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How to Start Trading in Forex

Learn the basics of forex trading

For most, the world of foreign exchange (forex) trading, is one a little too mysterious, even perilous. The jargon. The numbers. The highs and lows. And of course, the very real requirement of parting with one’s money on what is often a whim and a chance, and dependant on a sometimes volatile market. It can all seem a little too risky.

There are, however, those who do still feel the call to trade. The excitement of that forex trading world lures many with its siren song of a possible very lucrative windfall if it’s all done right. And what’s more, one doesn’t even have to be in the industry. Doctors, schoolteachers, middle managers, students – everyone and anyone can learn to be better at forex trading and forex trading strategies, if the passion is there.

QuickTrade is here to help you nurture and grow that passion. In conjunction with the distinguished Stock Market College, we can help you get better results with your forex trading endeavours, so that you can achieve your financial goals quicker.

Let’s look at a quick guide here, on the kinds of forex trading strategies out there, and some features you’ll get on the MetaTrader 5 platform, when you sign up.

Discover forex trading strategies

Successful forex trading hinges on sound forex trading strategies.
With QuickTrade and the Stock Market College, you’ll learn how to set a plan in place – that’ll include knowing your risk level, your methodology, and the evaluation criteria you’ll need to establish your portfolio.
These are the most effective forex trading strategies:

Forex trading strategies

Forex scalping

Scalping is a short-term strategy where a savvy trader attempts to make profits out of small price movements on the market. It’s a fleeting technique, where scalpers buy and sell foreign currency pairs, only holding them for a matter of seconds, minutes at most, before selling.

Day trading

Day trading is a strategy where a trader buys and sells foreign exchange within the same day. This strategy is effective in avoiding any risks or negative price gaps that may come about between one trading day and the next.

Swing trading

The strategy of swing trading is anchored in attempting to capture short- to medium-term gains in foreign exchange. Whereas scalping and day trading are both dynamic and fast-paced in their executions, in swing trading financial instruments are traded over a period of days, even weeks. Market movement data is vital here, as traders need to know how to conduct technical analysis, in order to pinpoint opportunities.

Position trading

The longest termed of all the trading strategies, position trading is basically the hold-out for a big money movement. This means that a trader will deliberately hold out on selling a foreign exchange instrument for weeks, and even months. Again, market data is vital here – position trading success is born from the ability of the trader to predict market movements, toward that possible big-ticket haul.
These are just basic summaries of the various forex trading strategies. The MetaTrader 5 platform will take you through each of these in detail. Here are some other features you’ll be privy to:

Trade your way to success

Learn how to read the market.

Forex is a dynamic, shifting trade that hinges on a number of external influences like political stability and the global fiscal status. Our MetaTrader 5 platform is the perfect tool for traders who want market analysis on a single, customisable dashboard, with easy-to-understand metrics, and data at your fingertips that will show you how to better your chances at trading success.

Stay on top of the market

Before you invest, though, you need to learn how to understand the market.
The MetaTrader 5 platform will help you get to the know the market through automated analysis that studies data and gives you insight into the lucrative currency pairs for your investment goals. Taking the time to study this vital information, could save you money.

Open a demo account

Here’s how to start:

Step 1 – Create a Profile

Visit QuickTrade and click the CREATE PROFILE button. Complete the form to start the process.

Step 2 – Verify Your Email

We’ll email you instructions on how to verify your profile. Check your inbox.

Step 3 – Client Portal Access

Once you’re verified, we’ll confirm your login details.

Step 4 – Upload Your FICA Documents

Upload a copy of your ID or passport, and a proof of residence so we can ensure FICA compatibility and create your profile for you.

Step 5 – Complete a Q&A Test

We want to know your trading experience and history, just so that we can define the risks associated with trading for your trading skill and experience, and so help you become the investor you want to be.

Step 6 – Verify Your Profile

Then it’ll be up to us to verify and approve your documentation. We’ll let you know when we have, and you can then start trading immediately.

So, those are just some of the types of forex trading strategies, and some of the knowledge you’ll gain on trading properties, from the MetaTrader 5 programme. It’s as easy as filling out a form to get started, and the sooner you do, the sooner you can add ‘trader’ to your skillset.
Do you want to know more on how to start your trading journey? Click here.