First Year of Trading: What To Expect
By now, in the digital age, you must have heard about Forex traders.
Whether it’s independent traders spamming up your Instagram DM’s or spam emails themselves of companies, there’s simply no hiding from Forex traders.
But what does Forex even mean? How does Forex Trading for beginners work, and how can you actually get involved in making money?
Forex, in simple terms, means foreign exchange, so if you have ever been on holiday anywhere outside your country and have participated in Forex without even knowing as you take one currency and exchange it for another.
As Forex traders we can then trade this on a daily basis on a chart, where we look at and compare exchange rates. For example, the Euro against the American dollar. We then compare the exchange rates and make a profit by trading currency from one to the other.
What you may not know is that this method of trading, Forex trading, is the biggest financial market in the world, trading 6.6 trillion dollars daily!
Sounds interesting now, doesn’t it?
What to Expect As a Beginner in Forex Trading
Below are our top 3 tips on what to expect and what you can do to get ahead.
1. Get ready for a whole new language
Like any job, Forex training has a range of different terminology. So in order to prepare yourself, familiarise yourself with any terms you don’t know as best you can and start incorporating them into your every day to understand better.
2. Education, Education, Education
As with any new skill, it is important that you understand best you can how you can each element, to do this, it is important that you properly educate yourself. Forex graphs and charts can be challenging to digest and overwhelming at first. To combat this, make sure you have a mentor or some guidance on how to understand these metrics and how to trade consistently.
3. Keep your friends close, keep your brokers closer
We wouldn’t be able to do what we do without brokers. What brokers do is they give us an opportunity to buy into their market, whether you are buying or selling a current currency pair. Forex trading for beginners can be overwhelming but at Guerilla Trading we are happy to answer any questions. Our Forex mentors have plenty of experience in Forex marketing and know everything you need to know about Forex Trading.
So don’t wait. Start your Forex Trading career with our expert education platform, market-leading resources and global community. Sign up today.
HAVE ANY QUESTIONS?
Do you want to learn more about Forex? Or would you like to understand how Forex experts achieve their trading goals? Speak with our team now and we will be more than happy to help.