Taking the first step towards the Forex market , every novice should know that the commencement of trading must first of all be necessary after he chooses a suitable strategy for himself.
Only after the novice trader chooses (or creates himself) a strategy for himself, remembers all of its rules, starts to execute them clearly and tests the strategy for trading on Forex in a demo account - can only replenish the account for a small amount and start trading on a real account .
On a demo account, a beginner trader should first learn correctly, press all buttons, do not confuse BUY and SELL, learn to navigate the terminal quickly. Otherwise, the N-th amount of money will be lost due to the fact that the wrong function was selected by mistake and the button is not pressed the wrong way.
It is not necessary to get involved in a demo account, why? Because the feeling of fear is lost. It is best to still put a very small amount and learn from real money.
Why start with a small amount? Because even if you lose it, you will not worry much, and once you lose a large amount, you can lose the hunt for trading for a long time and get a psychological breakdown.
The most important thing in trading on Forex and in general trading on stock exchanges is to adhere to a trading strategy, it also includes money management.
The next important step, and perhaps the most important, after choosing a strategy will be the choice of an honest broker.
Why is the Broker's choice so important?
Because a dishonest broker is a big problem, especially for beginners.
Because how would you not know how to trade, no matter how profitable your strategy was, if the broker is not fair - the trader will always receive a minus, the so-called moose (in trader's slang).
A dishonest broker will always have an excuse for any of your claims, a trader will always look like a fool, and the broker will always be right. The so-called cuisine will always speak and refer to the contract, that in the contract everything is spelled out.
At a dishonest broker your deal will always not reach the profit of 1 point and vice versa the stop loss will always work even if there was even more to it. You may not be credited if the transaction lasted less, for some time, for example, if you opened and closed the deal in less than two minutes.
At the most important moment for you, the broker may hang up the server, your broker will respond to your claim that there were no technical problems on their part, will check the quality of your Internet connection.
An honest broker also has technical problems, but very rarely. An honest broker will review your claim and it is likely that a decision will be made in your favor.
An honest broker executes your transactions instantly, no time limits, no restrictions on scalping and automatic trading.
I would like to draw your attention to one normal broker, one of the First Risk-free Brokers, regulated by the FSC (Financial Services Commission)