Fri 6 Feb 2009
Online Forex Trading – How To Get Started Trading The Forex Markets?
Posted by echan76 under Personal Finance
[3] Comments
mann asked:
Keen on knowing the basic points, tips and systems to get started (and move ahead) with online forex trading.
Keen on knowing the basic points, tips and systems to get started (and move ahead) with online forex trading.
Its a big market. More money is traded in a day in Forex then all US stock markets combined in a month.
Currency is a future or a commodity like oil. You want to study history, you can pretty much ignore the stock market. You will want to find patterns. A hurricane is headed for New Orleans, what do you do? Dollar will fall, why? Because oil is traded in the dollar, oil will go up dollar will fall. Its what speculators do alol day. Drought in Kansas, what with the dollar do compared to Canadian?
Drought in Kansas, Hurricane in the Gulf, and Mad Cow breaks out in Nebraska. How does that affect the the dollar against Yen? Which side do you want?
You study history to know. Good Luck, its fun but only play with money you can lose.
hello – I would go to the website to learn all about it
good luck
1. Open a demo account.
2. Practise on it for a month or two.
3. Get thoroughly acquainted with the platform, system and methods.
4. Try different demo acounts with forex companies online.
5. After you’ve trained with your demo account, move on to a real account for live trading.
6. Choose a good broker (eg InterbankFX) supporting the Meta Trader platform. Ask for one that offers a good leverage. It’s your key to profiting from the forex markets.