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Forex Trading Beginner Guide

Forex trading involves buying and selling currency pairs to make a profit. Beginners should set up the MetaTrader app, understand basic terms like pip and lot size, and practice strategies using demo accounts before trading real money. Caution is advised to start with small amounts and low lot sizes to minimize risk.

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8 views2 pages

Forex Trading Beginner Guide

Forex trading involves buying and selling currency pairs to make a profit. Beginners should set up the MetaTrader app, understand basic terms like pip and lot size, and practice strategies using demo accounts before trading real money. Caution is advised to start with small amounts and low lot sizes to minimize risk.

Uploaded by

a60287889
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Forex Trading Beginner Guide

1. What is Forex Trading?

Forex (Foreign Exchange) trading is the buying and selling of currencies to earn a profit. You trade in pairs

like EUR/USD or GBP/JPY. Profit is made when prices move in your favor.

2. MetaTrader 4 / 5 App Setup

Step 1: Download MT4 or MT5 from Play Store or App Store.

Step 2: Choose 'Start without registration' for demo.

Step 3: Practice using fake money to learn the app.

3. Basic Forex Terms

- Pip: Smallest price move (0.0001)

- Lot Size: 0.01 (micro), 0.1 (mini), 1 (standard)

- Leverage: Allows bigger trades (e.g. 1:100)

- Spread: Difference between buy and sell price

- SL/TP: Stop Loss and Take Profit to limit loss/gain

4. Simple Strategy to Start

- Use Moving Averages (MA) to find trend.

- RSI below 30 = buy, above 70 = sell.

- Support/Resistance: Buy near support, sell near resistance.

5. Practice on Demo First

Use demo account until you understand:

- When to buy/sell

- How to use SL/TP

- How indicators work

6. Real Trading Caution


Forex Trading Beginner Guide

Start with small money (Rs. 1000-Rs. 5000). Use low lot size (0.01). Never risk full amount. Trade safely.

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