6 SIMPLE STEPS TO FOREIGN CURRENCY FOREX EXCHANGE TRADING
6 SIMPLE STEPS TO FOREIGN EXCHANGE CURRENCY TRADING (Introduction)
Forex stands for Foreign Exchange in case you didn’t already know.
The foreign exchange market is a global decentralized ‘or’ over-the-counter market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.
Before I continue you can book a free FOREX EXCHANGE Workshop session at a Town near you.
Simply go here if you live in the UK only (sorry to others) and you can enter your’e postcode to find a free workshop go to http://www.learntotrade.co.uk and book yourself in NO COST. I am sure that there are other companies like in the U.S, Canada, Australia and other places if you do a search.
ALSO CHECK OUT:
http://www.babypips.com/school These guys will teach you FOREX EXCHANGE from the ground floor upwards. Start at the basics is my advice and then move to the next phase. Now, if you already have ssome experiences with using pips and trading with a dummy account then carry on here as you are in the right place.
Forex is the world’s most traded market, with an average turnover in excess of US$4 trillion per day. Compare this to the New York Stock Exchange, which has a daily turnover of around US $50 billion and it’s easy to see how the foreign exchange market is the biggest financial market in the world.
There is also spread betting. What is spread betting?
Spread betting is a derivatives product that allows you to trade on the price movements of thousands of financial markets including indices, shares, currencies, commodities and more.
You can use spread bets to speculate on price movements irrespective of whether the markets are rising or falling. If you go long (buy), your profits will rise in line with any increase in that price. If you go short (sell), your profits will rise in line with any fall. Similarly, if you go long on the price and the underlying stock price falls, you will incur losses.
Don’t worry too much just yet, it is more important to familiarise yourself with this post firstly so as to not get overwhelmed with trying to understand everything which is involved with Forex. As you read through you will get a much clearer, simpler idea of how FOREIGN CURRENCY FOREX EXCHANGE works and what is out there for you.
So now, my steps to creating Forex success.
6 SIMPLE STEPS TO FOREIGN CURRENCY FOREX EXCHANGE TRADING Are:
1) FIND A PROVEN REPUTABLE SOLID FOREIGN CURRENCY FOREX EXCHANGE COMPANY PLATFORM WITH A PROVEN HISTORY OF TRADING AND EXPLORE WITH THEM HOW IT WORKS. DON’T JUST JUMP IN AND START.
2) DO YOUR RESEARCH WITH THIS COMPANY FURTHER AND START TO GET FAMILIAR WITH THEIR TRAINING SYSTEM/PLATFORM AND ASK PLENTY OF QUESTIONS.
3) NEVER START TRADING RIGHT AWAY – INSTEAD BEGIN A DUMMY ACCOUNT TO GET A FEEL FOR TRADING AND HIRE AN EXPERT OR MENTOR WHO HAS BEEN THERE TO HELP YOU WITH THIS OR SOMEONE WHO HAS ALREADY SEEN SOME SUCCESS WITH THE PROCESS.
4) ONCE YOU ARE CONFIDENT AND COMPETENT WITH A DUMMY ACCOUNT AND YOU HAVE THOROUGHLY MASTERED THE TOOLS AVAILABLE TO YOU, START A LIVE ACCOUNT WITH A BUDGET – BUT ALSO BE PREPARED FOR LOSSES AS IT CAN BE COMMON.
5) KNOW YOUR LIMIT. BEFORE LOSING MORE MONEY – ASK FOR HELP WITH THE COMPANY GET PROFESSIONAL PARTNER TO HELP WHERE YOU CAN AND DON’T FALL INTO THE TRAP OF PLAYING AT FOREX WITHOUT DUE TRAINING.
6) START WITH A SPECIFIC AMOUNT OF CAPITAL YOU ARE PREPARED TO LOSE. BUT DON’T RISK YOUR HOME OR FAMILY ALSO, EXPECT UP’S AND DOWN’S AND MASTER THE MARKETS AND LEARN TO REINVEST YOUR BUDGET. TIP: If you want to day trade forex, then opening an account with at least $2000 is preferable but not compulsary. $5000 only if you have this available and won’t create debt for you. With a $3000 account, and risking no more than 1% of your account on each trade ($30 or less), you can make $60+ per day. This is an example of what can be achieved, but it also depends on the type of account you open also, as different account types offer a variety of services and generally require different starting sums. But for the most part, you can open an account with a small deposit. For example, you need a minimum deposit of $200 (or a similar size in other currencies).
OK so what company/ies do I recommend and why?
I have been researching many very good Forex trading Platforms for Many Years and There Are Many Great Systems but also many not so good systems, so I have found around 5 that I can recommend and these also have with great training platforms, but As A Complete Newbie I Would Highly Suggest Starting With Dummy account and getting familiar with a System.
6 SIMPLE STEPS TO FOREIGN EXCHANGE CURRENCY TRADING (Introduction)
TOOLS TO YOU HELP YOU RIGHT NOW:
TOP FOREX BROKERS ARE LISTED HERE UPDATED FOR 2020 COURTESY OF INVESTOPEDIA
TOP TIPS FOR FOREX TRADING BEGINNERS BY FOREX.COM
PLEASE NOTE: To start with I am not that techy and I am not an expert in Forex but I have used various trading platforms and familiarised myself with the working process. I personally needed a system that I could plug into and understand very quickly. I didn’t think that this was possible really – so I set about doing some serious research and eventually found some very good companies whom I could trade with and test my ability.
On this page you have the most up-to date information on the markets and most importantly this can help you get into profit fastest.
Using the tools available you CAN DECIDE WHICH IS THE BEST WAY FORWARD FOR YOU.
I first subscribes to newsletters and lists to see how various companies helped me and so, after months of deep research and deliberation I took many courses and dabbled into dummy accounts and then live accounts. Subsequently, I wanted to ensure that I only shared here reliable, experienced and user friendly systems with long track records.
I now know Forex trading processes and personally have been able to see some successes, but I had to learn the hard way many years ago when there was little help, so like most people who try and fail – I lost some money and made some, and it took me a while to get the hang of it.
You can rest assured that My blog is committed to helping you so that you don’t have to waste time or money trying various things and my goal is always to provide you with the highest quality options.
If I cannot confidently use a tool, system or service then I will say so , as we are all different in ability, and that should act as great news for you as you can save your sanity and cut out many years of frustration and loss of money by ONLY using tools you choose. All I can do is guide you as a coach to the areas that help me, make me money and and foreign exchange trading can be a really powerful way to create an extra revenue stream.
So, the first thing I would like you to do is check out this below and start clicking on some of the options to begin learning more………
What I want you to do is to look at the values of the various companies listed there. You can see these include shares, commodoties and FOREX EXCHANGE and I want you to click around between them to see what the current values are for each of them.
6 SIMPLE STEPS TO FOREIGN CURRENCY FOREX EXCHANGE TRADING
This basic chart below shows you that you can trade companies and assets relating to them and if you wish to trade with them you simply click on the trade button on the right of each company. This indication gives you some ideas as to what things are worth live as well as Forex. Don’t worry too much about that yet, but I found it a very useful tool from +500 when I was doing my research so that I could see what other options were out there for me to trade with.
Next look at this financial chart to get an idea of the top 100 most highly capitalised companies on the London Stock Exchange here…
If you click on the ‘view full details’ you will get of course a more detailed description of the graph showing the rise and fall of these companies over time. Again don’t worry too much just yet about what all this means, instead get a feel for things and play around with clicking on some of the options to familiarise yourself with the way it works.
NEXT CLICK HERE TO LEARN WHAT CFD’S ARE IN FOREX EXCHANGE
As you can see, FOREIGN CURRENCY FOREX EXCHANGE systems give you a breakdown of every area of trading so that you are familiar with where to start before you throw money and end up losing it. NEVER do this. Always start a dummy account and start to trade virtually FIRST. As I mentioned before this takes time so out in an hour or so per day until you feel competent with trading.
As with anything new, FOREIGN CURRENCY FOREX EXCHANGE trading takes a little while to master, but you can expect to make a very good income from mastering this so, my advice is to not just look at millions of make money online offers, instead focus on one area and master it and once you are the master you can then start to look at building a second income. I believe in multiple streams of income and this is because, if one thing disappears then you have others.
It is very possible to make an extra £1000-£10k per month with Forex and much more once you have a year or so under your belt, but you can also easily lose that kind of money, so please apply serious training to it. The first goal might be in looking at a second income and eventually replacing your current income as a goal. So, become familiar with your income goal and get that clear.
NOTE: So, losses can be expected, and there is still great risk involved. This comes down to you doing your due research and in consulting a financial expert to help guide you though anything you are uncertain about.
6 SIMPLE STEPS TO FOREIGN CURRENCY FOREX EXCHANGE TRADING
So, always do your own research and look at the top 10-20 FOREX EXCHANGE companies, I have also done just that and shared relevant links, so you don’t have to but, it does no harm in doing some deep Google searches yourself and watching a few YouTube videos to get more familiar with how it all works. HERE ARE 9 SOLID TIPS RIGHT NOW.
6 SIMPLE STEPS TO FOREIGN EXCHANGE CURRENCY TRADING (Introduction)
Always remember that success in anything requires consistent, focused, specific and strategic action and this may be applied to any venture or business. You always have to move daily in order to start seeing results. Exercise your due diligence with learning – and have patience with the process of the FOREIGN CURRENCY FOREX EXCHANGE business model as it will pay off with that consistency, but also be prepared to walk away if you have lost money and do not have any more. It can be tempting to borrow from another source but this could spell serious disaster.
IMPORTANT: I will never ever personally combine personal funds with business funds.
My suggestion is to take any courses wherever you can to help you.
6 SIMPLE STEPS TO FOREIGN EXCHANGE CURRENCY TRADING (Introduction)
IMPORTANT REMINDER: Trading FOREIGN CURRENCY FOREX EXCHANGE on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Take the free course to become more aware of this and before you take any risks:
6 SIMPLE STEPS TO FOREIGN CURRENCY FOREX EXCHANGE TRADING SUCCESS
There are various ways to trade and not just with Forex but with and here is an explanation of each type of trading you can do:
HERE ARE THE TYPES OF TRADING ‘STRATEGIES’
HERE ARE DIFFERENT TYPES OF TRADING ONLINE
HERE ARE DIFFERENT TYPES OF STOCK TRADES
21 OF THE MOST POPULAR TRADING STRATEGIES
By the way – if trading of any kind just isn’t your thing then that’s cool also. It can be quite a high risk activity, but I teach my clients how to create micro businesses from home or locally in their city and grow these businesses from scratch. If you would rather become a local shop owner, blogger, author, coach or freelancer, consultant or even a course creator, then I can show you what I have done and how you too can start creating $10k+ per month lifestyle.
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