It is always easier with demo account, as you do not have any emotions and stress related to it. Once you are equipped with enough tools provided in education and practice on a demo account, you can proceed to open a real trading account.
Start off small, and keep to a 1 – 2 percent risk of capital per trade.
There are various companies that provide online forex trading education courses. They teach mainly two techniques. Trend or break-out trading and counter trend or counter retail trading.
Both are useful to understand. I would not suggest trading with both techniques simultaneously. Rather test both for a period of time, and decide which one of the two suit your personality.
Further to the above two techniques, you should also learn about the two trading methods, fundamental and technical trading.
The two can, in short, be describe as follow:
– Fundamental trading: Trading based on future predictions based on climate, political and other external conditions. The fundamental trader will also make use of financial reports etc of companies to form an idea of how to proceed with a trade.
– Technical trading: Trading based on current trends in the market, using various indicators. These traders will mainly use the indicators on candlestick chart.
We hope the article will benefit you and that you will choose a forex trading education company that will assist you in your goals. Happy trading.
Note: Currencies, Commodities, Cryptocurrencies and CFD’s traded on margin carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with leveraged financial trading before deciding to trade because you can lose some or all invested capital. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.
Forex Company Comparison:
Please see the various online forex companies reviews below:
Trade Forex, Stocks, Indices and Commodities.
|Demo Account: Yes|
South African Office: Yes
|Min Deposit: $250
Shaw Academy: FREE Financial Trading Course.