GET A FREE DEMO ACCOUNT & PRACTICE TRADING NOW: One of the most efficient methods for learning to trade is learning market and trading basics. A solid understanding of the basics provides the foundation that will support your entire career. This first level of knowledge is required before more advanced trading information can be successfully implemented.
Books on trading found at your local bookstore or reputable trading websites can provide you with all the trading basics you need at a relatively low cost or no cost. The basics include all of the factual information about trading, such as:
What markets to trade
How prices move (bid and ask prices)
Order Types and how to place them
Risk management
Trading hours
How to monitor trading performance
How much capital is required to trade efficiently
Trading basics are typically factual in nature, and there isn’t much subjectivity. One information source may say to start currency or forex trading with at least $500, while another source may say to start with at least $1,000. One source isn’t necessarily right or wrong . but may be bias. The amount you trade with isn’t necessarily an important factor especially when there are regulated brokers that allow deposits as low as $10 along with demo accounts that allow you to develop your strategies, Build your portfolio to progress to a steady income with next to no risk.
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