As this will be a basic guide for the Forex beginners in forex trading. Most of the time the forex trader at first opens a account in demo with any brokers available and trade with the virtual money for some period. He execute trade in that and learn his strategy by trading in that demo account.
The biggest mistake most of them does his they will start with a High opened account what I suggest is open a A/c from 100$ and choose leverage 100 max so that they don’t blow up the account in one go. In this way he can execute a lot of trades any way he will be not allowed to trade 1 lot because of lesser investment.
What really should Matter his he should try is strategy and make it run successful that is prior goal.
When he get enough confidence in his trading style then slowly he have to move towards opening micro account say like 100$ select the same leverage and see to it that he don’t blow up the account as he as traded in demo account already.
Each trade should have, take-profit and stop-loss in every trade for beginner.
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