First steps or preparation for Forex trading.

The success of any business depends half on proper preparation and organization; preliminary steps make the work more comfortable, and therefore more effective.

The trading process is no exception; before it begins, you should also complete several preparatory steps and organize your workspace.

First of all, you need to find out the following points - whether your computer meets the necessary parameters, choose a place and time of operation, and decide on the method of calculations.

Computer power.

A rather important point when trading Forex, if your trading terminal freezes at the most inopportune moment, you can lose quite a decent amount, and in some situations, lose your entire deposit.

Each trading terminal has its own system requirements, which should be found on the website of your broker.

As for MetaTrader 4, its minimum requirements are a processor of 1000 MHz, RAM of 512 MB, disk space of 0.5 gigabytes. It is desirable that these parameters be at least twice as large. This aspect is described in more detail in the article “ Computer for Forex ”.

When and where?

If while working you are distracted by questions and conversations every 5 minutes, you are unlikely to be able to concentrate on trading.

Therefore, we choose the time and place of work especially carefully; the best option is if you leave home.

This will create a psychological mood for you and those around you, but unfortunately not everyone has a second apartment or parents living nearby. If you have the means, you can rent a small apartment or office, this will also serve as an incentive for fruitful work.

The second option could be the time when all your loved ones are resting - at night or early in the morning, the latter is preferable.

Replenishment and withdrawal.

If you have a bank card or e-wallet, there are no questions here.

Otherwise, you will have to open a bank account and get a plastic card. You can replenish your deposit and withdraw profits through bank transfers, but this method is quite labor-intensive and expensive, so it is better to use the above options.

Safety.

After registration, dealing centers usually send a letter with a set of passwords and the necessary data; you should take care in advance where you will store confidential information.

A secure flash drive is best suited for such purposes, or as a last resort, pack the files into an archive and write to a regular flash drive.