How to break into the Forex market?

Question

As a complete newbie with a budget of about $1000 what would be the easiest way to learn? From what I understand it's almost 100% automated and there is no real human interaction involved. What do you suggest? I just want to get my feet wet and know that there is potential loss involved with any kind of trading.

Thanks in advance,

Mark

Answer 1

It's simply "nuts" to just break into the FX market. Take a couple of years to learn trading, technical analysis & money management.   The FX brokers are making FX trading look too easy. Then there are adds for "systems" or software that will make you rich.  NONE OF THESE IS REALITY.

Get into FX.... but do it after learning the skill. 96% of all new traders in Forex lose their account in the first 3 months.

This is not an easy way to riches.  You are not going to "win big" because you're a nice person or very smart. It takes years!

BTW: It's easy to find brokers that will open accounts for less than $300.  They tend to be the most costly brokers & eat people up regularly. Take your time. Don't do this now!

Answer 2

If you use an auto system (usually a metatrader EA), there's no human interaction involved. You can also trade by yourself, and decide when to buy or sell.

The best thing you can do is to start by learning how this market works, and practice your skills on a demo account. This way you'll be learning and improving your skills without risking your money.

Answer 3

Just have a look and see what they offer.

You can automate everything and try risk free (money back guarantee). Good Luck.

Answer 4

I found some really great info on forex trading that helped me out when I started. Check it out, http://www.websiteblvd.com/2008/07/succe... hope it helps you too!

Answer 5

Being a successful Forex trader takes a lot of training. Being properly trained in Forex trading is the most important aspect of the Forex market. With Forex training comes profit. Investing in Forex training is great as Forex trading has many benefits and rewards.

With proper trading techniques it can increase your profit no matter what your level of Forex trading. Training with Forex every day or adding more sets may lead to slightly greater gains,  but they might not always pay off and could be a waste of your extra time and effort. To prevent this Forex training is available in various online course, with advanced trading workshops and even one on one training with gurus.  Training is essential in everything that we do in life. Forex training is essential as it can be the difference between success and failure. Proper Forex training is what separates the gurus of Forex trading and the armatures.

What is great about Forex training is despite your location it is accessible to anyone with an internet connection. Online methods of forex training are rapidly becoming popular due to their flexibility that it offers to the user. To become a guru in Forex trading then training is necessary. The gurus all advise that Forex training is necessary for all new users to ensure that success and profit will be guaranteed. By taking some time to learn proper Forex trading then you can become an expert in the trading field.

Forex is not hard at all , and with the proper guidance anyone can make cash in their spare time. Gurus in Forex trading caution who you learn from. As if you acquire improper Forex training to avoid losing money.

Jordan Mcnight only a part time Forex Trader who has started earning major profit in his spare time after starting with forex trading. To find out more information on how he beat the system check out the link below.

http://forex.yourreviewhub.com

Answer 6

as a newbie, getting into forex relying on automated systems is a lot, lot risky.  personal experience is still the key to successful trades.

Forex is a very volatile market and is a very risky investment. you need to get the most information you can get and learn all you need to know before you try to get involve in it.  

for a start, I suggest you Register to this site and Download a Free Forex Ebook . you can also get a hands on, live, one-on-one training.  by making an initial deposit of at least $100.00, which you can also use to trade later, you will be provided a personal Account Service Manager (ASM) with whom you can talk live via phone, email or chat.  you can then take this opportunity to ask everything you want to know about forex.  being an expert forex trader himself, your ASM will be your best resource person. he will even trade along with you so that you will get to familiar yourself about how the real trade is done and give you the tips and tricks you need to know and do to achieve a profitable forex dealing.

Answer 7

Hi there,

There are number of ways you can actually enter into Forex market. Managed accounts or expert advisers are quite good for who those who doesn't have time or whose capital or investment is quite high as they charge high commission.

The basic steps are:

1. Acquire knowledge and concepts.

2. Invest a small amount initially.

3. Gain confidence with profit and encouragement from loss

4. Gradually increase your investment.

5. Learn more on technical tools and indicators and apply them on trades

6. Keep your self updated with market conditions and world economy.

7. Choose a good broker.

I am trading since many years with finexo and found it very good and efficient for small traders like us. I can just suggest your to google all the brokers first and then make a decision.

Answer 8

1.See it is not possible to trade in forex in only $1000

because margin for spot forex Like Euro/Doller is near about

15000$ and on Euro Future is nearli2500$

2.there is no human interaction excepte placing order.

3. Risk are always there in any kind of trading ,see if you are

     making money ,someone is losing that.

Answer 9

I've found great Free software for you, which include all forex trading tools and education ebook.

it's all in one package.

you can download it from: http://www.voocash.com

Good Luck!

Answer 10

I too didn't really know much about forex a few months ago. I still don't know a ton, but I am learning. It's just a lot of information to read and study and many people spend years on it. I didn't want to wait. So I tried some automated software that would do the buying and selling for me. I honestly will tell you right now, that out of the three I've automated forex systems I've tried. Forex Tracer is the best. I actually made money, other than breaking even or losing money like I did with a couple others. If you want to find out more info check out the link below.