laugh if you want, I wish I had read it before I started trading forex keep in mind, 50% of it is bullshit but that's better than average when you are looking for info on forex
Welcome friend- The basis of the first trading is done is to learn about the terms in the forex pips for example, leverage, margin call, take profit, stop loss, etc. and then improved by learning to use a demo account, along with learning method and control of the emotional life
Everyone want to make money and afraid of losing it. however not many people can earn much in this market. You need to know the reason why. good broker is the first step. I advise you to check more reviews and test by you own to find the best one suitable for you.
Hi, Learn the language of forex trading especially the terminology. For example Forex volume is the amount or quantity of money being traded in the market at a particular point in time. By pip we refer to the increase of one hundredth of a percent of the value of the currency pair you are trading. A trader buys a currency thinking its price would increase and sells a currency because he thinks its value would decrease. Get familiar also with the language of technical and fundamental analysis.
Hi , If we have decided to use forex to earn some money, so you must be ready to the risk which we will face each time of our trading. So for me, if there is trader who didn't want to lose or afraid to lose money in forex, so he/she must think to enter forex trading. In forex trading, we must loss in our transaction, we will experiences it sooner or later. So we shouldn't afraid to face loss although we shouldn't suffer loss more than our winning. But our psychology must be ready to loss in everytime we entered forex market. Risk and profit is a package which couldn't be separated. If we wanted to take profit, we must be ready to face the risk of losses.
If you don't want to be bankrupt -- you must choose one among at least 3 brokers with a solid background,with many years in the markets,well respected,with a sound capitalization. They could be one n America,one in Europe and one in Asia.Then you spread your capital among them and plan to withdraw regularly. And to start on forex- the best way first to open a demo account to practice and then open a small real account to start trading. You will learn more quickly and boost your confidence in real than in demo. But first Demo.................. then real account..................... good luck
2nd the Baby Pips suggestion. It will help you build a foundation before you delve into any technical books, IMO.