How To Start Forex Trading – In 3 Minutes!

To start Forex trading in under three minutes, I only have three minutes to explain it as quickly as humanly possible.
But the goal is to save you thousands and thousands of dollars and save you years of struggle.
So you don’t have to go through what I had to go through to figure out how to trade and how to start trading forex the correct way.
So let’s go ahead and let’s dive right into it.
Step number one is that you need to learn the basics or know the jargon.
When you’re learning Forex trading, you’re learning to trade in general. It’s a whole new language. Whenever you learn something new, you need first to learn the language of what’s a PIP. What’s a lot of sizes. What is, you know, an indicator, all this sort of stuff.
It would help if you learned the lingo first. So there’s a couple of places that you can learn the lingo and learn the basics. If you want to look for free, you can go to babypips.com, and you have to read. There’s a whole bunch of stuff that you read about it. Or you can go to edge trading Academy. I’ll include a link below. You can get a seven-day free trial. You can sign up for free. You can go through all events, broken down into little two to five-minute videos. So it makes it easy.
In my opinion, the best trading that’s on the market. So you can do either of those, but you need to learn the basics. First step number two is to go ahead and open up a demonstration account, a demo account, not a live account. You want to play with it, practice with it. So you don’t lose a ton of money at first, because chances are you’re going to struggle at first. So open a demo account with a brokerage. There are hundreds and hundreds of brokers. How do you know which ones to choose? That’s up to you, but basically, you want to look for some that are ECN account.
You want to look for somebody that has live chat support. You also want to look for somebody that has positive reviews online, and you want to look at how many years have they been in business and how many customers do they serve? If you want to know the brokers that I use, I’ll also include a link in the description below. So that way you can use that one. The third thing you need to do is find a winning trading strategy if you’d like to. And the cool part about trading is just like anything. If you want to get a shortcut to success, model somebody that’s already successful. Look, if my grandma knows how to make the most amazing brownies in the world, and you don’t know how to make brownies, but she gave you the same recipe, and you followed that step-by-step, the chances are you could probably make those brownies. The same thing goes with trading. If you model somebody who’s already a successful trader, you follow exactly what they’re doing. Exact rules, clear minds, everything. Then the chances are you can become successful too.
So if you’re not sure which Forex trading strategy that you want to use, then I’ll also include a card up here on this video, which will include the number one best Forex trading strategy; it’s super, super simple. I break everything in depth.
Suppose you need to learn a Forex trading strategy, okay. After you’ve got your strategy, number four is you need to backtest that strategy. What does that mean? That means look at historical data. You’d go back, and you look at historical data, and you want to start trading this. You can use a Forex simulator, or you can scroll back a year in your chart. And I recommend backtesting at least a year.
So you get familiar, and you train your eye with how to use this trading strategy, your trading strategy. It would help if you came up with something that would allow for an entry signal. So what’s, what are you going to enter on? The second thing is you should see how much money you are going to risk per trade. And then what’s going to determine whether you’re going to exit as stop-loss or you’re going to exit as a take profit. So your trading strategies should incorporate all three of those things, but you need to backtest them. So that way, you can start seeing, like, when would I enter the trade, and how would this play out? And so you can start to become familiar with it now after you’ve backtested the strategy and you feel confident that, Hey, this is a winning strategy. It is. The next thing you want to do is go to number five, which is to forward test your small account first. So start with a small amount of live money, or start ideally on a demo account to start; you’d want to start trading a demo account from forward testing first, then move to a small account. And then once you get familiar with the trading strategy and you’ve got it going, you can move on to a larger trading amount. So that’s it. That’s how to start Forex trading. And literally under three minutes, if you’re brand new, you may want to do what helped me while you’re learning this skill. You may also want to start earning at the same time. So you may want to consider using a Forex robot while you’re still learning the skill and going through baby pips or the edge trading Academy. So I’ll also include a link here on the screen right now, including what to look for in a Forex trading robot.

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