Forex trading for beginners.

Many people have heard about huge earnings on the Forex market, but they have absolutely no idea how to start independent trading. At first glance, it seems to a beginner that everything is so complicated that it is simply impossible to figure it out, but this is only at first glance, in reality, in order to start trading you will only need one day, but in order to earn much more. These two questions will be discussed in this article.

Forex trading for beginners is divided into two stages - preparatory and trading itself. If the first steps usually do not raise questions, then in the second part there are a lot of them.

Preparing for Forex trading.

1. Selecting a dealing center - as you know, all operations on Forex are carried out through intermediaries, the same dealing centers. It is quite difficult to find the best option on your own; I advise you to simply choose one of the first companies on the list of dealing centers .

2. Top up your account – surprisingly, this step also sometimes raises a lot of questions; you can find a detailed answer in the article “ How to top up your account on Forex ”.

3. Download the trader's terminal - this program is designed for opening orders. It can also perform many other functions.

After this, you can directly proceed to trading itself.

Practical trading.

Some of the newcomers to Forex think that in order to start trading, you need to be an economist and at least know the basics of economic analysis. But it’s no secret that most professional traders have absolutely nothing to do with economics; basic skills come through the process of trading and studying. And at the initial stage, you can try trading based on fundamental analysis. That is, use a news trading strategy .

As an option, you can also use one of the ready-made Forex strategies, the description of which usually describes in detail how to trade and what should be taken into account when opening positions.

Another important aspect is risk management, that is, the minimum level of losses that you can afford from one transaction. The recommended loss amount is no more than 3% per transaction, and better yet, even less. That is, if you trade with a deposit of $1000, you should not lose more than $30 per trade. This indicator is controlled by setting a stop loss order, which is placed simultaneously with the opening of a position.

The main task of trading for beginners is not to earn money, but to save your deposit, and learn how to trade correctly, and big earnings will come only with experience.