Getting into the forex trading business without experience is without doubt something you don't want to do.
You have to read articles and information about the forex market, as much as possible before start investing.
Decide which online trading platform you want to create an account at. Start to familiarise with the site and it's features to the fullest extent.
The trading platforms investinsider recommends are all serious and established. Keep you eyes on an investment guide such as investinsider so you don't start trading on a bogus or scamming site (they do exist). Take your time before investing and set strict money management plans.
Valuable tips when trading on the forex market:
1) Read as much as possible of free information.
2) Look for downloadable free forex charts.
3) Prepare yourself for some free courses.
4) Test yourself in different situations and how you react to loss, greed and fear. Common reactions while trading.
5) Create an account at a respectable online trading platform. Test the demo version with sums of $5,000 - $10,000.
6) Play with the demo version for about 3 months.
7) Test a real money account with a conservative amount of about $400 - $2,000.
8) Build up your confidence by taking small amounts of the market consistently
9) Important, develop a trading plan containing:
At what size your trading account should be.
How much will you trade each time.
At what timeframes will youtrade.
How much are you willing to risk at each trade.
10) Trading with real money, keep monitoring and track your progress. Make sure you learn new things and build experience.
Create a free forum account at investinsider!
Read our
reviews of online trading platforms.
Good luck and keep your eyes on our forum for more tips, tricks and exchanging information with other traders.
Tips before you start forex trading
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