Before starting Forex trading, I want to give you some instructions, do not take it easy and joke, think deeply and apply whatever is being told to you. I feel that I want to share with you all the problems I faced during my trading journey and the knowledge I have, so I consider it necessary to give you these instructions.
alert :-
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1• If you have a job or income source then you can see your future in forex trading.
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2 • Try to learn for at least 1 month
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3• Trade the demo account like a real account for 1 month with rules and discipline.
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4 • Do not enter this market at all by taking loan or bank loan.
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5 • Invest only the money you are willing to lose. I mean, even if there is a loss, you will not feel sad. You are ready for the next try. If you are not able to bear the pain of loss, I will also feel sad, friend, love. Everyone will talk about the same thing. Crorepati is no more. This is true.
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6 • Don't enter into the trading field by keeping the land, gold and jewelery in your mind.
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7 • Trading should not be seen as gambling, here daily transactions of 9 trillion dollars take place, so you can understand how big the market will be, you will also see a lot of money, greed will come in your mind but do not be greedy.
If you follow these things then do not be afraid to move ahead, you will be taught about forex in this platform A2z.
what's need to start forex trading:-
We are not giving you information about Indian SEBI regulated brokers, we are telling you about international decentralise forex exchange. If you want to start your trading journey with Indian SEBI regulated brokers, then this blog is not for you. If, like us, you too are looking for a trading career in the international forex market, then this post is for you.
What you need to get started with Forex trading or investing
Any one or all of the following
- 1 mobile laptop or computer is necessary.
- Internet connection
- mobile no
- email id
- Aadhar Card Driving License or any other residential identity proof.
Find a broker that suits you (in the next post we will tell you how to choose a broker) now we are providing you account (demat account) in OCTAFX broker which is a regulated and trusted broker. If you also want to create your account in octafx then you can create your account in it.
- This is a trusted broker in India which we have been using since 2016.
How to create an account in Octafx
First of all click here, if you are using mobile then you will be asked to download the app. If you are using a computer laptop then you can create your account directly by signing up.
Here you have to fill the complete details with the correct information which is in your Aadhar card, or your ID card.
⏯️You will receive a mail, open the mail
⏯️Click on Verify, a new page will open. Now fill all the required details and activate or login the account.
(Remember, you would have received another mail in which you would have given account details and pin. Pin is used to withdraw and transfer your money, note it down and keep it in a safe place.)
▶️After login, go to the menu, click on the option Settings,
⏩then you will get it, click on the profile, ⏩ now verify the account, in this you have to upload the photo of your ID card, DL or other proof which you have. (Click photo live) Your account will be verified within 1 hour.
Your account is ready, now we will learn how to start trading:-
Click on the menu bar of Octafx (the process is the same whatever broker you use)
You will see an option my Trading account
You can create any number of trading accounts and trade in any field. Here you will get 3 options where you can buy and sell currency.
(In Forex, you can take profit in both sell and buy, whether the market goes down or up)
software or app for trading
1. octa trading - You can do this trading in octafx's own app.
2. mt4 - can be downloaded from playstore
3. mt5- You can also download it from play store
You can choose any option, all are the same
Now we will start trading from demo account and not from the original account.
New traders who are just starting or are already using Forex but are not able to understand anything, then you should also start with a demo account -
There is a demo option in the Trading account option, click on it.
Click on + below
Now click mt4 and put the amount of $ you want in it (this is free demo $, don't consider it as a fake).
Click on conform, your account is created
You will get its password in your email. Note down the password from the email.
Now if you install mt4 app or click on demo account, the install option will come, install it after installation.
Login to OctaFx-demo server
Example ---
ID----13465723
Pw----xh*456%k
Login
After login, your deposit money which is of demo will be Rs. 100. Now you can open trade in any currency pair (remember same trade is done in orignal account also, this is only for your learning)
This was the basic way to start forex trading
How to start trading for new traders? Pay attention again -
🕦 Create your account
🕦 demo account login karen in mt4account
Demo method to practice
🕦 When you are free or sit down to trade, whatever time you devote, your entire attention should be on it.
🕦 If you are busy in some work, exit the trade or take stoploss and take profit.
🕦 Open par lot size here according to what is your original investment and what you want to do.
🕦If you are going to invest ₹100000, then add only $1000 balance in the demo so that you will trade considering it as real.
🕦 is equity, I can open 2 trades of 0.10
🕦 If you are thinking of opening a trade in metal crypto and index, then reduce your trade lot size.
Friends, your trading journey has now started. This was the way to start trading. Now you can give as much time as you want to demo trading and learn.
Further classes of trading will start now. This is just the beginning for you. Before getting further information about trading, you will have to get complete information about both these fields (new posts will come on this). Understand each option as much as you want.
1.Broker {You should know every little thing about the broker you use so that you do not face any problem in operating it}
2.Mt4 {You should have complete information about how to open a trade in Mt4, how to close an order, stoploss, takeprofite, buy stop, sell stop, buy limit, sell limit and indicator}
These are the main tools of forex trading. If you want to be successful then it is important to have knowledge about them first.
Important tips
If you want to be successful in Forex trading, then start it considering it as your business. If you are starting it to earn money, then you are requested to get mat in this field, it will not only harm you but our country will also suffer.
If you want to earn money from forex then select copy trading. We are starting our own master account from 3 Jan 2024. You can copy us. If you are interested, please message me in the comment.
You can learn from this and your money will be also saved.
Always keep in mind that to get a job you have to study at least 12 years, so consider that this is a business. To be successful in this, you will have to work hard for 1 month with all your heart.
If you learn forex, even 100$ is enough to achieve your dreams, but if you come here to earn, it will not take time to spend even crores, so I will tell you again, you have to work hard, keep yourself disciplined, repay the debt and become rich quickly. If you don't want to come then welcome to the world of forex.
Forex trading doesn't end here, it starts now, so don't make the mistake of leaving us. Thank you.
⏩New traders to create their account (forex demat account click here