The purpose of forex trading itself is none other than estimating the direction of price changes, so you can profit from the difference between buying and selling values. However, learning forex trading is not as easy as imagined. This is evident from most people who are just learning forex in MyFxbook. They will quickly go bankrupt. Therefore, how to start forex trading for beginners? There are several tips to learn forex trading that can be mastered in a short time.
1. Understand Common Terms Used for Forex Trading
Before making any investment, you need to understand the various terms used in the trading process. Some general terms to know are:
A pip is the change in value between two currencies, referring to 4 decimal places behind the comma in the exchange rate. If EUR/USD is at 1.1205 and then moves to 1.1206, the difference of 0.0001 is 1 pip.…