How do I start trading Forex?

How can you start trading Forex? Let me answer your question. Getting into Forex trading is actually quite easy. You need to open up an account with a broker that is regulated in your country. Never sign up with an unregulated broker because this means there is hardly any legal way of getting your money back should there be a dispute.

Brokers have different requirements in terms of funding. You need to be of legal age so in most countries 18 years old. You need to be able to deposit a minimum amount to fund your trading account. The amount is decided by the broker. Brokers usually ask your employment status and income just so they are sure they can get hold of you should you lose more than you have in your account - in Europe this is not a problem as you are protected but it really depends on the country you live and if the broker is regulated or not. In terms of training to get into forex most brokers offer training in how to use the platforms and basic trading training BUT most people unfortunately lose. In Europe the % of accounts losing is visible as it is a legal requirement for brokers to share this number. I personally have seen official statements between 70% and over 85%. These figures should tell you something. Trading Forex is highly speculative and you need proper training. Most training however is unfortunately useless -especially the training that offered by brokers.

How did I start out? Probably like most people. I got sucked in by the trading industry promising quick riches. I was unprepared and did not have a clue that trading is so much more than learning a method, read up on money management and buy a course on trading psychology. I thought trading is where to get in and where to get out, boy was I wrong. I was wandering around from one educator to the next promising to become successful. It took me over 4 years to become profitable, to learn through trial and error what actually works in the markets, how they operate and how they are manipulated. Who the players are and what consequences their actions have on my trading. I must have spent more than 10 000 GBP in courses and training. I realised that pretty much everything I have learnt was useless because it was the same old same old information. I am not sure if you have read books on trading or have seen some youtube videos (which by the way I do not recommend at all) but if you have you will realise that the way / steps you are supposed to enter the market is always the same. Yes there are different analysis methods but the entry process is always the same. And it is this flawed training that you see and read day in and day out that will have the following consequences

It's still a risky job, so I prefer to use fully automatic Forex Trader. Read more about the best Forex Trader in 2019 HERE Leave a comment if you have any questions!

Good luck!