What is forex trading?
Forex trading - This is the process of speculating on currency prices to potentially make a profit. Basically, as a forex trader what you are doing is speculating on whether one currency will rise or fall in value against the other. Forex trading is one of the lucrative businesses available today. Trading forex is a form of investing that one can engage in to create extra income for use. Personally, I trade the forex market and I started trading back in 2018. I have been able to acquire consistency and manage to make $250 a month which supplements my employment income. So to get started in forex trading you will require the following:
1. A computer or mobile phone that can access the internet
2. A forex broker.
3. A forex strategy.
I am gonna show you how to have the above and get started in trading forex.
1. A computer or mobile phone that can access the internet.
To get started ensure you have a gadget that can access the internet, with this you will be able to access a forex broker and execute trades.
2. A Forex broker.
In the forex market, there are financial service companies that are involved in providing traders with access to platforms for buying and selling foreign currencies. These companies are called Forex brokers. There are many forex brokers that provide these services and are regulated. Personally, I use JustForex for my personal trading. JustForex offers a 150% bonus on any amount you deposit to trade with. After getting a forex broker, you will be required to head to the app store on a mobile device and download the MetaTrader app.
Congrats, having followed the steps above you will now be having a forex trading account and a regulated broker.
Now have a forex trading account and broker the next step is creating a strategy. A strategy is a technique used by forex traders to determine whether to buy or sell a currency pair at any given time. A good strategy will help you create money in trading.
