If you are an experienced ‘FOREX’ Trader or just a beginner looking for the opportunities offered in the ‘FOREX’ market, Forexgen has created ForexGen Academy to give you the chance to get a ‘FOREX’ education and improve your trading skills .
How to Get StartedPeople are introduced to the exciting world of foreign exchange in many ways: friends, current events, newspapers, television, and many others.
Step 1: Practice makes perfectDemo trade.
The demo account was designed to help traders gain familiarity with the speed and movements of the market. When you are demo trading, you should learn how to:
1) place market orders to enter a trade,
2) place stop-loss orders to protect your positions .
Step 2: Study, Study, Study
Forex traders use fundamental analysis, technical analysis, quantitative analysis and sometimes a combination of all three to make their trading decisions.
Fundamental analysis involves the use of economic, financial and political news to determine trading decisions.
Technical analysis involves the study of Charts to predict future price movements based on past price patterns and trends. Step
3: Manage your money wisely
You should always be aware of the amount of money in your account before placing a trade. If you think a long-term trend is developing, then you should consider whether you have enough funds to maintain your margin and withstand any movements against your position(s) that may occur. We encourage everyone who opens an account with us to ask themselves the following questions prior to entering each trade:
1) How much am I willing to risk?
2) What is my upside and downside potential?
3) What are the market conditions?
(Is the market volatile or calm?)
4) What is the logic behind entering this trade?
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