How to trade forex?
Question:
Answer:
The particular website linked at the bottom specializes in giving novice/beginner forex-traders helpful fundamental information regarding large and detailed introductions on foreign exchange, forex-trading tips, concepts, fraud warning info, trading safety info and also excellent, detailed information on the Major currencies of the world and the Central Banks that go with it.
There is also an article written especially for novice traders, where a more advanced trader is writing about his experiences in forex-trading during one day. All these articles are for novices and beginners, but the very first link at the top of the list below is especially written for novices. On the home-page of the website, it will show the latest news on economies and forextrading and may help you while you trade.
I find this site particularly helpful since im still learning too! hope this helps!
I'll trade you my Jeter rookie card for your Forex.
Forex trading is not unlike shares trading, if not easier. To start trading you can do the following :
Opening An Account :
1. Open an account with a broker eg, FXCM
2. Sign up, put in deposit.
3. If you have not done trading before, create a demo account
4. Download the trading portal first [free]
5. try it out.
Making Sense of the Trade :
1. Pick a currency. One of the majors. eg USD/YEN, EUR?DLR, GBP/DLR
2. Look at all if you want, but pick one to trade in the beginning and see how the charts move.
3. FXCM has a free chart services. You can use that.
4. Prices moves in pattern. Read some technical analysis books. [candle stick, martin pring, elliot waves]
How To Trade :
The portal will give you list of currencies.
pick one
Click on the currency
It will ask you "Buy or sell"..."How many".
And thats it.
You have open a position
You make when you sell at a higher price or buy back at a lower price.
www.freedomrocks.com/19768. also gftforex which supports freedomrocks/19768. Interbankfx and oneworldforex .coms are also places you can get information about the forex market. There are hundreds of places to get information but only freedomrocks/19768 has the way to actually make money.
here is everything you need to know http://www.forexaim.com
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