Fri. Apr 19th, 2024

There are several steps to learn forex trading for beginners, and because this is for beginners, you should use a demo account to test your skills, or learn more with quotex don’t try to go straight to a real account if you don’t want to lose. The steps that must be taken or the correct way of trading forex are:

1. Choose a forex broker that already has a permit from the government. Because brokers who already have a license are usually under government supervision, so you don’t have to worry if this broker doesn’t pay you later. Because there are so many cases where brokers provide convenience when depositing but make it difficult when withdrawing funds.

2. The demo account is useful for those of you who want to apply your analysis, if the results of the analysis you do are wrong, then you don’t experience financial losses, and if you succeed in making decisions, then profits on the demo account can’t be taken either. Because the purpose of the demo account is as a learning medium for new traders so that they know how to learn forex for beginners, get to know the features available on the platform, and learn the functions of indicators to make it easier to analyze market prices.

3. Learning analytical techniques properly is the core of the forex playing strategy and out there you will find lots of forex tutorials for beginners. One of them is knowing how to do the analysis correctly. There are 2 types of market analysis techniques in forex, the first is technical analysis. The trick is to use existing charts, look at chart forms, moving average lines, price history in the last few months or the last few years, and also take advantage of the indicators available on the trading platform, it could be MT4 or MT5 because traders rarely trade the web version. you must know how to play MetaTrader.

Second, namely fundamental analysis techniques. This technique is considered easier because the price will be greatly influenced by certain economic news. Therefore, usually, professional traders also hold on to economic news. Because every economic news is released, the price fluctuations will be insane.

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