How Do I Start Forex - Steps To Setting Up for Beginner Traders

For beginner traders wanting to learn how to trade the market which is a complex market, the question is how to begin? - Best way to learn is to first put aside your money open a practice trading account this way you can start online trading without any deposit, meanwhile, train by reading online guides available on various sites available on internet, although we would highly recommend just sticking to the one & only top, best, recommended course web site - this website, but feel free to go anywhere else and waste time on those other websites.

How Do I Open Demo Account to Trading With? - How to Open Demo MT4 Account in MetaTrader 4 Software Platform

How Do I Open a Demo Practice Demo Account

This website covers all training tutorials - the quickest method of how to start is to following and taking the following steps:

Get a free online guide for beginners lesson - this website
Find one of the best online brokers
Download the free software
Open a free demo - A demo is meant for practice, with this demo you can begin practicing without positing/investing or investing money, on this account you trade the live market only that you'll be transacting with virtual money.
After signing up for a free Demo, come back to this site and on the homepage follow the steps and guidelines to start learning the lessons.

After following above guidelines, you're ready to start, start and begin with the free course just as is shown above.

Learning these guide concepts will take at least a couple of days to a few weeks of more, some concepts can be confusing for new traders at first, but here we have simplified them for you, but we are not going to lie to you, some of them at first will be confusing. For example, you'll get knowledge about buy limit, buy stop, sell stop, sell limit, entry limit order, entry stop pending orders, I can feel some heads spinning, especially for beginner traders, wait until you open software platform and you'll freeze and stare at your screen for 10 minute trying to figure out what is what. Don't worry within next ten minutes this training course will teach you the whole currency platform with 2 simple lessons & you'll know the platform and operate it with the ease that you operate MS Word Application: MT4 Lesson

The software which is used for currency exchange transactions is called MT4 platform software or just MetaTrader 4

The screen shot below shows user interface of this platform.

Forex Platform Software for Online and Placing Orders

FX Platform/Software for Online Trading & Placing Orders

After this you're completely setup, navigate to the top navigating menu & access the lessons explaining the terms used in the global exchange market & other basic forex concepts and strategies.

Forex Platform Softwares:

What is a platform? This is the software used to connect to the exchange market by joining traders to the online broker so that they can place transactions through the internet (online).

Brokers:

Traders must place transactions through a online broker: you can't transact currencies without a online broker. Brokers don't charge you anything to open an account, i.e. There is no setup fees. The broker only charges if you make currency transactions, if you do not transact you are not charged. The online brokers make money by charging a few dollars for every trade this is referred to as the spread.

Currency Charts:

Currencies are analyzed through graphs which are commonly referred to as currency charts, in basics guide at top navigation menu of this web site, you'll learn these charts & how to interpret these charts to generate buy and sell signals.

Forex Basics Guides - Learn Currency Charts Analysis - How Do I Start Trading Online Guide?

Learn Basics - Charts & Technical Analysis

It is best to begin trading with a demo first, then after you start making profits on the demo you can then open a live/real account and deposit any amount you want, but before you do that make sure you read these three topics, equity management, leverage and margin, forex plan. Beginner Traders ask the question how much money to begin with? The answer is the more money you have on your real/live account the better the risk management, because you will not be under capitalized.

How Much Money to Begin FX Trading?

Do not begin with $10, even if your broker tells you that you can start with that amount, in fact do not start trading with $100 dollars as this is not enough to trade with. It's best to save & begin trading when you've $10,000 which is the minimum amount recommended to begin investing with.

If you want to start with $10,000, open a micro account and only open micro lots

If you want to start with $100,000 dollars, open a standard account and open standard lots

There are 2 types of accounts that traders can open: micro and standard. For each recommended starting capital is specified above.

How to Use Demo Accounts

However, for beginners there's a practice account provided for practice and this way beginner traders can start without any investment and practice risk free on the demo trading until they learn the basics and the various methods used in trading the currency market. It is recommended for beginners to follow this method where first they start by practicing without investing real money as they take time to learn what's required to trade profitably.

Follow these steps:Learn to practice practice with a free demo for 30 days then open a real account

Technical Analysis and Key Concepts Training:

Know all about analysis & how to combine indicators to form a complete system that you as a forex trader can use to profitably generate trading signals. Read all the tutorials to ensure you've got all the required knowledge.

Finally, be ready to study and do a lot of hard work - study each and every topic here and practice these concepts on a free demo account.

We go above and beyond what most traders know when it comes to expounding what Forex is and how the online exchange market works and provide you with as many tools as possible. We go in to in-depth analysis of currencies.

The information on this site answers the question, how does FX work? and has more information than what you'll ever get or find on any other online trading training website or book, screen shots, pictures and screen shot illustrations help to make the explanations easy such that we've compressed years of experience & training on one siteBe ready to study from these tutorials til you know how to make profits in Market.

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