Saturday 23rd of September 2017

Trading Steps

First steps


  • Learn and understand the basics of forex
  • Open a Forex demo account and practice under real conditions
  • Invest real money after long-term success

1. Learn and understand the basics of forex

The financial markets and especially the forex market can seem intimidating to many beginners due to the complexity and the global interactions. Varengold helps you to be optimally prepared for the trading with currencies and to become a successful trader geared to long-term profitability.
 
First of all you should try to learn as much as possible about the Forex market and the trading of CFDs. Therefore, beginners should read the sections "What is forex trading?, "Why forex trading?", "What is CFD trading?" to get an insight into the matter. All the necessary information on the principles of trading and how to build a lasting, profitable strategy can be found on this website. Get to know the different chart views, to place a market order, and how to use stop-loss and take-profit to hedge your positions in order to trade more profitably.
 
The most important terms about Forex are explained in our&nbspglossary and ourFAQs answer the frequently asked questions in detail. Through this information, beginners obtain an insight into the world of international stock exchanges and will be provided with the necessary expertise to be one step ahead of other market participants.

2. Open a Forex demo account and practice under real conditions

When you are familiar with the basics and the structure of the Forex market and believe to be ready to trade with foreign currencies, then it is time to implement your gained knowledge from theory into practice. Using a free demo account of Varengold, you can explore the Forex market under real conditions, without having to deposit any money. Learn how to: use the MetaTrader 4 platform, place, delete and modify orders, as well as the opening and closing of positions.
 
The respective software can be very useful for any beginner in Forex trading. MetaTrader 4 helps individuals to evaluate so-called Forex signals correctly. The signals indicate the optimal time to buy or sell currencies. If this moment is exactly met, the profit can be maximized by the investor. The feeling for the right moment and enough patience are the foundations for successful Forex trading.
 
Try different trading strategies and find the right one for you. The completely nonbinding Forex demo account will enable you to develop your abilities without having to take a financial risk. Detailed information about opening a demo account can be found .
 
After the first positive results many beginners enter the real Forex market too early and take an increased risk thereby. Varengold recommends rather being patient and waiting for stable and sustainable results with virtual money. Your newly-gained knowledge plays a crucial role in combination with the ability to include all tools of the platform into your work and the strict adherence of your individual trading strategy. Keep in mind: Practice makes perfect! 

3. Invest real money after long-term success

Only very few investors master the dynamics of currency trading instantly. The vast majority of trading beginners has to gradually learn the rules that exist in the Forex market. This investment in time, however, is worth it because the profit potential of forex trading in general is more than worthwhile. 

Once you were able to achieve stable profits with your demo account over a certain period of time, you should consider creating a live account with real money. But you should only trade with capital, which you can afford to lose, not with money you need for a living, e.g. for your rent. 

A low deposit amount, which you will be able to compensate, makes the exciting transition from a demo to a live account much easier. Our personal consultants will support you around the clock at this critical juncture of your first account opening and answer all questions that may arise. 

 

Quick start guide


 

1 Open an account

Try a DemoOpen live account

Your first step to start trading is to open a demo or live account.

 

2 Set up your platform

Your second step is to download, install and log in to your platform.

 

3 Download your platform

Learn how to download platforms.

Download

 

4 Log in to your platform

Familiarise yourself with the login procedure to access your trading platform

Why GI Partners

Offering some of the tightest spreads and lowest margins across the industry.

  • Providing you with competitive spreads
  • Help you make better-informed trading decisions
  • Excellent products and quality service
  • Providing trading mobile application download
  • Client funds are held in segregated accounts