How can i get into forex trading?
Question:
Answer:
Using the Mtpredictor's technical analysis Elliot Wave Principle software, Bsmtprediction provides Forex Traders with FREE access to AUD/USD, EUR/GBP, GBP/USD, EUR/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY & USD/JPY daily currency forecasts through this website. At Any Time / Any Day (we'll straight away post the signals here in real-time if there's any triggered) 1 hour, 4 hours & daily time frame forecasts are published on this site. The predictions are good from the moment they are published until either it reached the take profit target, hitted the stop loss or another new prediction of the same currency & timeframe unveils on the same / following day. Essentially, the prices shown are for an unknown period.. That's why we encourage you to subscribe our FREE Google Groups newsletter to get the latest signal updates sent to your e-mail from the very 1st minute it surfaces the net..
Open an account with a futures broker. Start trading.
Starrt with at least $5,000, since you will need an margin & options commmodity account. Learn what the base forex futures contracts are - size, currencies, expiration dates. Then learn how their options work: size, expirations, puts & calls.
Pick a few contracts and try trading on paper. Then try a few for real. After you lose at least half your money you may have learned enough tto keep from losing the rest. I'm not kidding - it takes several thousand $ to train a person in this arena. Some people require more $ to learn.
Do not take one of those hyped courses on "How to make $thousands in FOREX!" You will lose the money for the school and then more later on.
You might have more fun at the casino, and do just as well. And I am a registered commodities broker, I might add - not just somebody who got burned.
CAVEAT EMPTOR. dude. Good luck.
Go here for free info and also
get on the list for training.
You can also contact Aden Rusfeldt
and ask him to become your mentor.
Hey Champ, how is it going ? Forex is definitely a challenging and mind stimulating game. Although sometimes the lines between trading, fishing and gambling is blurred. What start off as trading could very well end up as gambling especially when you just want to get back at the market after losing trades. But there is nothing like trying it yourself. But I do suggest open a mini-acc and a demo acct first. For example with FXCM. There is a video clip here and some books to get you started :
http://www.geocities.com/lcming/forexboo...
More Related Questions & Answers...