Many people are concerned about where to start trading foreign exchange when they first start trading: choose a platform directly, directly deposit hundreds or thousands of dollars, and follow what everyone often discusses, starting with gold, crude oil, and euro against the dollar. Trying to place an order? Or add a few friends in the industry to learn to discuss and analyze the market? Or add a few so-called great gods to call a single group and start fishing in the muddy water to try your luck?
I want to talk about my own views, which are purely personal experience and transactions after personal experience, for reference only...
First of all, what I want to express is that whether it is a part-time job or a full-time part-time job, you should fully understand these links before you can officially start the first formal transaction in your life...
The first link: understand the formation of the foreign exchange industry, participants, development and regulatory status in different regions, and the current mainstream brokers in the foreign exchange industry...etc.
The second link: fully understand the specific information of the target you want to trade, including the margin of the transaction target, the size of the transaction contract, the high and low price of the historical trend, and the overall historical volatility range, and fully understand the daily average volatility. Here you can use the indicator ATR Understand... It is recommended to start with one or two varieties that you know or are most familiar with at the beginning
The third link: You can choose a platform where you are going to deposit and trade, download MT4 software, and apply for a demo account. The demo account should not be too large. It should be matched according to the amount you are about to deposit. If there is no choice that is too small, choose the smallest demo account Apply for the amount, the next step is to get familiar with the product you are about to trade and start to try to place an order simulation to understand the value of each point of fluctuation, as well as the size of the contract and the proportion of the margin occupied. Here, more hope to understand the specific contract , volatility, margin occupation ratio, target volatility and other relevant information; the purpose is to establish a preliminary market risk awareness! This is an important point!
It is recommended to spend a week to two weeks to get familiar with it! Placing an order is secondary, the main thing is to be familiar with the use of software and understand the daily fluctuation range of market-related targets and specific market and contract parameters!
Only when you have fully prepared and summarized the previous steps, can you officially start trading in the real market...
Otherwise, you have to go back and start again later. This result is the lightest, and it only takes time; but it may also make the tuition fees for future transactions several times higher than others, and it may even end before it even starts...
Forex trading is on the road and cherished...
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