7 SIMPLE STEPS TO BECOME A FOREX TRADER

Everyone has the potential to become a forex trader thanks to the availability of trading platforms, advanced computer systems, countless educational resources and ultra-fast streaming technology. However, even though forex trading is available to all at the click of a button, only those with the right skills and knowledge have what it takes to make consistent profits from their trades. Factors such as discipline, control and positive trading habits will all contribute towards your success as a trader, and without them you may soon end up wiping out your trading account or giving up long before you develop the right habits.

How to become a trader

1. Find a reputable forex broker

The first step in becoming a day trader is to find a reputable forex broker  who offers competitive trading conditions, powerful trading platform technology and excellent client support. It’s also important that your selected broker offers reliable account features including low spreads, fast execution and negative balance protection.

2. Understand trading capital

Forex traders do not require a lot of capital to begin trading as they can trade on margin. This refers to the amount of money required in your trading account in order to open a position. For instance, if you want to open a $300,000 position, $3,000 of funds on deposit is required for a 1% margin. Some forex brokers may require as low as $50 to open an account and begin trading. Bear in mind, the greater the deposit the lower the impact on your trading account in the event of losses.

3. Demo trade first

If you wish to become a trader and achieve regular success from your trades, it is always advised to demo trade first. This gives you the opportunity to develop your trading strategy, practice it relentlessly, and increase your trading confidence. This is also the ideal time to familiarise yourself with the trading platform and locate everything with ease.

Demo trading also allows you to experience what it’s like to lose money from trading and gain a better idea of how you might react when it comes to trading live. You will learn how it feels to experience losses and will have the opportunity to put your risk management strategy into action.

The demo trading period should not be rushed. Traders should trade on a demo account for a significant time and make sure they get steady profit. As tempting as it is to begin live trading right away, taking the time to practice on a demo can really pays off.

4. Educate yourself

In order to effectively trade on the foreign exchange market, it is essential that you have a solid forex trading education. You need to educate yourself as much as possible about the market and understand that your education never stops beyond the demo trading period.

One highly effective way to reduce the probability of regular losses is to follow a trading mentor or trainer. By gaining the knowledge and guidance of a professional trader you will master how to become an FX trader who adopts the correct trading mindset and skillset.

You should also take advantage of the many tools and resources offered by your forex brokers such as articles, video tutorials, online webinars, and more. There are lot of forex brokers that has a comprehensive forex education centre full of useful articles and guides on how to trade the markets. Make full use of the trading and technical support in place in order to improve your strategy and minimise mistakes.

5. Start small

If you want to become a day trader you need to start small and work your way up. After practising for several months on a demo trading account, take the strategy you feel most confident with and some money you can afford to lose. Begin with a OctaFX MT4 account, know your risk limitations and resist the urge to trade on emotions such as fear, greed, or hope. Apply leverage with caution and be aware of the risks that come with overleveraging. Forex broker like Octafx is to suit your level and style of trading. You can choose from a OctaFX MT4 account type if you are new to trading up to a OctaFX MT5 account if you are a more experienced trader. For those looking for ECN trading conditions, you can open an OctaFX cTrader account.

6. Always trade forex with discipline

Discipline is a crucial part of online forex trading. To become a day trader who makes consistent profits, you need to implement stop loss and take profit orders to protect against unanticipated market reversals and minimise risk. These should be predefined before any trade is placed and should only be placed once you have carried out in-depth market analysis.

You should also follow your trading plan meticulously and maintain a trading journal to record your trade data. This summarises all of your trades and provides a historical perspective.

A trading journal is an excellent reference as it shows you how well your trading strategy performs in different market conditions. By following a trading journal, you will develop a greater level of confidence and will learn to trade with discipline. Remember, it is very difficult to make profits from every single trade that you execute, so don’t be afraid when losses do occur. Don’t try to control the market; instead, take control by following a plan and a strategy as well as recording your trades in a journal.

7. Trade currency pairs that suit your trading style

As the biggest and most liquid financial market in the world, the forex market offers superb opportunities to traders. That being said, it’s vital that you know your selected currency pairs inside-out and feel completely comfortable and confident when trading them. While one individual might find a specific currency pair straightforward to trade, another might find that same pair very stressful, so test out different currency pairs on a demo account first to find what suits your trading style.

Use an economic calendar to stay afloat of the latest economic events and forex news announcements. If you prefer to perform technical analysis, ensure you are comfortable with your selected technical indicators so that you can successfully identify patterns and predict future price movements

Are you ready to become a day trader?

If you want to learn how to become a day trader, you should implement the above measures for a better chance of making a profit from your trades. While online forex trading enables traders to make solid returns on investment, it should only be carried out if you possess thorough market knowledge, education and experience. You also need to be confident on the trading platform as you navigate your way through each of your trades, coping well under pressure and avoiding trading on emotion.

WE  GIVES YOU THE EDGE

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Scholarship Opportunity to Study in Turkey

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Helping Hands international in partnership with Suffa Foundation presents free education to study abroad.

The partnership will revitalize communities across Africa by giving not less than 5000 scholarships to public high school graduates, secondary school students , primary school pupils,postgraduate students, Master degree students and PhD students. The partnership will also make available support and services like: free flight tickets, visa, accommodation, monthly upkeep from 200$ to 400$, also drill boreholes for free water supplies to poor communities in Africa.

This partnership will contribute to the UN’s Sustainable Development Goal to ensure inclusive and quality education for all and promote lifelong learning.

Special thanks to AFA chairman Mr Sems Turkan and Ambassador Obitex Emmanuel 

HOW TO APPLY

It’s Very simple,, your membership with Helping Hands International is ticket to apply or to recommend people for this opportunity. REGISTER HERE

For more information Click HERE to

do your questions on WhatsApp

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People will forget what you said,People will forget what you did,BUT People will NEVER forget how you made them feel…-Maya Angelia.

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Helping Hands: Solution to Global Financial Crisis

 

HELPING HANDS INTERNATIONAL(H2i) is international charity and empowerment NGO created with the vision to eradicate the poverty in the world.IMG-20160321-WA0005

HELPING HANDS INTERNATIONAL (H2i) is a non governmental organization, with the vision of touching lives and empowering people starting with it’s members to non members (less privileged people)

Helping Hands is founded by Mrs Luzviminda Mac-Elvis, a dynamic lady from the Philippines with the passion to make life easier for the common man.

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As a partner in Helping Hands, you have the opportunity to receive scholarship award up to $2,000 for 2 of your children.( In stage 5)

By becoming a partner with Helping Hands with just a one time joining fee of $60(#9,900), you would have the chance to benefit from the 5 empowerment services mentioned above.

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How Smart People Making Money Online

For Enquiries Call

CLICK HERE in

Telephone: +2348070950715;08088152785

Whatsapp: +2348034662007

Welcome to Kas Megatop Company, the official partner of Premium Success Pace Ltd (PSP)

I will train you how to Own Your Own International Business and become your own boss instead of working for someone else, let us help you to achieve your dream of bringing in more income.
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SOME OF MY EARNINGS IN DOLLARS

 

 

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Like I said, the screenshots above are evidences of the multiple streams of income I’ve been able to create from the Internet with the use of my computer.

I am not showing you all these income proofs to boast or intimidate you. No! That is not why we are here. Why we are here is to tell you how I make this money despite the harsh economy of this country and how you too can achieve similar or even greater results.

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You need to believe in yourself and you also need to let go of the mentality that ONLINE BUSINESS IS A SCAM OR IT DOES NOT WORK

If it doesn’t work, then how did I make all these money ? Did the money fall from the trees? You should know by now there is something you are not doing right.

My Formula Work Till this day !!!

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These days, it seems like every “guru” is trying to sell you an “overnight income generator” or “hot” traffic technique or some new trick to outsmart Google. They say you will instantaneously transform into an online marketing millionaire.

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I don’t make money online on demand…., I make money consistently all day, every day, every month, including weekends and public holidays. Whether I need money or not, whether I demand for it or not, it would surely come to me.

You’ll find out about that in a minute

You may be wondering why I’m willing to reveal these secrets. Well, firstly it won’t affect my online income whatsoever and secondly it gives me the opportunity to earn some extra cash by revealing the secrets to others who are desperate to earn a regular full-time income online.

Open Secret #1 Here

And on top of that, I’m fully in support.

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