The first step : Demo Time.

Basic but important info about trading Forex

The first step : Demo Time.

Postby Paul » Tue Feb 24, 2015 2:49 pm

Where you are now.
You have probably heard about trading Forex through a friend or a spam email promising that you can turn $100 into many thousands in a very short period of time.
(this claim by the way is bs)
So your interest got perked.

The very first thing you need to do after you have figured out what exactly forex trading is , is to get a demo account running from a broker such as FXCM or IBFX.

A demo account is one where you are given a certain amount of "play" money so you can practice your trading.

The first time you start your trading platform you will normally see something like this :

freshinstall.jpg


Most of what you see here will be useless for you as a new trader so the first thing you need to to is clean it all up by clicking all the X's so it looks like this:

freshinstallclean.jpg


Next step is to setup a blank/default template.
so click file . new chart and click on EURUSD

add chart.jpg


colors.jpg


next click the common tab and uncheck the show grid box. then click ok .

common.jpg


You will now see yout chart like this:

chart1.jpg


Once you have clicked the 2 buttons as show in the picture above . Right click anywhere on the chart , put your mouse over Template , then click save template.

Save the template as default.tpl

Now when ever you open a chart it will open with a nice clean look.
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Paul
 
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