ForexSecret123 (23)

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Forex Trading Starter Kit

• Presented byThe Forex Secret

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Introduction
There are lots of people who have the education
on forex and but dont really know how to get
started with forex trading. So, thats going to
be the focus of this article or Trading Starter
Kit
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Basic understanding about Forex

• Understanding of when to buy, when to sell

Like take profit targets, stop loss levels, and
why markets are moving in the first place
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Basic understanding about Forex

• Get yourself good training by a recognized author
  of a good book

You can make your research and analysis of the
reviews on those books. You may also want to take
some online courses.
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Basic understanding about Forex

• Join a Forex community

Here, youll find people who have done it, who
are doing it and are willing to help you along
the way. 
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Develop a Strategy

• Get a strategy

A series of rules of engagement when you should
buy when you should to sell, and how youre
going to manage the trades.
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Develop a Strategy

• Keep It Simple Stupid

For the first time, you need to keep your
strategy very simple. You dont need all the
technical analysis you see out there.
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Develop a Strategy

• Backtest a strategy

You can carry out a backtest on demo accounts to
boost your confidence
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Need a broker

• A broker is a middleman

There are multiple brokers out there looking out
for your business on your behalf
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Need a broker

• Essential things you need to look out for

Avoid Extreme Leverage
Avoid Extreme Commission
Difference Between ASK and BID
Good customer service
Start with Demo
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Start with low leverage

• Should go for no more than 5, 10, to 1 leverage

You can get the experience and the actual feeling
of making a winning trade and a losing trade and
not looking at the money youve made so far
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Have a written plan

• Everything you do has to be around a plan

When you start trading real money, you need to
have a plan written down. Part of that plan is
keeping a journal of all your trades. 
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Have a written plan

• Losing trade is not money wasted

You need to understand why that trading lost. You
need to learn to appreciate your losing trades as
part of the natural trading process.
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Have a written plan

• Losing trade is not money wasted

You need to understand why that trading lost. You
need to learn to appreciate your losing trades as
part of the natural trading process.
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Conclusion
Who still struggle with the challenge of getting
started even after getting some education, go
through these five key points. They will find you
the right path of entering the trading world.