How to Trade Forex for Beginners

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How to Trade Forex for Beginners
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Index

• Forex Trading for Beginners
• How to Trade Forex for Beginners
• Forex Trading Tips For Beginners

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Forex Trading for Beginners

• Forex trading is the leading market in the globe,
  is where currencies are traded or exchanged, 24 x
  5 from Monday to Friday.
• Over USD 5.3 Trillion are traded every day in
  forex markets, thus earning the name of one of
  the most liquid markets across the globe.

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• If you are a beginner in forex, you have to shell
  out about 50 to open a micro account and get
  started.
• However, you first need to understand the basic
  forex market terminologies like the following

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How to Trade Forex for Beginners

• If you are a beginner in forex, you have to shell
  out about 50 to open a micro account and get
  started.
• However, you first need to understand the basic
  forex market terminologies like the following

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PIP

• Pip is the lowest price change in a particular
  forex market when trading.
• Its normally exchanged in increments of 0.0001
  (1 Pip).

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Cross Currency Pair

• It refers to the pair of currencies exchanged in
  the market without including the US Dollars.

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Currency Pair

• The pricing format and the quotation of the
  currencies exchanged in the market is known as
  the currency pair.
• A currencys value is decided by comparing the
  value of another currency.

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Base Currency

• Base currency also referred to as the accounting
  currency or the domestic currency is the initial
  currency cited in a currency pair on forex.

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Quote Currency

• This is the next currency, after base, cited in a
  currency pair on forex.
• This currency is also called the counter or the
  secondary currency.

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• Forex for beginners can be very interesting once
  you understand the basic terminologies of the
  market and learn the know-how of trading forex
  for beginners.

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Forex Trading Tips For Beginners

• Here are a few tips that help you as a beginner
• 1. Interacting with other forex traders will help
  you learn faster.
• 2. Trying and looking at everything realistically
  will help you have a profitable strategy.

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• 3. Getting emotional will not help, so try to
  keep your emotions under control.
• 4. Choosing a methodology and following it
  consistently will help.
• 5. Focusing on your goals and learning to accept
  small loses is important.

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Thank You