make money online with Forex Trading / beginners guide/

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How do I Start Forex?

What should I have in mind to start forex trading?. Here I will give a summery.
For those who wants to start forex or have some ideas about Fx. Please have this in mind before you try anything. Basically as a currency trader you should know that for you to trade forex,
1. you should identify a genuine broker.
2. You should download trading software and understand how to use it.
3. You should understand technical indicators commonly used in Fx all this come with software.
4. You should also understand that upcoming events i.e News, usually have an effect on currencies, hence trading during instances of international news release can have negative or positive impact on currencies, know what to do during such instances.

Eager to start trading FX?

1. Understand what is Forex, Nowadays it is easy to get material online so just google. I recommend BabyPips.com. Visit other websites also or buy Fx E-books
2. Requirements for you to start forex. For you to trade forex, you need a broker. Identify a genuine broker because some are scammers. I recommend XM because I usually trade with xm as my broker. Read more about XM. Click here 

3. Try demo account. As a Fx starter, it is always advisable to open demo accounts. You will get chance to trade virtual money. Here you will learn a lot because there is nothing to lose and you will be provided enough virtual money i.e $10000. 
Open A Demo Account
4. Understand how to trade with the trading software i.e MT4 or MT5. Meta trader 4 and Meta trader 5 are commonly used. Start with meta trader 4 because it not complex to understand even though they look alike. Understand its features, how to set them in the platform and how to interpret them. MT4 Platforms MetaTrader 5 (MT5) Trading Platform

5. Open real account. Here you trade real money. For you to have verified real account. You will need to submit identity document; national ID and Utility bill for example that for KPLC or bank statement. You simply upload them and wait for them to verify after sometimes. Also you will need to fund your account after verification. Other brokers offer No deposit bonus, this means after being verified your account will be accredited with certain amount of bonus. Xm for example will give you $30 No deposit bonus. But for forex this is very little you will need to add.

 Open a Real Forex Trading Account

Ready to trade Forex?

I am assuming you are good to go, you have all the ideas stated.
Let assume you have chosen XM as your broker.

STEPS


1. Open an account demo or real. Remember to select you want bonus option when you are opening real A/c



They will send confirmation link to your email, so log in to email and click "confirmation" it will direct you there members area.

2. Upload identity document and proof of resident ( ID, Bank statement or utility bill)

3. Download MT4 at the bottom or you can download from the link provided here


MT4 Platforms


4. As you wait for them to verify, because it will take hours, max 24 hrs. Install the MT4 software you have downloaded.

5. Familiarize with it. Understand where candle sticks are, change there properties i.e for bullish candle sticks make it green and bearish candles make it red etc..
Locate where to set trading period i.e 5 min, 30 min, 1 hr, 4 hr, day etc
learn to place trade i.e changing volume, placing stop losses etc
also you will need to set and interpret technical indicators,

6. Open it and log in with demo account and do all this before trading real money.



All the best in Trading

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