Want to become a forex trader? Where exactly does it all begin?
Here are the steps you can take to ensure you score high rather than end up with a string or regrets for the rest of your life.
· The Basics: Set realistic goals. Resist the temptation to go in head first however tempting that is. Set measurable goals as you start out. A profit of 100 pips per month is a great place to start. Additionally, keep your trading capital (at least $300) ready.
· Choose a Forex broker: Personally I use Forexchief broker; Some of its features are 1:400 leverage, low spreads and fast order execution. I did my due diligence before registration, so you must do the same. You can’t trade Forex without a retail broker, so choose wisely.
· Practice on a Demo Account: Before going live, you want to flex your muscles via a demo account.
· Seek Plenty Of Advice: Along with practice, you need someone who will show you the ropes of forex aside from forex resources.
· Go Live: After a few months of making consistent profits on the demo account, start making live trades. Stick to the same practices no matter what.
Here are the steps you can take to ensure you score high rather than end up with a string or regrets for the rest of your life.
· The Basics: Set realistic goals. Resist the temptation to go in head first however tempting that is. Set measurable goals as you start out. A profit of 100 pips per month is a great place to start. Additionally, keep your trading capital (at least $300) ready.
· Choose a Forex broker: Personally I use Forexchief broker; Some of its features are 1:400 leverage, low spreads and fast order execution. I did my due diligence before registration, so you must do the same. You can’t trade Forex without a retail broker, so choose wisely.
· Practice on a Demo Account: Before going live, you want to flex your muscles via a demo account.
· Seek Plenty Of Advice: Along with practice, you need someone who will show you the ropes of forex aside from forex resources.
· Go Live: After a few months of making consistent profits on the demo account, start making live trades. Stick to the same practices no matter what.