Getting Started with Forex

By: Nia On Air

A lot of people are asking the question now, what did you do in quarantine? What did you do with your time? Did you learn anything new? Well, for myself, I want to talk about what I learned, and one of them was Forex. I am still working on the language thing, and of course, still learning forex but happy to share some of what I learned with you all. Hopefully, I can educate someone out there or spark another person’s interest in forex. Now, especially in such an uncertain time, financial security is essential. Forex is the largest financial market in the world. Trading against the world’s most extensive economics and heavily traded currencies are apart of the forex trading market. Essentially, you will be buying one currency and selling another at the same time. You want to learn more, make sure you read this article in its entirety for the best information. If possible, donations are always welcome to keep this information coming but never required.

First, the most important thing to get started in Forex is finding a broker to trade in the market. TD AMERITRADE, FOREX.COM, HUGOSWAY, and META TRADER 4 just a few examples. Once you have a platform to sell on, you can now invest money. I spoke of Hugo’s way before, and that platform is a third party to load cash into the market from your bank on to a platform like Meta trader 4.

Without a doubt, what is most important to know when trading Forex?

Learning anything takes time; however, there are many people selling MLMs style “learning.” Be mindful that you don’t get caught in a company that is just providing signals. Learning the graphics and how to read them is very important. If you can know yourself, teaching others forex can turn into a business.

The above image is a visual of what was discussed previously regarding major currencies. The first two letters indicate the country, and the last letter represents that countries currency name. As we talk more about forex, I will teach you additional terms, and we will look at some graphics. A strong suggestion is to start with paper trading first. You are responsible for your portfolio, which we will discuss more. Therefore, you don’t want to know what you are doing and lose more than you expected. That is apart of knowing your stop loss. Forex is a great market to look into, especially at this uncertain time. Make sure you follow me and like this article if you are interested in more forex education posts.

Now that you are know how to get started in forex and the beginning of the basics. Let’s talk about when you are ready to start trading. Forex is a market that is open Sunday from 5 PM to Friday, closing at 5 PM. Why is this? Currency around the world value changes in minutes. Focus on the chain rate as the volume in the forex market fluctuates.

Learning forex is pretty simple if you have the right person behind you to answer your question regarding the graphics or signal. Yes, having someone to bounce ideas off is more comfortable. If you are interested in learning more, more posts will be readily available, but I will be offering a small consultation program to those who want to know more. Make sure you follow and donate (if possible) if you can, to continue to provide more content about forex. Check out the link: niaonair.com to learn additional information. Look for a post on Forex every Thursday. I will discuss specific forex topics to grow your portfolio; we look forward to sharing more of what I learned during the quarantine about forex.

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