If
you've looked into trading forex then you have most doubtable been
exposed to all the various opportunities to make money and are wondering
which is the best way to learn forex trading. First of all, the
foremost thing I would advise is to get a Forex Education. There are
countless material on Forex in the internet for newcomers as well as
experienced traders - all you need to do is search. Spend some time
reading up on how forex trading works, the concepts behind trades and
how prices are impacted by economic and political conditions.
Secondly
you must get some experience, if you want to learn forex trading, it's
the only way. To begin with it is prudent for this to be on a demo
account. This will give you a good technical foundation on the mechanics
of making forex trades and get used to using a trading platform.
After
having traded for some time on a demo account it is very important to
also use a Real one, albeit with little investment amount - find a
broker that will accept lower sized trades (0.01 lots for FX) so that
you can get a real feel for the live market. It is a whole different
game trading on a demo and real platform, due to the psychological
effect that trading with real money has. Trading small will allow you to
put your money on the line, but at little risk if you make mistakes or
lose money.
From there, provided you are gaining more than you are
losing, you should gradually increase your trading size and invested
capital, always keeping in mind it should be an amount you can afford to
lose and which you feel comfortable with.
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