Practical training and good understanding of the prices movements using technical & news indicators are considered the basics for training on any type of stock exchange trading, so we advise to open a demo account in any brokerage company for free & start training on it on condition that you spend not less than 6 months of practical training & there will be many positive factors that would help you to enter Forex & open a real account later, we mention of them:

  1 - It's a very big mistake that many of us do, to enter the Forex field & start trading without training nor any previous experience, to be able to trade really you need not less than 6 months of practical training.
  2 -  You can start training in a real account with a minimum amount of money that you don't really need in order to add some serious to your work & this is better than opening a demo account which you don't pay anything for it as here you become more interested.
  3 - Another factor that causes loss in Forex trading in addition to ignorance & lake of experience, is greed which is a very important loss factor.
  4 - To decide to deposit a large amount of money you must first be:
    a - Well trained practically for not less than 6 months.
    b - Ensure that if you lose that money, you won't be greatly affected or harmed.
    c - Don't sell your properties to trade with them as your car or home, if you did that you are starting to lose.
    d - You must make a special strategy that is applied as was planned for.
  5 - Lake of technical analysis & news follow up are causes of rapid loss.
  6 - Continuous reading & following up educational sites are the best means to reach success.

  We can conclude the previous in that; who decide to start Forex, should be well qualified as mentioned before & have enough experience, while greed & rushing are your real enemies in your work, if you could overcome them you would have succeeded.

  There are many tools that could help you take the right decision during trading in Forex, we mention from them: 

Technical Analysis

  It depends on graphical charts & maps, you can benefit from these charts that you can watch them on your computer screen which will give you a help of about 25% to take your decision, & can clarify for you the possible predictions for the future price of a certain currency pair

  These charts could contain many other wonderful tools that would help you predict the movement of the index & if the market is rising or falling down as Japanese Candles & MACD indicator & many other indicators that will really help you take your decision.

Financial News & News Channels

  There is no doubt that the news also affect the direction of the market, such as news of political, economic, social, wars & accidents, these reports affect the Forex market by about 75% & this could be very clear in strong news as in the change in interest rates in the country of a certain currency, the retail sales, the consumer price index, the trade balance of a country, the consumer confidence index and so on, so we can notice an increase in the price of the Euro & decrease in that of the dollar in a certain season for example, & so on.

Live & Direct Recommendations

  If you had a previous experience you should have known the meaning of "recommendations" term, but if you were a beginner, we could tell you that "recommendations" means predictions noted in some forex or forex related web sites that expect the price of a certain currency pair that reaches a certain value in a certain time, these recommendations are very important for speculators to assist them in making the decision to sell or buy, but is not reliable nor 100% accurate of course, you may follow a certain recommendation then you find that the index is moving against it, so your mind & intelligence are the best for thinking & analyzing the market & predict the possibilities.

Start Trading

  1 - Open a free account (demo account) in a brokerage company;

  Opening a demo account is considered as the first step to learn through your own practice in Forex, that company will give you a non-real amount of money in your account to use it for trading in Forex, start making deals & positions, buy & sell as if you have a real account, with daily practice you will learn & gain experience.

  2 - What you will learn from a demo account : 

  Choose a pair of currencies, EUR/USD for example & determine your target at a certain point to gain your profits, in other words you should determine the price at which you would buy the currency & the target at which you will close the deal, on the other hand you should also determine the point at which you close the deal if your loss reached a certain point which is called "stop lose", a very great idea that enables you to determine the maximum loss at which the deal is closed if it is moving against your predictions, you also should determine the period of that deal to remain opened, minutes, hours, days, or more, make a strategy for yourself to follow.

  Following up the daily news is very important for the successful speculator, you should also study the main currencies in the market which is much more easier than studying the companies stocks in ordinary stock exchange, & the news & informations you need will be available through many sites on the internet.

  3 - After you ensure that you became better qualified & able to trade with real money, start working with the real account to collect the profits you are waiting for, you can choose to trade via the demo or real account via your main account in the company you are using without the need to open a new account.

Some examples of the ways and methods of trading

  1 - Example (1); Buy (Long) position:

  Suppose that after you have made the necessary studies & analysis for the market, indicators, & charts, you have started a buying deal on the pair EUR\USD by 1000$ at the point 2.2000 then the price raised to 2.2100, the difference between the two prices is 100 points which is now your profit & equals 1000$ added directly to your account, as the point (1% of the amount you used in the deal) equals 10$.

  We must differentiate between the minor account & the professional account in most brokerage companies, in the first, the point = 1$ while in the second, the point = 10$ & you have the choice to open either accounts when you start opening a real account, & of course the risk of loss is much more in the professional one than the minor.

  1 - Example (2); Sell (Short) position:

  After you have also made made the necessary studies & analysis, you can sell at a high price to close the deal or buy at a low price, for example, if you sold EUR\USD at 1.2000 then the price decreased to 1.1900, you earned now 100 points which is the difference between the two prices, equaling 1000$ added directly to your account.

  We should clarify here that as you can achieve imaginary profits at that market, Forex trading, you may also lose large amounts of money, so we strongly advise to be well armed by the necessary knowledge in that field & to have the enough data & good experience in trading to deal with that market in the right way on proper scientific base, thus we advise to start with a demo account before trading with real money.

  To start trading with a demo or a real account, sign up in one of our recommended brokerage companies, you can find our list here.