As a full-time Forex trader for the last few years and throughout all the time I have spent learning and trading Forex, I have come across hundreds of novice Forex traders wanting to know: "How to Trade Forex". If have been considering learning to trade Forex but don't know where to start - this Beginner's Guide to Forex should help.
1) Find a Forex Education Provider - A wise friend once taught me, the difference between gambling and investing is EDUCATION. Learn everything you can about Forex. Learn what makes the market move and how to anticipate those moves. Find a reliable Education source with your best interest in mind. Start learning, and never stop.
2) Find a Forex Broker - There are literally hundreds of Forex brokers and many are NOT worth your time. Forex brokers come in all shapes and sizes. The Forex broker you choose should depending on your Forex Trading Strategy, your place of legal residence, and your risk appetite. Research everything you can about Forex brokers. Find a source that will teach you the difference between the brokers and help you choose the RIGHT broker for you.
3) Find a Forex Trading System - This is actually easier than you may think. There are plenty of profitable systems available for free on line. Ask around and you will soon find one that fits your trading personality.
4) Practice - Open a demo account at the broker of your choice and practice your Forex Trading System. Use what you learned in your Forex classes to improve your system and make it your own. Do NOT trade live money until you have successfully traded your system on a demo account for a least a couple of months.
5) Continue Learning - Even when you are no longer a beginner, it is important to continually learn and improve. The day you stop learning and improving is the day you stop making money in Forex.
Echo FX prides itself on being an experienced, honest, disciplined, and emotion-free Forex Account Manager and quality Forex Trading Education provider. For more information about the company, their Managed Forex Account Programs, or Forex Trading preparation solutions - visit http://www.echocurrency.com (Forex Managed Account) and http://www.AcademyofForex.com (Forex Education) |
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