Forex trading for beginners.

Many have heard of the huge profits that can be made in the Forex market, but they have absolutely no idea how to start trading independently. At first glance, a beginner might think it's all so complicated that it's simply impossible to figure it out. In reality, it only takes one day to start trading, but earning much more is a matter of time. These two questions will be discussed in this article.

Forex trading for beginners is divided into two stages: preparatory and actual trading. While the first steps usually raise no questions, the second stage presents a host of challenges.

Preparing for Forex trading.

1. Choosing a dealing center – as we know, all forex transactions are conducted through intermediaries, the aforementioned dealing centers. It's quite difficult to find the best option on your own, so I recommend simply choosing one of the first companies on the list of dealing centers .

2. Fund your account – surprisingly, this step also sometimes raises a lot of questions. You can find a detailed answer in the article " How to fund a Forex account ."

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

After this, you can proceed directly to trading itself.

Practical trading.

Some Forex newbies think that to start trading, they need to be an economist and at least know the basics of economic analysis. However, it's no secret that most professional traders have absolutely no background in economics; their basic skills are acquired through trading and education. At the initial stage, you can try trading based on fundamental analysis, using a news trading strategy .

Alternatively, you can use one of the ready-made Forex strategies, which usually include a detailed description of how to trade and what to consider when opening positions.

Another crucial aspect is risk management, which means determining the minimum loss you can tolerate per trade. The recommended loss is no more than 3% per trade, and even less is ideal. So, if you're trading with a $1,000 deposit, you shouldn't lose more than $30 per trade. This is controlled by setting a stop-loss order, which is placed simultaneously with the opening of a position.

The main goal of trading for beginners is not to make money, but to preserve your deposit and learn how to trade correctly. Big earnings will only come with experience.