ANALYZE WITH SPEED:
Now, before we begin breaking down all of the necessary elements to trading forex. The first step is making a decision. I want you to be 100% sure that you can commit at least the next year to learning everything you can about investing in currency. If you are on this video and looking to make a life changing income by tomorrow, exit this video now because that does not exist.
The second step is beginning to familiarize yourself with key terms and verbiage. If you do not understand basic terminology it will be very difficult to actually learn a trading strategy. Go to babypips.com and complete their free education course. This website will give you access to very useful terminology that you will need to know.
The third step is finding yourself a solid broker to invest with. In order to invest and have a potential of making money trading currency, you must first have a broker to put the money into. I highly recommend investing in a broker that is regulated in your country to best protect you from potential harmful financial situations. We will discuss the different between regulated and unregulated in a future video.
The fourth step is downloading metatrader 4 or going to tradingview.com and linking your broker account to the trading platform. This is the platform you will be executing your analysis and trades on.
The fifth step is beginning to define your own trading strategy. I have numerous videos on my channel that I will link in the description below as well as tag on screen now for you to begin with. If you are interested in more advanced training I have a very limited program I can add you to for a small investment. Simply text “FOREX” to 480-877-0061 and schedule a meeting with my assistant.
The sixth step is purchasing at least a laptop to analyze your trades on. Some traders will tell you that using justa phone is possible, however you will quickly find out this is extremely difficult to do.
After defining your trading strategy and getting the proper equipment your seventh step is beginning to test it. You will want to use 1 micro lot as you begin on each position in the early stages. This will get you used to trading via your strategy but also get your mentality around investing real money started so it’s not such a shock later on.
The final step is just refining your trade strategy. It will take you years to fully learn a strategy but never give up, do your best, and never stop learning. It took me years to finally create a strategy that worked for me.