https://youtu.be/QYcje0R8484?si=6NlLvZsT_qTLF1Ia

What is trading? Is it something abstract out of nowhere?

**https://youtu.be/mUvB89DMtww ⇒ Depth of Market**

What is trading?

How to get started?

  1. You will need to have some sort of government issued ID to begin with. Can be passports, Driving licences or Nation ID Cards. For people in the region where I am, it is best to have a valid passport as that helps to verify the KYC step in different brokers.
  2. You will need a digital payment solution.
    1. Paypal
    2. TransferWise (Wise)
    3. Payoneer
    4. Bank that support international fund transfers
    5. Skrill / Netteler
    6. Credit/Debit cards
      1. Anything really works if you comply with their regulations. From my country it’s a bit hard to make accounts in some of these
      2. Different brokers have different options

Now what is a broker?

  1. A broker plays as the middlemen between you and the markets. There are different types of brokers which are good for their individual causes.
  2. Anything you want to do will be done through a broker
  3. IC markets, Hugosway, Prosperity4x, Tickmill, exness, XM are some of the brokers I have worked with.
  4. A broker will help you create an account by which you can trade.
  5. Now this is the part where I assume everyone is confused. Where do I even trade? After you have created an account with your broker. They will provide you with credentials to your account before that, this part is important. You will have to select a platform to trade. Such as MT4 or MT5 or ctrader and there are a bunch of other platforms that are used by others. But these are the most used and most efficient among all. I used both. MT4 is for beginners and MT5 is for those individuals who have had some exposure to MT4 and know the basics they can shift to MT5. It just provides an interface to the market for you to trade, you can see charts there.
  6. Next up, seeing charts and market analysis. There are various kinds of market analysis, for technical analysis which comprise of analysis charts and historic data. TradingView is the best and an industry leader.
  7. For news and events you can look up to forex factory or market watch
  8. Start with free trials from prop firms, and build knowledge and then just go for an evaluation test. But I would encourage you to put some skin in the game. Like putting a couple $100 and seeing how far you can go with it. You learn much better by actually performing the real thing.
  9. The more volume you have, the higher the chances you have of making profits. Now some might argue that if you can trade you can start with at least $100. Let’s face it most people don’t have $5000 to start with. And with the volatility of the markets there’s higher chances getting wiped out with a small mistake.
    1. FTMO
    2. My Forex funds
    3. These are some of the firms I have tried myself. There are other options as well.