Make millions trading forex online | Forex Basics for Beginners




Do you Sometimes wonder where other people are getting all their money from and you don't really see them go to work and you wonder how they are doing it. Well sometimes its just the forex market. $5.1 Trillion dollars is traded everyday in the forex market from Monday to Friday which makes it $25.5 Trillion dollars a week. That is by far the largest currency market which you can throw your hand into and grab some profits.

What if Forex trading ? (Foreign Exchange) 
Forex trading is basically the buying and selling of different currences on forex platforms with the goal of getting some profits. What do i mean? Take the USD (United States Dollar) and the GBP (Great British Pound ) for example, take for instance that you have $100 worth of USD and you want to buy $89 worth of GBP. If yoh buy the GBP at $89 and sell it later for $200 it means that the GBP gained value and you earned your profit. As simple as that thats how the Forex market works. So inorder to know when to buy and when to sell there are various ways to predict the market changes before they actually happen and if mastered carefully you will be the next Millionaire wherever you are.

Getting Ready For Forex Trading
1. GETTING AN E-WALLET

So this is the easy part, for you to be able to trade the forex market firstly you need an e-wallet for an effective deposition and withdrawal of funds (Click Here for recommended E-Wallets). There are thousands and thousands of e-Wallet providers around the world but i will save you the headache and narrow them down for you and show you the best. Click to register for SKRILL WALLET which is one of the best for forex trading.

2. FINDING A FOREX BROCKER

On the second part now you need to setup an account with a brocker. A forex brocker is simply an organisation which executes your trades on behalf of you using their money into the real market. After setting up an account, you are required to then verify your account due to the money laundering laws around the world. Don't worry its not hard to verify, all you need is the picture of your National ID, Passport or Driver's Licence containing the name which you registered the account using. Click to register for FXTM Broker.

3. SETTING UP A DEMO ACCOUNT

Almost every reliable brocker has a real account and a demo account. In the real account as the name states is where all the real profits and losses occur. And on the demo is where you practise and it is virtual so you don't risk any real money. I highly suggest you start with the Demo account to practise you forex strategies and skills before you dig around your pockets. So HEREs A LIST OF REPUTABLE BROCKERS I HAVE STUDIED.

4. SETTING UP METATRADER

Don't be afraid of the name, Metatrader is just some sort of trading platform where all the action happens. Some brockers have their own trading platforms but i highly recommend you use this one because of its complex tools and standardisation. If you are interested in it you can download it HERE(MT5) and HERE(MT4).

5. FINAL STEP | MAKING MONEY
After you have read books about forex you have everything setup and you feel you are ready after you have learnt all about forex the final step is to make a deposit and start trading. Now the key to making money in the forex market is patience and having money management skills. Without this discipline, the market will crush you and you'll blow your account. So before going into the real battle of bulls and bears prepare yourself thoroughly for the final battle. To get you started you can download this forex textbook here.

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CONCLUSIONS

Listed above are just the recommended steps to take when getting ready to start forex trading but if you are a complete newbie to forex or just someone trying to increase forex knowledge I highly recommend you start by reading these books listed below.

FREE FOREX BOOKS TO DOWNLOAD
1. Candlestick Trading Bible
2. 10 Keys to Successful Forex Trading
3. FXTM free E-Book



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