Thread: What is the best way to get started with forex

What is the best way to get started with forex

Have you checked out infxed.com
I just took a course with them online it took 10 weeks but now i trade fulltime and making money.
I also purchased there ebook its worth the money trust me.
www.intfxed.com is there website
check it out

So I'll lay it out for you:

No' 1- Practice using Automated Forex Trading Software: A very important tool in the Forex Traders Toolbox.

Not only do you get Demo accounts to practice on before you get your feet wet, but these little robots which scour complex and ever changing Forex Currency Trading Markets, will run 24/7, scalping trades and getting you pips day and night, whilst you sleep, shop or explore other markets.

No' 2- Get yourself a Bee's Knee's Broker: There are many average Joe Brokers on the market, some definite scammers and a sprinkling of seasoned Pro's.

Do your homework, visit forums, write a thread asking this exact question. Check who responds, see how many posts they have, see when they joined. If they have over a 1000 posts chances are they know what they're on about and there advice on who they recommend will probably be invaluable.

No' 3- Never rely on Guess Work and Get Out when you Should: With Automated Trading Software Systems this doesn't apply as there is no human subjectiveness involved as it simply sticks to the margins in place.
When you trade on your own though you MUST apply discipline or you will be on the road to the Forex Newbie Graveyard sooner than you can say "Mumma Meeah!"

No' 4- Follow these 3 Steps with Cold Hearted Discipline: Tell yourself that Forex Currency Trading is a business, just like any other business- it takes time, but if you follow the 3 Steps above:
Practice on your Automated Trading Software and practice like mad on a demo account.

Get yourself the Mother of all Brokers, one that comes highly recommended from more than 3 sources

and..
Never believe you can Guess the market forces or how the trade will shape and you have what it takes Kick Ass in this business.
Cheers & Happy Trading!

Jen, awesome summary. Very impressive points!

I agree with you Jenforex
Very nicely explained.

The best way to get started with forex trading is by reading books or reading as many articles on forex through net is the best way to enhance forex information and later you can apply those information while trading live.

Originally Posted by Anne09

The best way to get started with forex trading is by reading books or reading as many articles on forex through net is the best way to enhance forex information and later you can apply those information while trading live.

good way to start with forex and i want to add try the demo second thing after reading book and articles

Originally Posted by daniellefr

Jen, awesome summary. Very impressive points!

Originally Posted by finvik

I agree with you Jenforex
Very nicely explained.

Thank you so much friends, I believe anything you do in life without training will most probably end in failure. Same goes for forex trading. Most of the people lose money in forex trading because they don’t bother to get the right education when they start trading.

One of the best ways to check out Forex trading and see if it is truly something that you like and feel that you can make money in is to open a Forex demo account. This strategy allows you to view the account online and see how the account would perform if it were a real account. It's kind of like how the military plays war games where they can test strategies without losing any soldiers. In the same way, you can use a demo account to make "pretend" purchases and sells just as if you were really doing them. Through the wonders of modern technology, the software used for these accounts brings realism to the account and shows whether you would have profited or lost at the end of your trading day....ok hopely this guide usefull for you.tq

Originally Posted by master_mark

I agree with this
The theoric part is as important as the practical one.

PS: Do not pay for e-books because there are enough for free, specially if you’ve never tried one before. If you are curious, go to my broker ac-markets web site, they have free web tools to download.

The good thing about forex trading is that you can learn it risk free. Yes, risk free! All you need to do is open a demo account with any forex broker. You can do that in five minutes on the internet and start with forex trading. On the demo account, you will be provided with real time data that you can use to make buy/sell decisions but you will be using fake or virtual money. Since you are not using your real money, you are not going to lose even a single cent. If you want to play tennis you need to practice. Same with forex trading, with a practice of a few weeks you will be confidant enough to start live trading.

A few weeks???Are you sure that’s enough? I would say at least 6 months…