How to learn forex trading, As a new trader you are about to start a new business in forex and fortunately, the foundation of your new business is there. It is a global network of commercial banks and currency traders connected online so that this market is available 24 hours a day ready for traders, big and small, all over the world.
In this article you will learn how to start forex trading. What tools and systems to use, common mistakes you should avoid, how to choose a broker, conduct trading with demo accounts and more.
How to start forex trading?
Before you start trading, you should prepare your computer, provide the Internet, and follow the following tips:
- Be curious and learn all you can about forex.
- Trading fiat currencies in a demo (mock) account
- Choose a forex broker and start real trading with small trades
- Equip yourself with the latest tools and systems
- Avoid common trader mistakes
- Continue reading and educating about forex trading and assets.
- Learn, learn, then learn. You can visit to learn trading on our website.
Be curious when learning forex
You should read all the articles on the world of trading and money, and learn about the basics and money management, technical and fundamental indicators.
Don't forget that there is a wealth of educational materials online:
Our forex and trading education site offers educational lessons that aim to benefit you and provide valuable information easily and clearly.
Learn forex trading for beginners
- As an important tip, if you have never traded forex before, please start trading in your MT4 demo account.
- Demo accounts allow users to use “fake money” to practice trading using live data.
- It is a very similar simulation as if you were trading with a real “real money” account.
- Once you create a “paper trading” account, you will be able to trade the fictitious money as if it were hard currencies.
- With these demo trading accounts, you will be able to see how the forex or forex markets work on the platform.
- And how to act in the face of the conditions that affect the market, including reports and news.
- You should take this demo account seriously if you want to benefit from the experience.
- MetaTrader 4 (MT4) is the preferred platform for forex traders and brokers alike.
Learn forex through a licensed trading company
- Although trading with a demo account is essential for you as a new trader, you eventually have to work on your own to trade in a real account with real money.
- You will never know what it means to be a trader until you trade at least a real account with the lowest lot size.
- All human limitations to trading (greed, fear, ego, etc.) can only be tested when real money is at stake.
Advantages of licensed trading companies
- Does the trading company provide low enough spreads?
- Does a forex broker registered or licensed by the regulatory authorities aim to protect the interests of clients?
- What kind of tools does the forex company provide?
- What is his margin policy?
- What support does the forex company provide to clients?
- If you do not have enough capital, does the forex broker offer mini accounts or accounts that require low startup funds?
Learn forex and trading through the trading platform
- After downloading the MetaTrader 4 platform, you will notice that the platform is equipped with a number of useful indicators and trading tools, and above all, it is free and used by thousands of traders.
- We strongly encourage you to search the Arab Forex Trust website for excellent information on trading and trading strategies. Some use an Expert Advisor, called an Expert Advisor, a forex robot, designed to provide 100% mechanical trading on a platform MT4.
- The EA monitors the market 24/7 to look for buying and selling opportunities based on programmed trading conditions.
- Many EAs can be obtained for free in various places on the Internet.
- There is a lot to buy, most of which sell for somewhere between $90 and $300.
- However, be careful, most of the bots can help you lose more money than you win due to the simple fact that the market is very risky and 95% of bots fail because their intelligence is limited.
Avoid common trader mistakes
- In short, try to control your emotions and avoid trading them.
- Avoid over-trading in your account,
- Avoid excessive opening of your positions.
- and avoid bad money management.
- Avoid risking what you cannot afford in forex trading.
- Forex trading has a lot of risks and traders are always advised to trade and learn at the same time.
- Be aware of the common mistakes most forex traders make and set your own rules while trading the forex market.
- To avoid making those mistakes, trade with discipline and always be prepared to learn new concepts from others.