Forex trading?
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Answer:
Like everyone else has said you need to take your time when deciding to trade the Forex market. That being said, if you are willing to learn how to trade it properly and are patient you can make money even with a small ($5000) account.
You will need to set strict money management rules, that is how much to place on each trade, how much you are willing to lose on each trade and how much profit you are happy to take on each trade.
Greed can do funny things and a winning trade can end up a loosing trade.
Follow these 10 steps
1. Get access to and read as much free information as possible
2. Download free Forex Charts
3. Take some Forex courses
4. Test and trial a couple of different forex strategies to determine which is best for your personality. Don’t rush this stage as you will really get to know yourself, how you react to loss, greed, fear and you will come to an understanding of how much time you really want to commit to your trading.
5. Open a demo account with an online forex broker, and start with a conservative amount in your account between $5000 and $10,000.
6. Simulator trade for between about 3 months
7. Open a Mini-Forex Account and fund with a conservative amount of money, between $300 - $2000.
8. Build your confidence by taking small amounts from the market consistently.
9. Throughout this whole process develop a trading plan that will consist of
a. What size your real trading account will be
b. How much you will trade each time
c. What timeframes you will trade
d. How much you will risk each trade
10. Trading for Real - Start trading a real account and continue to monitor and track your progress, recognising that you are a continual learner.
You can learn more from the free course at http://www.my-forex-training.com/freecou...
Well, that's a new boom in retail Forex and as with all the booms - the providers of the retail Forex trading services are the biggest winners in this game. Why? Because they earn money on each trade's spread. There are many things that these companies would not tell you about. You'll find it a very difficult and a stressful way to earn/invest money. To use Forex market as an investment instrument you'd need to put a lot of money on the table. Otherwise you'd be out of the game in no time. So, if you want to try with, let's say 5,000-10,000 US, you got to realize that all these money are at big risk and might be gone very quickly. As this market is very volatile, you'll need to keep much more money in the account to stay in the long trades. So if you have small account like 5,000-10,000 US you'd better not to stay in the trade for too long (more than a day). It's so called day trading activity. In short, it's not recommended to get into that business without a knowledge and proved techniques developed by yourself. Don't trust companies pushing you to get started. They make money on you. You just loose them. It is possible to make money in the Forex market using small account. But it would take your time and patience to invest into studding it first and proving your skills by playing with virtual money.
I'm just getting into FOREX trading. A reputable company will tell you;
9 out of ten people that trade FOREX lose their money & give up.
Most FOREX trades are losers.
Get into FX Trading if you're willing to take six months to a year understanding it. There are many ways to learn (Books, online classes etc.) Most FX brokers will let you trade for free on a "Parctice Account". Always remember that results are seldom the same once you start "real" trading.
If you have had some experiance in trading stocks or coomodities. it may be a place for you to get involved.
FX Is the largest trading platform in the world. It is unregulated. Be very very very (very) careful!
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Forex just like other business, high risk if u didn't have patient, huge commitment. It can ruin u up in just one day. So becareful of what u done. ALWAYS HAVE PLAN, when u enter the market, choose the most liquid market (Mostly GPP / USD or JPY )
But always remember you can't win without losses. I ever lost, huge, but never give up. But now i have win a lot
ALWAYS PUT YOUR STOP LOSS AND LIMIT PROFIT ! that how u can survive from viotile market.
If about how much capital u need to deep into forex it depend on how much you want to earn.
If u want a Good start, u can start with $5000 (that wud be enof for starting) but if wud be great with $50.000
find a good broker, or better u handle it yourself
u can try http://www.marketiva.com/?gid=5017...
Lean about technical analysis, CANDLE BAR n some indicator. [Stochastic, MACD, Moving Average n Par Sars wud be much enough
contact me [ xrudylimx@yahoo.com] if u need some advice
regards
FXCM.com is helping for beginner users like you. have a look at there
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