How to start with forex

Posted by Deb | Guest Post | Sunday 12 August 2012 12:29 am

You might be wondering how to start with forex. For a long time now, you might be considering the idea of trading forex, because someone (an experienced forex trader, no doubt) has talked to you about how the forex markets are open almost continuously, somewhere or the world. Or how there forex market is enormously liquid, and trading pretty much any currency in the world is simple, or how the volatility of the market can generate amazing profits. Maybe you’ve heard that you can leverage your trading. Maybe you’ve heard all these things and wondered if you couldn’t be a forex trader yourself.

Well, the first step is the hardest, and that is developing the self-confidence that will allow you to look in the mirror and say to yourself, “Trade forex? I can do that!” Done that part? Good, then you’re on your way to becoming a forex trader. As long as you’ve got the will, desire and self-confidence (three very important intangibles) then the only tangible things you’ll need to start forex trading are cash and a computer. Got those, too? Good, you’re headed in the right direction.

First things first: in order to understand the market and to learn forex trading you need to find yourself a trading platform. There are hundreds of them out there in the cyber world, and not all of them are good. Spend a little time to investigate a few that have come highly recommended, either by peers or by the forex experts, and find the one that fits your needs best.

What are your needs? Consider how much money you have to invest, which will help you discern the type of account you want. Consider whether you need a forex platform that gives you access from any computer you might be working on (some are only downloadable platforms); a web-based platform will give you the ability to monitor your status, check market conditions, or change the terms on a trade. Consider how readily you can reach customer service if you need a little hand-holding. Consider the types of extras that the platform provides; if you’re a math geek you will appreciate good charting capability.

Once you’ve found a trading platform that works for you, register as a user, and initiate your trading account deposit. With very little fanfare, you’re good to go. So you don’t have to wonder any longer how to start with forex trading, because truly, it’s as easy as that!

Share

4 Comments »

  1. Comment by Rusty from anti snore remedies — September 9, 2012 @ 5:41 pm

    Thanks for ones marvelous posting! I truly enjoyed reading it, you may be a
    great author. I will make sure to bookmark your blog and definitely will come back in
    the foreseeable future. I want to encourage you to ultimately continue your great job, have a nice
    holiday weekend!
    Rusty@anti snore remedies recently posted..anti snore remedies

  2. Comment by Joey from forex affiliates program — August 23, 2013 @ 11:41 pm

    Making a decision on which broker to use is personal for each trader. Some brokers offer certain options that some traders will thrive on, while other traders will hate the broker for those same options. It is important to review and compare the options of each broker closely and choose the one that makes you feel most comfortable.
    Joey@forex affiliates program recently posted..Forex-Metal Offers Free Forex VPS for Active Traders

  3. Comment by jay from forex affiliate programs — August 25, 2013 @ 5:41 pm

    Thanks for sharing this information about how to start in forex trading. I learn a lot from your post
    jay@forex affiliate programs recently posted..Forex-Metal Offers Free Forex VPS for Active Traders

  4. Comment by Chu from German Forex — December 14, 2013 @ 10:12 pm

    Simply desire to say your article is as surprising. The clarity
    in your post is just nice and i can assume you are
    an expert on this subject. Fine with your permission let me to grab your
    feed to keep updated with forthcoming post. Thanks a million and please keep
    up the gratifying work.
    Chu@German Forex recently posted..German Forex

RSS feed for comments on this post. TrackBack URI

Leave a comment

CommentLuv badge

This site uses KeywordLuv. Enter YourName@YourKeywords in the Name field to take advantage.