By Mirjana Pupovac
Each profession needs its fair share of practice, expertise and knowledge to be able to succeed in the field. Without holding the any credentials, you would find it extremely difficult to be employed in full or part time work; making it extremely difficult to supplement your income in an adequate way. Trading currency pairs online might seem like another job that requires you to have previous experience or heavy training in the field, suitable only for people in finance and banking. The truth is, you will need some training on how to trade forex, however, it isn’t as pigeonholed as you might think.
How to trade forex without any experience?
In Forex trading you don’t necessarily need be from a finance background to get ahead in the game. There are literally thousands of traders out there from all walks of life, in countries across the globe; most of which began trading with a little more than 48 hours of self-training. All it would take is dedication and the ability to learn quickly, for you to be able to begin your trading career. There are so many free resources out there, written by experts, ready to teach you how to trade forex; all you have to do is take the opportunity.
How I got started in forex
I have a full time office job, that has nothing to do with trading or finance. I never even thought that I could become a trader, because it all looked so foreign to me. However, one day a colleague of mine started talking about online currency trading and how he had been trading for around 6 weeks. I listened to him talk, without fully understanding what it was all about, until he sent me some information online. So I read up on trading currency pairs and started to search for a good and reputable broker to begin on a small scale. I opened a free demo account at first, and practised there, as well as reading expert tutorials and tips on my brokers website. I basically fully trained myself how to trade within 2 weeks. That was a couple of years ago now, and I have to say, that I still enjoy trading. It has its ups and downs, you don’t always win, but if you learn how to trade properly, you don’t end up losing much either!
Don’t limit yourself
There is an abundance of expert knowledge out there, all for free; you should take the time to read on how to trade forex, or even watch videos that long time traders have made to help you out.
Always start out with a demo account. This way you will be sure that you will have some experience in how trading works and that you are comfortable with the trading platform software that you have chosen.
Do take courses or tutorials but make sure that they don’t cost you! There are of course hundreds of sites out there offering expensive “intense” training courses, but it’s all for nothing. Absolutely every that you will need to learn, will be available to you, online and for free.
Don’t fall for the millionaires in months’ garble. If anyone promises you that you will become a millionaire just like that, then stop reading immediately. There are many scams out there trying to get you to fork over money, for things you can learn for free. You won’t become a millionaire trading currency, but you could earn a good living or even a good supplemental income; if you train yourself and stick to the basics of what your broker teaches you.