For Novice Traders

A moment of your time please.

Before conducting his first transaction on the real FOREX market, novice traders should spend some time familiarizing themselves with this business, learning and also psychologically preparing for participation in real trading.

This initial stage can be divided into five steps:

  1. Theoretical preparation and learning. 
  2. Choosing and acquiring the charting and analytical software, and sources of current market information (data vendors). 
  3. Developing practical skills and using acquired theoretical knowledge; developing trading techniques and skills as well as trading strategies and systems, on the virtual trading account under real market conditions. 
  4. Choosing the dealer or the broker company. There are many available online such as OANDA or eToro.
  5. Defining the size of the investment capital and opening a trading account. 

You should understand that the learning process could be more effective and mutually enjoyable if you accept some of my preliminary advice and recommendations. These tips are related to the preliminary self-training that you have to conduct so you can better absorb the learning material.

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