What is the first step to making a profit?

[LouBega88]

To start nicely, try to select a regulated trading broker. Forex is especially a great opportunity for job seekers who badly need a profession to develop their trading career.

 

[Bibulous]

Prior to starting to trade, it is essential to have a firm grasp of the fundamentals. The currencies you plan to trade, the amount of risk you're willing to accept, and the strategies you want to use must all be known to you. You can begin demo trading once you have some understanding of forex trading. Also, prefer to join forums linked to forex. You can interact with other traders on these forums and learn about the market from their perspective.

 

[Crumple]

This is why it is paramount that we register with a broker that is regulated and have long been in the market.

Absolutely, and there are so many reliable ones in the market - aaafx, icm, fxpro, the list is endless!

 

[LeaseBear]

Scanning, analysing and reading the market sentiment is important to make the correct decisions and move with the market, when necessary. Traders need to keep in mind the different factors that affect the market and how you should minimise the impact. Following a plan helps bring structure to the process and keeps you organised. There are many books available online that can help guide you in the right direction. Minimising risk should be the first step, always.

Well said! I will surely keep this in mind.

 

[Eduardo Lucchese]

Forex trading puts pressure on your mentality and sometimes traders become unable to reach a conclusion of their analysis.