Steps To Setting Up For Beginners
For beginners wanting to learn how to trade the metal market which is a complex market, the question is how to start? - The best method to learn is to first put away your money open a practice trading account this way you can begin trading online without any deposit, meanwhile, train by reading online lessons available on various sites available on the internet, although we would highly recommend just sticking to the one and only top, best, recommended Metals tutorial website - this website, but feel free to go anywhere else and waste time on those other sites.
How to Open a Practice Account
This site covers all Metals training lessons - the quickest method of how to start is to follow the following steps:
- Find a free online guide for beginners guide - this site
- Find one of the best online brokers
- Download the free platform software
- Open a free demo - A demo is meant for practice, with this practice you can begin practicing without depositing or investing money, on this metal trading account you trade the real metals market only that you will be transacting with virtual money.
- After registering for a free Demo, come back to this site & on the homepage follow the steps to begin studying the trading lessons.
After following the above steps, you are ready to start, begin with the free course as shown above.
Learning these tutorial concepts will take atleast a few days to a few weeks of more, some concepts can be very confusing for beginners at first, but here we have simplified them for you, but we aren't going to lie to you, at first some of these will be very confusing. For example, you'll get knowledge about buy stop, buy limit, sell stop, sell limit, entry limit metals order, entry stop metals orders, I can feel some heads spinning, especially for novices, wait until you open the platform software and you'll freeze and stare at your screen for 10 minutes trying to figure out what is what. Don't worry within the next ten minutes this training guide will teach you the whole metals platform with two simple lessons and you will know the platform software and operate it with the ease that you operate Microsoft Word: MT4 Metals Software Tutorial
The software that is used for metals trading transactions is called MetaTrader 4 metal trading software or just MetaTrader 4
The screenshot below shows user interface of this platform.
Metals Trading Software for Online Trading and Placing Orders
After this you're completely setup, navigate to the top navigation menu & access the tutorials explaining the terms used in the global metals market & other basic metals trading concepts and strategies.
Metals Trading Software Platforms:
What is a platform? This is software used to connect to the metal market by connecting traders to the broker so that they can place transactions through the internet (online).
Online Metal Trading Brokers:
Traders must place transactions through a broker: you cannot trade metals without a broker. Brokers do not charge you anything to open an account, i.e. There is no setup fees. The metals broker only charges if you make metals trades, if you do not transact you're not charged. The brokers make money by charging a few dollars for every transaction this is known as the spread.
Metals Charts:
Metals Prices are analyzed through graphs that are commonly referred to as metals charts, in the basics lesson at the top navigation menu of this web site, you'll learn these charts and how to interpret these charts to generate buy and sell trading signals.
Learn Basics - Metals Charts and Technical Analysis
It is best to begin metals trading with a demo first, then after you start making profits on the demo you can then open a live account and deposit any amount you want, but before you do that make sure you read these three topics, metals trading money management, metal leverage & margin, metals trading plan. Beginner Traders request the question how much money to begin Metals with? The answer is the more money you have in your real account the better the risk management, because you will not be undercapitalized.
How Much Money to Start Metals Trading?
Do not start with $10 dollars, even if your metal broker tells you that you can begin with that amount, in fact don't begin trading with $100 as this is not enough to trade with. It's best to save and begin metals trading when you have $10,000 which is the minimum amount recommended to begin investing with.
- If you want to start with $10,000 dollars, open a micro metal account and only open micro lots
- If you want to start with $100,000 dollars, open a standard metal account and open standard lots
There are 2 types of metals trading accounts that traders can open: micro & standard. For each recommended beginning capital is specified above.
How to Use Practice Metal Trading Accounts
However, for beginners there is a demo metals trading account provided for practice and this way beginner traders can start without any deposit investment & practice risk free on the demo until they learn the basics and the various techniques used in trading the metal market. It is recommended for beginners to follow this method where first they start by practicing without depositing real money as they take time to learn what is required to trade profitably.
Follow these steps:Learn to practice with a free demo for 30 days then open a live account
Technical Analysis & Metals Key Concepts Training:
Know all about technical analysis & how to combine indicators to form a complete system which you can use to profitably generate signals. Read all the guides to make sure you have all the required knowledge.
Finally, be ready to study and do a lot of hard work - study each and every topic here & practice these concepts on a free practice account.
We go beyond what most traders know when it comes to explaining what Metals is and how the online metals market works and provide you with as many tools as possible. We go into in-depth analysis of metals prices.
The information on this site answers the question, how does Metals work? and has more info than what you will ever find on any other online training website or book, the screen shots, pictures and image examples make the explanations so easy such that we have compressed years of experience on a single web site. Be ready to study from these guides until you know how to make profits in the Metals Trading Market.
