How to Become a Forex Trader

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How to Become a Forex Trader

How to become a forex trader, to be able to become a forex trader it is very easy that you only need to choose which forex broker will be your forex trading partner, of course you have to choose the right broker, then register as a customer and deposit funds, and last of course you have to run a forex trading business itself, that is by buying and selling foreign currency in the forex market, then you can be said as a forex trader. But before deciding to become a forex trader there is one thing you must ask yourself, namely,
Are you really ready to invest your time and mind
to master this forex trading business!
Because of what ? because forex trading is not a place to get rich quick . Why ? because to run this business we need a lot of learning, patience, discipline, hard work, and that is not less scary, we are always faced with risks . So, if you want to get rich quickly overnight then here, the forex trading business is not the place and maybe a casino or gambling place is a place that suits you.
Forex trading is a business that can be learned and you can become a successful forex trader if you keep learning from time to time and experience a lot of experience with running this forex trading business. And the good news is that to learn about forex trading you don’t need to worry because in this blog there are lots of writings that you can use as a reference or reference to hone your knowledge about forex trading, no need to pay for free. And to find out if you really understand what forex trading is, you can practice first using the DEMO ACCOUNT and then you can see how much profit or loss you can get. You can make this profit / loss basis as a reference whether you are ready to become a real forex trader or not.

If you still feel that you cannot run a forex trading business well based on results when running a demo account, then it is highly recommended that you never open a real account that uses real funds because the results are predictable, that your chances of getting a loss are huge. And this also shows that you really have to practice more before actually becoming a real forex trader.Don’t ever force yourself because forcing yourself is not good, yeah!

Media or Tools for Running a Forex Trading Business

To be able to trade forex you only need a computer or smartphone and a stable internet connection. This is important, because there are so many cases of losses experienced by a forex trader that are caused by an unstable internet connection. This happens a lot especially for those who do forex trading in the scalper style.
For software or trading platforms you do not need to spend a lot of money because it has been provided by each broker for FREE and the type of trading platform that is widely used by forex traders is MetaTrader4 / MetaTrader5. Almost all forex brokers already provide forex trading platforms that can be run on Android, Iphone or tablet based smartphones so that it makes it easier for a forex trader to execute trading execution anywhere.

Capital to Start Forex Trading

To start forex trading, you can start with just $ 1 of capital, but for those who have successfully run this forex trading business, they usually start running this business with a capital of $ 300- $ 2,000, but before starting forex trading that uses real funds, it is highly recommended that you use an ACCOUNT DEMO first with the aim of knowing how far you have capability and familiarization with the forex trading platform that will be used itself.
If you have succeeded with small capital and have been able to make money between $ 10,000 – $ 25,000 then you can choose a large broker that is dedicated to professional traders and of course to get commission fees and smaller spreads PLUS other premium facilities.
So it can be said that you can invest a large amount of money only if you are sure that you are fit and comfortable with this business model

Related Search

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