1.
How to Become a Forex Trader

2.
Index
1. How to Become a Forex Trader
2. Steps to becoming a Forex trader
1 Trading Capital
2. Using A Demo Account
3. How to Practice FX Trading Before Trading Live
4. How Trend Traders Find Profit Targets on Their Trade
5. Are You on the Right Track With Your Trading?

3.
How to Become a Forex Trader
 Anyone with a small amount of money and
patience can become forex traders.
 The skill and patience required to become a
successful or profitable trader require limiting
losses while identifying good trade setups with a
positive risk: reward set up.

4.
 Despite the ease of getting into the business,
there are some steps you should follow.
 A quick entrance into the forex trading can lead to
the poor house very quickly.

5.
1 Trading Capital
 Forex traders do not need to have a set of capital
to trade due to being able to trade on margin.
 The average Forex broker requires at least $300
to open the account and start trading.
 A good rule of thumb is to have at least $1000 to
open a mini account, preferably $2000.

6.
 The number might sound a little high for the
beginners, but this allows you to trade with a bit
of a buffer in case of losses.
 You are not looking to risk the entire amount but
rather just have a higher cushion so that you are
not forced out of the trade, which can happen
with smaller balances.

7.
2. Using A Demo Account
 A forex trading demo account is a trading account
with the monopoly money in it that is connected
to the live market.
 Trades could be placed in a real time and
represent what would be true losses and gains if
the money were real.

8.
 Before you put the single penny on the line with
trading, you will need some practice.
 A demo account gives you the ability to practice
trading without the pressure.

9.
3 How to Practice FX Trading
Before Trading Live
 Aside from practising, you may want to seek
some trading advice from a forex books or forex
trainer.
 As a trader, you need to develop your trading
style and trading ideas, but in the beginning, it
can be important to have some professional
direction and guidance.
 Forex is very daunting in the early days, and
some guidance can help.

10.
4. How Trend Traders Find Profit
Targets on Their Trade
 Before you commit to live trading and money on
the line, you should be able to trade on your
demo account or with the paper trading profitably.
 Your track record should be more than a few
weeks, at least three months, preferably six
months.

11.
 It will be tough to refrain from trading after you
make those first few profitable trades, but the
experience counts in forex trading.
 It's something that you cannot work around, and
you have to get it the old-fashioned way, hard
work.

12.
5. Are You on the Right Track With
Your Trading?
 After practising for the several months, doing a
little training and getting some forex education
and becoming consistently profitable, its time to
start making live trades.
 You may find that it's a slightly different to have
actual money on the line, but if you stick to same
practices you used to be profitable while trading
demo account, you will be successful.