FOREX TIPS AND STRATEGIES FOR BEGINNERS

many people are interested in trading and learning how to trade online. Follow the following 4 easy tips that you can do first to start forex trading.


1. Find the right broker / broker
Make sure the broker you choose has obtained an operating license from the Indonesian government supervisory body, namely BAPPEBTI so that your funds are safe and avoid corporate misappropriation. Authorized brokers will provide realistic leverage facilities and other facilities that can support your transaction later.


2. Maximize the minimum capital first
After finding the right brokerage company, you are advised to start with small capital and low leverage. For example brokers offer 1: 100 leverage. For example, from the standard trading of USD as much as $ 100,000, you are only required to deposit $ 1,000. That means you can trade at least 1 standard lot. As a beginner, there is no harm in optimizing the minimum capital. Big leverage, it will attract greater profit opportunities but also has a high risk potential.


3. Focus first on one currency pair
Determine one product you want to trade. Then focus on training your skills through selected products so that later you can recognize trading opportunities faster.

You can choose one of the major currency pair categories such as: EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD because the currency pair is the most liquid and most traded currency. The important thing is that you can make consistent and sustainable profits even from a single currency pair.


4. Get started with a demo account
It's a good idea to try the demo account provided by the broker first. Through your demo account you will not be charged fees or transactions without initial capital. All transactions will use virtual money but follow actual conditions and data. This helps you evaluate trading performance before transacting with a real account. Also read how Demo Accounts Improve Your Trading Ability.


Getting large profits in quick time is not typical in forex trading. The most important thing is how you optimize the initial capital by honing your ability to recognize market fluctuations.