What Is Forex Trading for Students?
Forex trading is the least complicated trading platform out there, especially when just starting out.
Forex is a global decentralized or over-the-counter market for the trading of currencies. This market determines the foreign exchange rate. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.Wikipedia (2019).
Forex trading is one of the easiest ways to start out in trading. Most people start here to gain experience. When you find online trading platforms they should offer paper trading so you can practice without losing your money and as you go through training.
TO HELP YOU GET STARTED
I am offering you a free book to get you started. Remember, trading is not gambling. Take it seriously and take some time to pick a couple of companies to research on. First, go to yahoo finance, look up the company and see if they have more capital or are more in debt to stakeholders. If it is a big company that has bee around a long time, you still should know who your trading with.
Search Out The Company
I do this the night before. I think about what is going on around me, fads, gas prices, and so on. Then, I look up the company on yahoo finance. I use some tools I have learned in school to make sure the report is accurate on the companies numbers.
Look At The Charts
Look at the trading charts from 1 day, 1 week, 1 month, and 3 months. See what the bullish trends are and the bear trends. Bullish is when the market is going up, a bear run is when the market is going down. Draw lines on each chart at the top of the bull run to the next 3 they will all match up pretty close.
Do the same for the bottom of the bear run at u curve to u curve that is about the same point. This is your medium you want to stay within this point. This will give you an idea looking back at the charts when you are done if the market will keep climbing on a bull run or if it is on its way back down going bearish.
You can make money when the market is going down, I am just not good enough yet to give you advice on this yet.
What Company to Go With
find the trends for you to make better trades. I do get credit for sending people to links. I want you to know, I have been studying the stock market on my own for all most two years. I could have made it simple and been trading within days of signing up.
I decided after all that time, to try different avenues to see how my skills are and if a company I chose to learn more from would try and take advantage of me and give me what I did not need. I do not have my link with tradenet or yet as I decided to write this post today. I will have it soon, but if you do sign up with them mention my name, Sheri Merrick so you can get a discount.
I have found Tradenet.com to be the best because they give you free advice up front. They can give you grants to start with if you do not have the money. I highly recommend this company because they have been in business over 20+ years, ad they truly want you to succeed.
Tradenet will have you try a few things out to see if trading is for you, as for some people it just may not be. They will give you a chance and work with you and if you follow their advice, you can be a good trader. You can even follow trades of top leaders and do them yourself. The key is for you to learn your own strategy in time.
Forex Trendy is a good tool to have when starting out if you do not have time to reason the charts. It is very well known and has a top of the line trading chart as well. I suggest taking a few free classes with Tradenet or brushing up on the lingo through YouTube, and by using Forex Trendy, your trades will be done for you.
Trading is fun and rewarding. You have to take the losses with the wins and remember the stratdity you were using when you won. You will learn about limits when you set where you want to start your trade; a stop when you want it to sell and if it goes bear on you, (a downward trend), you put a stop loss on the bearish end so if the market continues to go down, your stocks will trade at your price, not the markets.
This saves you from losing all your money. Do your homework so you know the trend the bull run is on and you will come out ahead of your losses. This is how you build your wealth. DO NOT EVER GO INTO A TRADE GUESSING!
Trading is not for everyone, this is for entertainment purposes only. Trade at your own risk, I am not responsible for your trades. I do need to put this disclaimer in so I am not held responsible for your wins or loses.