How do you trade in Forex?
1 min readJan 27, 2023
To start trading in forex there are few steps given below:
- Find a ECN STP Broker:- There are 2 types of brokers ECN & Market Maker. The reason behind I told ECN Broker because the money are safe in ECN rather then Market Maker as ECN broker is connected directly to Liquidity Provider(Bank) which assure safety of money whereas Market Maker Broker used o manipulate market by own so that traders loose and broker makes profit.
- Understand the Platform:- There are 2 Platform which is MT4 & MT5.For understanding the platform use Demo account to know how the application works but remember don’t waste time in demo as it is good to understand platform as working purpose but not for learning trading.
- Learning:- Learning doesn’t mean that relying on someone teaching one to one it means that research and develop your knowledge by using google,youtube etc.But remember stick to one thing don’t change simultaneously.
- Pressure : When most of the trader comes to trading when they are new they probably trade by taking pressure in mind.Trading is just like a business sometimes good sometimes bad so while trading do the homework before trade and in case you are not able to understand then don’t take trade.