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Find out your markets

Find out about the markets and decide how you want to trade

forex trading

Start by reading up on how the stock market works and learn about the different markets available. A good starting point for new traders is to study the different trading styles. These options could include:

Day trading is when a day trader places a trade that they want to capitalise on the price movement of a stock on the same day that they place the trade, rather than looking to execute a trade overnight.

Scalping is a very fast paced style of trading where you have to get in and out of a trade very quickly. You take smaller profits with the aim of doing this a few times to add up to larger sums of money.

On the other hand, swing trading is generally defined as short-term trading that lasts longer than a day and less than a month.

Learning a style that suits your psychology and skills is crucial. For example, if you are an over-thinker, then you are probably not best suited to fast scalping and would rather engage in daily position trading or swing trading.

Practice, practice, practice

Practicing strategies in Exness mt4 and learning to control risk over and over again are two of the most important aspects of being successful in the world of stock trading.

If you want to get into trading but don't feel like an expert, it is crucial to practice on a simulator before you start betting real money.

Most stock brokers have a proprietary simulator platform built by traders for traders. You have all the tools you need to learn how to trade, including hotkeys, advanced charting, Level 2 and much more!

deveoping strategy

Decide on a broker

Your choice of broker should be influenced by the type of stock trader you are and how much money you will be trading with. No single brokerage firm is good for all traders, so it is always a wise decision to determine your trading style before you start trading.

However, there are some general things you need to consider when choosing a broker:

Once you have selected the broker you will work with, it is time to open a brokerage account with them. You can usually open an account online in about 10 minutes, provided you have all your documents and information to hand.