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Beginners guide to forex trading

I know a lot of people will be asking this question how do I get started with forex trading, which is a good question because knowing where to start off from for something you have little or no knowledge about is a plus. 

So I will be listing things you need to know in other for you to start on a good ground.

Okay let's dive into it;

1. First and foremost you need to learn how to trade the market: there is a lot of information out there from Google to YouTube, so you can start-up from there to get relevant information. To make it easy for you as a beginner am going to recommend babypips for you, search about them and go to their education tab and you will get the information you need. 

2. Secondly and this is very important, guess what guys you have to avoid all the B.s that's out there, that is all the MLM scheme, they promise you so so amount of profit after some time, guys when it comes to forex you just have to avoid guys like this if you don't want to start on a rough ground.

3. It might seem hard as beginner for this tip however it will go a long way as time goes by, look for someone and buy their course, because it's going to save you a lot of time, your learning curve will be short as you learn from the persons own mistakes and how the person as gotten to the level he or she is now. So get a course. 

4. Find a broker, a broker is the middle man in this business, what I mean by the middle man is they give you the opportunity to trade in the market by giving you a brokerage account for you to perform your trading activities. So how do you get to know a good broker, Check my next post on broker firms.

5. Open up a demo account to practice how to trade with paper money, I know some beginners will be like I don't need to practice on a demo account, I just have to go live, please and please if you don't want to go back hurt, open a demo account and practice as if your life depends on it, and when you feel confident about your strategy you can go live. 

6. Finally, open up a live account, I know this is the part most beginners want, so after doing the first 5 tips am sure you will be able to trade on a live account, catching the pips.

So that's it guys, this 6 tips are what you need as a beginner to start trading the forex market, I will be making new post on different aspects of the market, so always stay tuned, go catch the pips.

Content created and supplied by: MannyTamz (via Opera News )

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