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What Are The First Steps To Start Trading In FOREX?

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This article is aimed at those who have decided to change their lifestyle, both personal and professional, since operating in the FOREX make money (forex สร้างรายได้, which is the term in Thai) currency market completely changes your life, makes you a professional prepared psychologically to analyze many factors of both technical and fundamental character that can influence the world financial market of currencies.

This article is a guide and introduction to the science of the financial market, FOREX and therefore let’s start with the first steps we must take to prepare to begin operating as a beginner trader:

To achieve this great goal, we must have:

  • The necessary knowledge about the financial markets we want to operate
  • A trading system that helps us make buying or selling decisions
  • A broker to operate in the FOREX market
  • A trading account with a broker

In addition, you must go through 5 fundamental steps for your start in FOREX operations:

Step 1. – Look For Information On What Trading Is

The advantage of trading is that you benefit whether the price goes up or down.

Step 2. – Find Out How You Can Open And Close Trading Operations

The operations are carried out through a platform.

Step 3. – Find Out How To Get The Trading Platform

The platform is provided by the broker for free. In addition, most brokers allow you to operate through a web platform, that is, without having to download any program.

Step 4. – Find Out What A Broker Is

The broker is the company that acts as an intermediary between you and the market. It is mandatory to operate through a broker, where you will have your account, which you must capitalize on the money you want to invest.

Step 5. – How Much Money Can I Use To Trade?

The issue of minimum capital is very relative, because in markets such as CFD or FOREX, you can open real, commercial accounts up to a certain amount (depending on the broker).