so dynamic that you need to constantly adjust to it);
- capital Management;
- Management of risks.
Forex trading attracts many, as it gives a chance to get good income. Perhaps this job is right for you. It is important to treat it responsibly and constantly move forward.
