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How to start trading

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Forex trading is the process of buying and selling currencies on the foreign exchange market. The aim of forex trading is to make a profit by exchanging one currency for another.

The foreign exchange market is a global, decentralized market where the world's currencies trade. The main players in the forex market are large commercial banks, central banks, governments, hedge funds, and investment management firms.

The foreign exchange market is open 24 hours a day, five days a week. Currencies are traded on major exchanges around the world including London, New York, Tokyo, Frankfurt, Zurich, and Hong Kong.

In order to start online forex trading, you will need to open an account with a broker that offers forex trading services. You can do this online or by phone. Once you have opened an account, you will need to deposit money into it which you can do through a bank transfer or credit card.

Once your account is funded, you will be able to start buying and selling currencies. Most brokers offer online platforms which allow you to trade directly from your computer or mobile device.

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  • 3 weeks later...

 

When it comes to starting a forex trading journey, there are a few things that you need to keep in mind.

First and foremost, you need to make sure that you have a clear understanding of what trading is and how it works. This means doing your research and learning as much as you can about the subject.

Once you have a good understanding of the basics, you can then start to look into more specific areas such as risk management and technical analysis.

Another important thing to consider when starting out is what kind of time frame you want to trade on. Are you looking to day trade or swing trade? Each one has its own unique set of risks and rewards, so it's important to choose the one that best suits your needs.

Finally, it's also important to have realistic expectations when starting out in trading. Don't expect to become a millionaire overnight - success takes time, patience and hard work. Remember that losses are part of the game, so don't let them discourage you.

If you keep these things in mind, then you'll be well on your way to a successful trading career.

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Initially, you need much time to understand price action trading. But don’t be so panicked. Some traders believe price action trading turns a trader rich quickly but I don’t appreciate such belief. Many short-term traders rely exclusively on price action and the formations and trends extrapolated from it to make trading decisions. FXOpulence allows traders with a minimum investment of $100 and they charge narrow trading spread to traders.

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First you need to study the theory and then test it in practice. To do this, it is better to first open a demo account. There you will see how some trading strategy works and what needs to be improved in it to make it profitable. It is also important to choose a broker with comfortable trading conditions and low spreads. The withdrawal of profits should be quick. This broker for me is fxopen. It is comfortable for traders with experience to trade here.

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