Level 1: Basics for Beginners in Online Trading
So, you are a beginner in Forex. This means you have a long way to go before you become an expert trader. There are many options that may help you increase your win chances right at the beginning, however, you will discover that it is up to you to press forward and make progress. Some brokers offer 1-on-1 trading sessions, however, those are scarce unless you opt for the advanced loyalty programs, which are usually tailored for professionals. Auto trading is not such a bad idea, however, a lot of excitement is lost and personal growth is non-existent as the robot does all the work. In order to start your career in CFDs trading or binary options the right way, take a look at resources below.
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Basic Economics and Forex Trading
In order to become a successful trader, especially in the long term, it is crucial to know how to read the economic data coming in. If you are the type of trader who wants o utilize swings in the markets as big events happen, even with the help of the Economic calendar,you need to understand why these market moves are happening. What is the effect of monetary policy, what is GDP, how do interest rate movements affect future income? These are some basic economic issues every trader needs to master.
Along with economic theory, some basic trading questions must be answered. How to decide on the appropriate underlying asset to trade, how to trade currencies such as the EURUSD, how to decide on expiry time and how can fundamental analysis be used to score profit long term. The forex trading basics are also covered in the set of articles below.