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How to start with forex?
Hello. I'm really new to online trading currency and all that stuff. In fact, I havent ever done. I want to start with forex trading online but I need some advice. How do I start? I got the demo account and I can only see graphics and symbols, I have no idea: D Do you know of good free online! tutorials? So I must pay for the real? Thx for help
Here's the answer I gave to the same question yesterday: First, learn more about the 50% retracement rule. This rule The most simple and reliable for an early operator. You can ignore all the other "technical" or a scoreboard when you're first starting. You can learn about it by googling for it, or finding a book. Second, learn what to expect and not wait for "advice" you find in your research to learn the commodities markets work. This "council" will come in the form of fundamental analysis, news, websites, technical analysis, Investment Dealers Investment Advisors. The best way to learn things attention and which to ignore, is to read the book "Wall Street: The Other Las Vegas." It may look like a title of cheese, but it a good book written by a dancer who began trading in securities, and learned that trust and what not to trust. He learned the hard way. Once He did the math, he turned around 50,000 dollars in two million dollars. Third, you will need to develop a business plan. This will be mainly based your 50% retracement. rule. To this you add a method to control your losses. For traders start, the best way is to learn to use "stop losses." Thus, you will enter a trade school in the rule, you let your profits run, and you limit your losses. Then, you open an online account with a stock, currency or futures brokerage. It does not matter. day trading is anyway. If you want to trade stocks trading stocks. If you want to currencies or futures contracts, do. The differences are as follows: Stocks usually require several thousands of dollars to trade. They tend to charge higher commissions and fees. With stock accounts you can usually buy a "little" over how much money you have. This is called the "margin". You can open currency account with a * very * little money. Like, $ 250. The coins are "leveraged" trading. A little direction goes a long way. It's good and bad. A term deposit account is the Commodity Futures Trading, things like oil, sugar, coffee. Again, highly leveraged. Need a minimum of 10,000 to open it. If you live in the United States, here are things to look for when shopping for a brokerage: – If you go trade stocks, find a brokerage firm a member of NASD and SIPC. This means that the company is "regulated" and you will not to worry about them stealing your money. – If you trade currencies or futures, Make sure the company is a member of the National Futures Association (NFA). Then open your account. If you open a currency or a futures account, the cool thing is, you can "practice" exchanges with their demo accounts as long as you need. This is very useful. I recommend doing so. Finally, once you get used to trading, start to learn about additional methods of risk control. Such things as margins are very useful choice.
Lesson 05 | THV System Part 02 | Free Forex Trading Lessons
