How to start trading on Forex?
Information is not investment advice
So, you want to become a Forex trader – be your own boss, trade currencies, make a lot of money. The natural question is “Where to start?”. We prepared a simple answer! Below you will find several steps which will form a short way to your financial freedom. Please note that every step contains a link that offers a clear explanation of what to do.
1. Register at fbs.eu
During this step, you will open a trade account and receive your trading password. You will also get a personal area, where you will be able to deposit money that you will need for trading.
2. Download trading software
Choose a software option that suits you, download it and login. You will get connected to the Forex market!
3. Discover the basics of Forex
What exactly is trading? What currencies can you trade? When can you trade? We have prepared a few short videos to answer these questions.
Watch videos
4. Open your first trade
Get your first taste of trading! See for yourself that it’s quite easy to open and close a Forex trade.
Watch the video
5. Learn how to analyze the market
After you found out how to open trades, you will need to decide which trades to open – buy or sell. For that purpose, study how to ‘read’ price charts and understand economic news.
Read the guidebook
6. Start controlling your risks
Learn how to limit your risk exposure and increase your profit potential from the very beginning.
Read article
7. Study the trader’s phycology
Soon after your first trade, you will understand that this process is stressful and you need to get into the right mindset. We have gathered psychological tips from experienced traders.
Read article
If you go through these steps, you will be prepared to start trading Forex. Learn, practice and become a better trader with each trade!
Other articles in this section
- Demo accounts
- MACD (Moving Average Convergence/Divergence)
- How to determine position size?
- Leverage and margin
- Swap and rollover
- Transaction, profit, loss. Types of orders
- Economic calendar
- Bid and Ask price. Spread
- Calculating profits
- What are pips and lots?
- How to trade?
- Currency pairs. Base and quote currencies. Majors and crosses
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