How to Trade - New Forex Trader Wanting to Start Trading

Let us you are a new forex trader wanting to begin forex trading but you do not know what is forex trading or even how to forex trade. Well this tutorial will get you started explaining what you need to do before starting forex trading and tell you one or two things about how to forex trade.

The first thing you need to know when it comes to how to forex trade are:

Forex Practice Account
Software
Setting Up Forex Trading Guides

By following these 3 steps then setting up how to forex trade becomes easy for you as a forex beginner.

Forex Demo Account

The first time as trader you start doing some research about forex, you will be so confused as forex trader that you do not even know where to start or what to start with, even getting a demo forex trading account and process of setting up this Forex practice account will be confusing.

So to setup a forex demo account you will need to just follow these steps:

Step1: Find a good forex trading broker - Forex demo accounts are provided by forex brokers

Step2: Go to this forex trading broker and search for the link "Open forex demo account" or "Open Forex Practice Account"

Step3: Once you click this type of link, you will then arrive at a page where the broker will ask you to fill your details so as to register for the forex trading demo account , The details are your name, phone contact and email and country.

Step4: Once you fill your details on this form click the register button, once you finish this registration your forex broker will then give you a "username" for the account you have registered and a "password" for the account. Along with this a broker will also provide a link where you can download their forex trading platform. Click the link and download the forex trading platform.

Software

For this step you will then install the platform you have just downloaded.

To install forex platform

Go to download folder(to navigate to download folder, maximize the firefox web-browser window panel & click keyboard shortcut key CTRL+J, this will bring a popup panel of the download folder)
Double-click the setup package of the forex software you've just downloaded.
Follow the instruction by clicking "accept" and then click "next", "next"….. Until you get to the "finish" button, then click finish button and your installation is complete.

To Open the Forex Trading trade platform

Go to desktop & look for the short cut Icon for the Forex Trading platform, it should have the name or logo of the broker. Or you can go to "Start menu" bottom left corner of your comp and form the programs menu look for the name of the forex trading platform.
Once you Open the forex trading platform, then you need to login to your forex trading platform:
To Log in
Navigate to "File" at the top left corner of the forex trading platform
A drop-down menu will appear, from the option look for "sign in" click it
A Username and Password Login panel pops up, Input your password and username you got when you signed up with your forex broker.
If you forget your username & password, open your email account that you signed up with and you will have gotten an e-mail from the broker where you can refer the username & password details.
After you have logged in to your account, now you are ready to learn how to forex trade & how to place trades using this forex trading platform.

How to Trade with the forex trading Software

So as a beginner trader it may seem complex but let us just look at some pointers on how to forex trade this forex trading platform.

The first windows are market watch this is simple straight forward window that display prices of currencies that you will be trading. You can also right click on any price feed for example the EURUSD symbol to open a display of a forex chart like the one above, the forex chart you will open in this case is The EURUSD chart, If you want to open another chart for example GBPUSD go to market watch window, right click GBPUSD symbol, click open Chart.

The Data window will show data about you logged in forex account, and data of indicators as shown in the above screenshot.

The terminal will show account balance & all open trade, to expand this widow, hover your mouse until the cursor changes, then click and hold down mouse button key and move the mouse up.

Then there is the menu bars, example File, View…. If for example you want to hide the market watch widow, click view and uncheck/untick the market watch widow, the market watch window will disappear. To make it appear again click view again, then check/tick market watch window, it will reappear. Each button on this menu is self explaining for example charts button is a button that manipulates the charts opened, changes timeframe, generally all about charts.

To learn the complete forex MetaTrader 4 tutorial go to MetaTrader 4 Forex Trading Guide & About Forex Trading Platforms.

By now you already know how to trade & can even place a buy or sell trade on the forex trading platform by right clicking anywhere on the forex chart window above, then click trading, then open a new buy or sell trade using the window panel that appears.

But because you don't know when a trader buys or sells a currency, and because you do not know how to forex trade with market orders, you need to learn just a few forex trading for novice traders forex trading tutorials to complete these how to forex trade tutorial, and because these lesson cannot fit on this page here are the links to these how to forex trade guides:

Setting Up Forex Tutorials

1.How to Begin Forex trade for Beginners an Online Forex trade Tutorial

2.About Forex trade Sites and Forex trade Blogs

3.Online Forex trade Guides & Forex trade Education

4.Best Forex trade Tutorials & Forex trade Training Made Easy

5.Forex trade Advice: What You Should Know

6.Global Forex trade Market Participants

7.Major Forex Currency Pairs

8.Forex Currency Pair Names

9.Benefits of Spot Forex trade

10.How to Read Forex Currency Quote

11.Forex Lots and Contracts