How to start making money on Forex from scratch, training and practice
If you understand that you can earn really big money only by engaging in investment activities and trading, then the question immediately arises before you - How to start making money on Forex.
After all, Forex is now the most accessible and profitable exchange, the reason for this is the provision of maximum leverage – 1:1000, or even 1:2000 and simply fantastic capabilities of the trader’s terminal.
Currently, using the trading platform, you can trade not only currency pairs, but also many other interesting assets - gold, copper, oil, company shares, cryptocurrencies, etc.
Starting Forex trading from scratch consists of a few simple steps, which I will describe below, but in order to start making money it will take a little more time and effort, but as they say - He who does nothing has nothing.
Everything is not as difficult as it might seem at the beginning, the main thing is to take the first step and not give up if something doesn’t work out right away.
Starting Forex trading from scratch
• Step one is choosing a broker, a rather important point, during which you need to find a brokerage company that is suitable for you and at the same time reliable. This topic is covered in detail in the article “ Choosing a Forex broker ”.
Here everything is the same as with the choice of household appliances: by choosing a well-known brand, you can be sure of its normal operation, but if you buy into a lucrative offer from an unknown brokerage company, expect various surprises.
• Step two - registration and everything connected with it, open an account, but you should not immediately use VIP accounts, it is better to start with demo or cent accounts. Because, without enough experience, there is a risk of quickly losing money.
In recent years, starting Forex trading from scratch has been associated with account verification; this is quite an important point, since without confirming your registration data, you cannot withdraw profits. Therefore, be careful what you write when registering your personal account. You should not provide false information.
A separate topic is replenishing accounts; the easiest way to do this is using a payment card or phone. How to do this is described on the page - “ How to fund a Forex account ”:
• Step three – installing the trader’s terminal; to do this, download the trading terminal on the broker’s website and carry out the standard installation. Full instructions for this program are located at the address - “ How to work in MetaTrader 4 ”.
On the same page you can download metatrader itself, and then open a demo account from it, thereby not registering with a broker; this can be done if for some reason you do not want to register with a brokerage company yet.
For example, you are under 18 years old. • Step four – choosing a trading strategy; in order to start making money on Forex from scratch, you need a strategy. You can create it yourself or use the work of other Strategy .
simple patterns to make money on the basis of which one enters the Forex market.
How to start trading on Forex without experience from scratch is, unfortunately, far away not the most difficult question, then you will have a lot of other questions, the answers to which you can find by downloading books on our website.