1. As a beginner that wants to learn to trade, you first have to raise sufficient capital. Rather than spend all this capital on a broker, especially when you don’t know how to trade, put it first into education. If you learn to trade, it is highly unlikely you will lose all your capital. Most traders who don’t know how to trade almost always end up giving their hard earned money to the market. Learning to trade before risking money is very crucial to long term trading success.
2. Research a good education company that will teach you the important basics, especially when you are thinking learning to trade Forex. If you learn to trade Forex, you will at least have the grounding to tackle other markets. Everyone needs practice and learning to trade forex online is good practice. There are many educators that are good at teaching traders how to trade forex, there are also a lot who are bad. I had a great experience with the Traders Club in London that offer long term support and they it easy for you to really learn how to trade the markets.
3. It is important you also open account with a good broker. Most Forex brokers will tell you that they will you learn to trade if you open an account. This is unlikely to help you as the broker has no incentive to teach you how to trade Forex, he prefers you lose so he can profit from your margin. A good education provider will teach you how to trade Forex and also how brokers themselves trade the markets. This is important as brokers can easily cost you money if you are not careful.
4. Read a lot of books on learning to trade markets and how to trade Forex. The only way you learn to trade properly is if you are willing to expand your knowledge continuously. The first steps to learning to trade online is following the guys who have done it. Market Wizards is a great book as well as Reminiscences of a Stock Operator. While they don’t teach you how to trade, they will show you practical steps on how to trade markets.
5. Understanding the markets are largely about value is a large part of your journey as you learn to trade. A lot of traders as they get to grips with how to trade focus solely on price action. This not the best approach. If you went to another country and someone sold you oranges at $5, you are likely to buy them as you have no perception of value. So my advice is simply, get to grips with value and you will be very close to learning how to trade markets.