How to learn trading from scratch and start making money on the stock exchange
The most difficult thing in any business is the first step, the beginning of the process, when you need to start, but you don’t even put down what you need to take on.
Moreover, it is one thing if you study with a teacher, but completely different if you have to gain knowledge on your own, without outside help.
I am also often asked how I began my acquaintance with stock trading, because thirteen years ago there was much less information and opportunities than now.
It’s inconvenient to admit, but I used the so-called “trial and error method” when first you try to perform an action, and if something doesn’t work out, you look for instructions on how to do it correctly.
Moreover, it is not at all necessary to risk your own money; for studying there is a demo account and a no deposit bonus.
Stages of learning to trade
- Register with a broker
- Download trading platform
- Learn to work with chart windows
- Opening a demo account
- Learn to open trades
In practice, this process looks like this:
- First you need to register with a broker and receive a no-deposit bonus of 30 US dollars.
For registration, I recommend the broker RoboForex , since it is from him that you can get a bonus of $30 without replenishing your account. The money you receive will allow you to try your hand at a cent account.
Description of the registration process - https://time-forex.com/vopros/kak-otkryt-schet-foreks
- Then, on the broker’s website, download the MetaTrader 4 trading platform and install the program on your computer.
- The program is distributed completely free of charge and does not impose high requirements on the equipment on which it will be installed.
How to install metatrader - https://time-forex.com/praktika/ustanovka-platformy
- After you install metatrader on your computer, you should deal with the chart windows, by default there are four of them.
To do this, we minimize or close the extra windows and leave one, which we expand to cover the entire area of the graph. I recommend leaving the EURUSD pair for training, since it contains the most information.
- At this stage, open a demo account on the account tab or enter a demo account that has already been opened in the trader’s personal account with the broker.
Opening a new demo account is quite simple, the process takes only a couple of minutes and is done in a few clicks.
How to open a demo account in MT 4 - https://time-forex.com/azbuka/otkryt-demo-chet
- And so, you already have a demo account, you can try to open your first Forex trade. The window for placing a new order is launched by pressing the F9 key on the keyboard or through the trading platform menu.
Instructions for opening an order - https://time-forex.com/azbuka/kak-otkryt-sdelku-forex
After this, all you have to do is choose which order you want to set: market or pending, the volume of your virtual transaction and the stop loss and take profit parameters. Having set all the settings, click sell or buy and the first deal is opened.
While trading, you will notice that not all transactions will be profitable, and this is where you should start studying disciplines such as fundamental and technical analysis. Market analysis will allow you to find the right points to open trades.
You can also get acquainted with ready-made trading strategies , checking their effectiveness in practice.
This is how you can learn trading from scratch on your own, without resorting to the help of teachers and without absorbing a mountain of unnecessary information. Trade on a demo account, and find answers to all your questions on our website or on the Internet.
When you see that the number of profitable transactions exceeds the amount of unprofitable ones, it is recommended to try your hand at a cent account using the no-deposit bonus received upon registration. This will give you a taste of trading with real money.
You will find additional information for beginners in the section - https://time-forex.com/azbuka
Perhaps someone will advise a different approach on how to learn trading, but I managed to master all the nuances of stock trading this way.