Tips Before Forex Trading 2021 For Beginners

Tips Before Forex Trading 2021 For Beginners - Not meant to be patronizing, I just want to share my experience with those of you who want to start playing forex. Actually no one is really an expert in the forex world because everyone is constantly learning, including me. Forex is not a matter of exact science after everything is learned and then it runs out until there is no need to learn anymore. Forex is a currency market that is always changing, intelligence is only a matter of prediction, analysis and forecasting.

The beginners I mentioned are not juniors but those who want to start where they have to learn from scratch such as forex terms, forex basics, brokers, charts and so on. Here I will share tips, step by step before playing forex for real with real accounts and money.

Tips Before Trading Forex

Learn terms in forex

It is very important to learn terms in forex before learning to play forex. This is the first step when you want to start a forex business. Knowing forex terms first will make it easier for you to learn forex. For example, when learning from the internet or attending seminars you will not understand what is explained or what is read when the forex term or language is mentioned. The terms in forex usually use English, so wherever you study the terms are still used in English. Therefore, start learning by getting to know the terms used in forex.

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Learn forex basics

Forex basics are really closely related to forex terms, without learning the terms used, it would be difficult to learn forex basics. Forex basics including forex brokerage, technical and fundamental analysis, charts and so on.

You can start learning to read charts and analysis to determine when is the right time to start trading. Don't forget to start monitoring market developments since deciding to learn forex because later knowledge about market developments in the past few months is very important as analysis material, especially fundamental analysis.

Using a demo account

Before actually plunging into the forex market you should use a demo account to trade. A demo account is the final step before starting with a real account after depositing funds with a broker and starting real forex trading.

The advantage of the demo account is the real market. In the demo account the market shown is the real market, only using virtual money. Therefore making use of a demo account is the best way before deciding to trade with real money.

Keep in mind, using a demo account must be serious. Don't just because the money used is only virtual money, you don't have to mean it. This is a demo that should be considered as real money. Don't just because you've been successful on a demo account and want to rush to a real account. It's better to think about it first, it's better to take a long time to start but you are really prepared than to rush but have a detrimental effect.

Get to know your broker

After going through the steps above and you are sure, it's time to go to the real market and choose a broker. Before choosing the best broker, you should know the track record of the broker and their customer reviews. I myself use FBS Indonesia broker. You can register there or choose another broker that you think is better.

I like FBS because it's easy to deposit and withdraw funds. $50 bonus from FBS no deposit HERE.

Those are tips before forex trading for beginners. May you become one of the successful traders.

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