Jump to content


Next High Impact Market News Event:
Retrieving events...

Toggle shoutbox The Traders Chat Open the Shoutbox in a popup

If someone starts flaming you PM me with a screenshot of the incident and I will ban them if its legit. Do not flame them back, it makes our work as admins harder figuring out who started it. So if you flame them back, you may get banned too.
@  traderpusa : (13 November 2018 - 07:06 PM) Good morning
@  Storm : (13 November 2018 - 03:19 PM) ayrex may be a good option
@  fasih : (13 November 2018 - 01:35 PM) lol yes but i wont tell :D
@  dth : (13 November 2018 - 01:34 PM) Do you remember his name
@  dth : (13 November 2018 - 01:34 PM) lol
@  fasih : (13 November 2018 - 01:23 PM) guy*
@  fasih : (13 November 2018 - 01:23 PM) :D
@  fasih : (13 November 2018 - 01:23 PM) dth i remember some buy used to troll u that u only show winning trades but not enough explanation of trades..
@  dth : (13 November 2018 - 01:22 PM) but there's nothing left and now even EU putting a pan on bins?
@  dth : (13 November 2018 - 01:21 PM) I miss it
@  dth : (13 November 2018 - 01:21 PM) yeah I just want to trade bins for fun
@  fasih : (13 November 2018 - 01:20 PM) the last broker i used was dmmoption, they paid on time but they went out of business very soon lol
@  fasih : (13 November 2018 - 01:20 PM) thats why i left bins too..
@  dth : (13 November 2018 - 01:19 PM) I would like to trade bins.. actually I want to really bad but I'm not able to find a broker
@  fasih : (13 November 2018 - 01:18 PM) lol dth ..
@  dth : (13 November 2018 - 01:14 PM) Do people still trade bins?
@  Momentum : (13 November 2018 - 01:22 AM) Good morning everyone
@  traderpusa : (12 November 2018 - 07:51 PM) good morning
@  Tripack : (12 November 2018 - 05:05 PM) Wazaa ?
@  Tripack : (12 November 2018 - 05:04 PM) Hey hj !

Photo
- - - - -

Trading Forex for a Living - What You Must Practice

Forex

  • Please log in to reply
No replies to this topic

#1 bintadam007

bintadam007

    Newbie

  • Members
  • Pip
  • 1 posts

Posted 29 March 2016 - 12:01 PM

Currency (foreign exchange) trading is one of the most lucrative ways of making money online. It involves buying and selling of commodities/currencies based on tiny variations (or gaining and losing) of the same to make profits. The commodities or currencies are traded in pairs from which he/she relies on economic data forecasts, and trends to make trades.

Trading Forex for a Living - What You Must Practice

While currency trading is a straightforward investment, a proper understanding of the market and how to carry trades is needed to make profits. This is the reason currency trading brokers encourage newbies and anyone willing to start trading to open demo accounts and learn currency trading through practice before engaging in a live account.  Discussed below are a few methods and ways in which you can use while learning to trade online.

 

3 Important Steps to Learn Currency Trading

 1.           Use Hiwayfx practice accounts: Almost every currency broker allows both new and existing traders to open and use practice accounts also known as demo accounts. The demo account helps traders learn currency trading, new tricks and familiarize themselves with the actual trading platform. The best thing about using practice accounts is that you can run trades, make orders, or even learn how to stop loss without risking your money.

 

You can use the Hiwayfx practice account to learn new tricks on how to make more money trading online, and determine what currencies to major on while trading.  Most people do not go past using practice accounts when training to become professional traders online.

 

2.            Signup with hiwayfx : This is considerably the best way to learn how to learn currency trading online.  These colleges employ trading experts to help mentor and train newbies into becoming qualified traders. Through these tutors, you get to learn most of the principles you would not be able to learn on your own such as leveraging returns, stop loss, interpreting financial graphs, and how to carry trades successfully. These academies also use live data and trading accounts to demonstrate how to make trades and many other principles related to the same.

 

Many of the successful trading experts have been through the hands of online trading academies. Although signing up with a training academy involves digging deeper into your pockets, this may be the only way to prevent massive losses as a trader.

 3.           Look for a mentor: This is especially recommended for traders who taught themselves how to trade. It is through a mentor that you can learn currency trading fundamentals and tricks on how to make good money online. It would however be advisable to look for a trustworthy mentor and someone with experience in the same. You can find a mentor online on currency trading forums and blogs. Forums also pose a great avenue for anyone to learn new tricks on how to execute trades to increase profits and reduce risks. Signing up with these forums is recommended as well. The first step to becoming a successful currency trader is by identifying platforms you are comfortable with while trading. It would however be advisable to try every available trading platform/software before choosing the best one is recommended. Some of the available trading platforms include meta traders, browser based trading platforms, and mobile platforms. It would also be advisable to choose the best currency trading broker to be successful as a trader .







Also tagged with one or more of these keywords: Forex

0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users


USA REGULATION NOTICE: There are many binary options companies which are not regulated within the United States. Most of these offshore companies are not supervised, connected or affiliated with any of the regulatory agencies such as the Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), Securities and Exchange Commission (SEC) or the Financial Industry Regulatory Authority (FINRA).

It is our STRONG opinion that you do not operate with any unregulated brokerage firm as they may steal or try to scam you out of every dime you have. Please take notice that any unregulated trading activity by U.S. Citizens should be considered unlawful.

Risk Disclosure: Binary Options Edge does not accept any liability for loss or damage as a result of reliance on the information contained within this website; this includes education material, price quotes and charts, and analysis. Please be aware of the risks associated with trading the financial markets; never invest more money than you can risk losing. The risks involved in trading binary options are high and may not be suitable for all investors. Binary Options Edge doesn't retain responsibility for any trading losses you might face as a result of using the data hosted on this site. The data and quotes contained in this website are not provided by exchanges but rather by market makers. So prices may be different from exchange prices and may not be accurate to real time trading prices. They are supplied as a guide to trading rather than for trading purposes.