How Do I Trade - New Trader Wanting to Start Trading

Let us you are a new trader wanting to start trading but you don't know what's forex trading or even how to 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 trade.

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

Forex Practice Account
Software
Setting Up Guides

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

Forex Demo Account

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

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

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

Step2: Go to this 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 & e mail 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 software.

Software

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

To install software 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 & your installation is complete.

To Open the Forex trade platform

Go to desktop & look for the short cut Icon for the Forex 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 software.
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 dropdown 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 and password, open your email account that you signed up with and you'll 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 trade and how to place transactions using this software.

How Do I 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 trade this software.

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 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 panel 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 and all open trade, to expand this widow, hover your mouse until the cursor changes, then click and hold down mouse button key & 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 panel 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 Guide & About Softwares.

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, & because you don't know how to trade with market orders, you need to learn just a few forex trading for novice traders trading tutorials to complete these how to trade tutorial, & because these lesson cannot fit on this page here are the links to these how to trade guides:

Putting Up Tutorials

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

2.About trade Sites and Forex trade Blogs

3.Online Forex trade Guides & Forex trade Education

4.Best trade Tutorials & Forex trade Training Made Easy

5.Forex trade Advice: What You Should Know

6.Global trade Market Participants

7.Major FX Currency Pairs

8.Forex Currency Pair Names

9.Benefits of Spot trade

10.How to Read FX Currency Quote

11.Forex Lots & Contracts