5

Trade with
Live account

To start trading on a Live account, the most important thing is to choose a broker, with everything else (what documents are needed, how to pass verification, etc) the broker will help you and assist during the process of opening. Next, during your active trading you will need to constantly monitor financial and economic news and engage in self-education.

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5.1 Select a broker

When selecting a broker, you need to take into account the following criteria: the broker’s reliability, profitability (each broker has commissions, there are hidden commissions), and they all have different functionality (each broker provides its clients with different features, the ability to work with different trading instruments, access on different platforms, etc.), and convenience (how convenient it is to work with brokers for you, the availability of support in your language, in your time zone, how high-quality and convenient software tools provide Trader, etc.) The comparison table will help.

Choose a Broker

Selection of all important data about Forex brokers in one place.

How to Choose

6 Crucial Things to Consider When Choosing a Forex Broker.

Selecting Tips

How to Choose a Forex Broker: Everything You Need to Know.

5.2 Constant learning and following the economy

Constantly monitor events, changes in the market, in the world, news of large companies, etc. Financial news, a calendar of economic events, market condition tables will help you with this, and also you can get the information from articles and books.

Economic News

The thread of select important events separated from all the media noise around.

Yahoo Finance

One of the best information portals, all news and events in one place. Should be your daily read.

BabyPips

Description: Great Forex trading courses which have simple narrative and absolutely free.

Monitor Forex

Detailed overview of global markets performance, including change value, Open, High, Low and Close values etc.

Monitor Stocks

Detailed overview of global markets performance, including change value, Open, High, Low and Close values etc.

Monitor Crypto

Most of the available crypto assets, sorted based on the market capitalization.

5.3 Monitor and analyze your trading

To learn and analyse your trading, you will require some specific analytics tools and services. Also a trading journal will be indispensable, where you should write comments on each transaction and then analyze the planned expectations and results

MyFxBook

Online automated analytical tool for your forex trading account and a social forex community first of its kind.

PsyQuation

Connect your live or demo account for free and get ultimate analytics on your trades.

Technical analysis

Learn about technical analysis for Forex trading as more advanced trading approach.

6. Become
a pro trader

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