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Steps to start a trading career

Many People want to discover what they will do for the rest of the life but they don't know on how to start.Some people who come across the word forex for their first time feel as if that is what they want to do in their life .

When they do their own research on the internet they normally come across on how forex trading has made people to become millionaire.Because of this many do research on how they can start a trading career .After getting so many informations on the internet,Many people just open a trading account without first perfecting their skills on online tutorial on forex trading and deposit huge amount of money with the hope that they will become successful in the field of forex trading.After they have started their first trade,they will see themselves making some profit and most of them will start feeling happy and start calling themselves traders guru not knowing that they have a long way to go in this financial market.

Days passes by and most of them will start realizing that they have started making some losses everytime they are placing an order.Suddenly,due to fundamentals the market crashes and the market goes against them causing their account to liquidate.Because of this many start wondering on where they will get the next capital to fund their trading account.When they get another money to fund another trading account,they become very happy because they have resumed back to their trading career.After trading for some days,the market will go against them .The market will continue going against them until that account become liquidated once again.This will make these traders to start losing hope in a trading career because everytime they fund an account and start trading by themselves,the account gets liquidated.This will make these traders to start thinking on quicking their trading career and start looking for something else to do because of desperation of liquidation of their account.Many do not know that they need to follow a certain route which they never did when they were starting their trading career.That is why i am here to help you know about the route which all traders must follow in order to make trading their career.Here is the step to follow for all upcoming traders;


  1. The first time you came across the word forex and you felt like this is what you want to do for the rest of your life,The next thing you need to do is to ask yourself on how and where you will perfect your trading skills.This skill is very important in every field.For example,even for somebody who want to become a doctor,he or she must first of all have do research on several medical school.After getting several schools offering medical training,he or she will choose the one that they feel offers the best training.After that,they will have to know the tuition fees which they are supposed to pay in that institution as well as the time period that they will be training themselves in that istitution.This also applies to forex trading in such a way that individuals who have felt that trading is their passion,then they should do the same.They need to do a lot of research online on several academies that are offering forex trading training as well as the duration and the tuition charged by those forex trading academies.After that,they should choose the best school and enrol.
  2. After enrolling in the forex trading school,one should be focused in the training.The first training will be in form of theory work.Make sure that beside the training offered in those forex school,you also do more research on what you will be trained on over there from the internet because those forex trading schools they are business like any other business.They will not tell you all the secret of trading.They will only train you on the basis of trading but not on the advanced.
  3. After you have perfected all your skills on the theoretical part of trading,the next thing you need to do is to open a demo account.Even if the school where you will be attending also teaches you on a demo account,make sure to open one on your own.
  4. Now since you have started using a demo account,My assumption is that the forex trading school which you have been training there to become a trader had already taught you on how to use a demo account.On this demo account,you can train yourself on how to use it.Some of the basic training here will be ;a.How to click a buy and a sell button,How to reset the lot size you want,How to place the trading pair you want ,How to change the time frame,How to use several trading indicators and many more.
  5. After perfecting your skills on how to use all these on an MT4 or MT5 demo account,the next thing will be to dicover the kind of a trader you want to become.Either a swing trader or a day trader.A day trader is a trader who adheres to a trading style called day trading. This involves buying and subsequently selling financial instruments (e.g. stocks, options, futures, derivatives, currencies) within the same trading day, such that all positions will usually be closed before the market close of the trading day.On the other hand Swing trading is a short-term strategy used by traders to buy and sell stocks whose technical indicators suggest an upward or downward trend in the near future -- generally one day to two weeks.
  6. After knowing the kind of trader you want to become the next step will be to choose one of these time frame,i.e 1M,5M,15M,30M,1H,4H,1D,1W,1M and 1yr.If you want to become a day trader,the best time frame that i will encourage you to choose is 1M,5M,15M,30M or 1H and make sure to perfect in one of these while if you want to become a swing trader,then i will encourage you to choose between 4H,1D,1W,1M or 1Y time frame and make sure to perfect in one of them.For me i normally use 1M time frame because it enables me to know the direction of the market very fast and enables me when to enter and exit the market very fast
  7. If you have chosen to become a day trader and you have managed to perfect in one of the time frame,i.e 1M ,then the next step i will encourage you to do in order to make trading your career is to study the market the whole day and you make sure to know how many directions does the market move per day.If you have discovered that the market moves in one direction per day,then well and good for you while if you have discovered that the market moves in two direction the whole day,also well and good for you.
  8. After knowing the movement of the market the whole day,the next thing you should perfect on is on when to enter and exit the market.Do you want to enter the market in a scalping way or in a hedging way.Scalping is a trading strategy geared toward attaining many profits on minor price changes while hedging means reducing or controlling risk. This is done by taking a position in the futures market that is opposite to the one in the physical market with the objective of reducing or limiting risks associated with price changes.
  9. After you have perfected your entry and exit point in the market ,the next thing you should do in your demo account would be to perfect on your strategy and make sure you are always using that strategy which you will have created on your demo account to enter and exit the market.
  10. After you have discovered that your strategy which you have created is working well on your demo account,the next thing will be to create your risk management strategy.For example of a risk managment strategy would be to open a position of 0.01lot when you have an account of $100,0.1lot when you have an account of $1000,1lot when you have an account of $10,000 and 10lots when you have an account of $100,000.When,you apply your risk management like this,then with a $100,you will risk to loose 1000lot/$100 and to make 100lot/$10 per day.Loosing 1000lot/$100 per day is impossible with this account size while making 100lot/$10 per day with a $100 account is possible.This is a very good risk management strategy and i normally apply it and it is working 100% for me if you perfect on it.With a $100,000 account,you can be making $10,000 per day with this risk management if you perfect on it.
  11. After you have choosen the risk management to use,the next step will be to perfect it on your demo account .If you have discovered that you are making money on your demo account using your strategy and your risk management created,the next thing will be to start looking for money so that you can fund your live trading account.
  12. After getting money to fund your live trading account,the next thing will be to look for a good forex broker which is regulated by financial conduct authority of a country so that to make sure that when you deposit your money in their site,you will not loose your money incase those forex brokers become bankruptcy.Forex brokers are firms that provide currency traders with access to a trading platform that allows them to buy and sell foreign currencies.
  13. After getting a good forex broker,the next step will be to open a live account and make sure to verify the account.
  14. After opening a trading account and verifying it,the next step will be to deposit atleast $100 in it and make sure to apply your trading strategy and the risk management which you will have created on your demo account.
  15. When your strategy is working,what you should do with your first profit is to withdraw it,buy something with it and feel how good forex money is
  16. After you have created you fulltime trading job,you can decide to fire your boss because you are now your own boss.

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