What is my first step?
Of course first step will be understanding the basic of the forex like what is pip? How to calculate pip? Where to get the demo account and many more. Once you have the basics idea, you are ready to proceed to actual forex trading world.
What is the actual learning guide in the actual forex trading world?
In this section, I will simplified the guide into 6 processes:
1) Find on strategy that you like the most and stick with it until you master the strategy. Master in the sense of monitoring the chart, calculating the pips in long and short trade. You need to have at least 100% of accuracy where each time you open a trade with win in the closing trade. If you think 100% is not possible, then at least you need to have 90% of winning trade.
2) The way that you manage your account. I’ve touch on this topic in my early article where my rule is 10% of the total capital are allow for trading. For more details, please refer to “Money Management in Forex”
3) The way you perform the trading also one of the factor that you hit you on day to day basis. Always practice one or two trade per day, regardless win or loss. Once you have confirmed the trade, close your trading platform and proceed to do you usual stuff. Believe me, you will win if you have this mindset.
4) Using Demo to play practice first before you move to actual market. I’ve touch this as well, please refer to my earlier article call “Trade with Demo Account”.
5) Accumulate the lesson learn, find out what is the problem and make sure you have the solution on it before you move to live account. If you don’t have the solution, do not enter the live market till you have one solution.
6) Congratulations, you can now move to live account now.