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How To Start Out as A Forex Trader Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass Click Here to Check Out Other Recommended Brokers #547: How To Start Out as A Forex Trader In this video: 00:22 – Do you want to start trading? 00:44 – Trading Forex – The Basics. 01:30 – Choosing a Forex Broker. 01:56 – Forex Education. 02:23 – Your Trading Plan 02:50 – Start on a Demo Account. 03:12 – Technical or Fundamental Trading. 04:08 – Trading and Travelling. 04:44 – Blueberry Markets. 05:00 – My 1 Hour Masterclass and Book a Call. 05:34 – Comment, Like & Subscribe. How do you start as a forex trader? I'm going to cover that topic and more for you over the next few minutes. So let's get started. Hi everybody! Andrew Mitchem here at the Forex Trading Coach. Do you want to start trading? So you're interested in diving into the world of forex trading. Now whether you're looking to supplement your income or to embark on a new career, starting out as a forex trader can be both very exciting and also challenging. And in this video and podcast, I'm going to walk you through the essential steps that you need to get started on the right foot. Trading Forex – The Basics. Now, first, let's cover the basics. Forex trading or foreign exchange is a global market for trading currencies. It operates 24 hours a day, five days a week, and it's the largest financial market in the world. Now, unlike other markets like stock markets, which are based in specific locations like New York or London, the Forex market happens over the counter, which means that basically transactions are conducted directly between parties, usually through an online platform. And to start trading, you need to have a reliable internet connection. Obviously, a computer, laptop or mobile device and just somewhere that you can sort of focus on trading somewhere quiet, you can focus on trading. Choosing a Forex Broker. Next, you need to choose a forex broker and look for one that's regulated and has high quality rankings as well. Competitive spreads and uses platform such as Metatrader 4 or Metatrader 5. I'll put a link on this page to a list of brokers who I use and suggest that you consider because that's going to massively help shortcut the list for you. Forex Education. Now, education is also key to being a successful trader. You've got to learn the basics. The fundamentals of forex trading. Understand how currency pairs work, such as the majors like the EUR/USD and GBP/USD and then get into more like the minors like the AUD/NZD or EUR/GBP. And you got to familiar eyes yourself with you know what pips are leverage margin. All those type of phrases which right now may not be familiar to you. Your Trading Plan Next you need to develop a trading plan, and a solid trading plan should outline your financial goals, your risk tolerance, specific strategies that you plan to use. You need to decide how much capital you're willing to invest and of course, never risk more than you can afford to lose. So a good rule of thumb that I use is I risk only half of 1% of my trading account on a single trade. Start on a Demo Account. And before trading the real money, of course, you should practice using a demo account. And most brokers offer a demo account to basically simulate real trading conditions. But it's not real money. Now, use this opportunity to test your trading plan and your strategy and get comfortable with the trading platform without having that risk of losing real money. Technical or Fundamental Trading. Understanding market analysis is also crucial. There's two types of analysis. There's technical and fundamental. Technical analysis means looking at charts, using indicators, etc. to predict movements. Whereas fundamental analysis,
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Welcome to The Passion Pod, a podcast by The Collective, powered by Disciple. In this show, we interview Disciple customers and community enthusiasts from all industries as we discuss building and scaling communities. Tune in to learn all about the passion economy, how you can create your own private community, and much more. I'm Valentina your host for this episode and today I'm talking to Brandon Santiago, Founder & CEO at RH Made. Let's get to it. About Brandon In early 2020 Brandon teamed up with his long time business partner Joey Nunes to develop a Forex Education community called R.H. Made. The marketing and music industry veteran decided it was time to switch gears, and professions, when he set out to learn how to trade global currencies as a side hustle at the start of the COVID-19 pandemic. “We were faced with a handful of situations such as scams, false information, poor delivery of education, and just an overall lack of communication between those learning and those teaching. After some bad experiences we knew we had to develop something and fill the void.” - Brandon, on why he decided to build a community. After meeting a few key players, including Juvy Saint-Louis, the group focused on the experiences they were faced with and began developing an immersive education-based community. Using a true “community” model, R.H. Made has made an impact on the industry even on a smaller scale. The program consists of live trainings at their central office location, multiple daily Livestreams, as well as community access to educators and other members that are all on the same journey together. Battling the on-going stigma that Forex trading carries, the team at R.H. Made plans to change the mindset of as many people as possible - one person at a time. Anyone can become an educated, profitable trader with the proper foundation and support. Follow Brandon on Instagram: @bovadagod R.H. Made on Instagram: @rhmade.fx And check out www.rhmforex.com
Dylan Proctor on Foreign Exchange, Stocks, Business School, and Building a Community of Financial Focused Entrepreneurs! Dylan started Trade Central after being involved with a Forex Education company. He embarked on his mission of teaching trading for free as he noted that the pressure of other companies, their sales techniques and abundance of false data spread by scam artists, did not allow for optimal education for most users. Thus, Trade Central was born! Dylan has been hosting weekly "Trade Nights" at the Trade Room of his own home for the last 2 years. The Trade Central family has grown considerably, and they are working hard to expand into public trading floors in cities around the world. If you are interested in learning more about Forex Trading and Trade Central follow the links below to get direct access to Dylan and the Trade Central Free Resources while they are still in beta! tradecentralofficial.com Follow me and get connected on YouTube and Instagram: https://www.youtube.com/channel/UC5_ENK1C1809WD9HHLykh-g https://www.instagram.com/jackplumley/