What is the best way for a beginner to start in forex trading?

Question

I don't want to leave the trading to those managed accounts done by others.

Answer 1

Focus more on fundamentals than technical analysis. Economic news analysis is what moves the markets.

Here is a free site that shows what has happened after economic news releases:

http://www.forexnewspatterns.com

Answer 2

1. Send the FOREX people some money.

2. Buy 100 times that amount in foreign currency on margin.

3. If it goes up enough, sell it for a profit.

4. If it goes down only 15, you lost all your money, repeat steps 1-4 until bankrupt or you understand it is a rippoff.

Answer 3

Hi,

The best way is through education and practice.

First, learn as much as you can at: http://babypips.com/school/

Next, get a demo account and start paper trading.

While you are demo trading, invest in books and courses to learn more about how to trade profitably.

Once you are sufficiently profitable in your demo trading, you can move on to live trading and start making some good money.  :)

Hope this helps!

Answer 4

You could start off with a platform that offers demo accounts and people call you to give you a bit of advice.

Answer 5

Hi Sat Tin,

It is great to hear that you would like to jump into forex trading!  When I started, I found the free newsletter at http://www.forex-trader-basics.us to be very helpful.  Good luck to you!

Answer 6

In the past if you want to trade forex yourself then you'll have to learn all the basics and try them out until you are good.  Learn to use charts etc.  

Today, there are many forex autopilot programs that make it possible for a beginner to cut short the whole process in forex trading.  They seem unbelievable but have sold out quickly and many people have indeed reported some success using them.

Answer 7

When the going gets tough, the tough get going. This adage often brings back the memories of my past days when I was trading initially in the currency exchange market. Indeed, more

http://forexupdate.biz/?cat=12

Answer 8

It’s not easy for a beginner to fully understand the fundamentals of forex trading. it seems easy simply to buy and sell currency but it’s  in speculating the outcome of currency pair that will make you crazy.  If you’re really interested, I recommend you check this site.  by trading with them, they will provide you what all beginners need- a personal Account Service manager (ASM) who will answer live all your technical questions and be your trading partner.  your ASM will guide you through the trading process until you get familiar with their system.  they allow you to fund your account with your credit card, so you can start trading immediately, regardless of banking work days or hours.  And If you are a frequent trader dealing in larger volumes, they offer tailor-made account to suit your exact needs (spreads, leverage ratio, mobile-phone alerts, etc.). uses the latest highly sophisticated and advanced technologies in order to offer you up-to-the-second quotes

Answer 9

The best way to start investing with forex is to find forex software that will assist you in making your buy and sell decisions. This software should be at least reasonably accurate in predicting the market.

One of the best can be found here:

http://needgold.iforex.hop.clickbank.net...

Forex software is your best bet for making a profit.

Good luck!

Answer 10

There's no way except to learn as much as you can and practice and practice until you master the art and become like a professional.

Answer 11

Open an account in an established forex company that is popular and has good reputation.   Then start by using the demo account until you are doing well and feel confident.  Meanwhile read and learn everything that you can.  Use your charts, aids and software.

Answer 12

There are lots of websites who teach you how to trade Forex. Here are a few:

http://www.freeforexebook.org/

http://www.forextopten.com/

http://www.topforexeducation.com/

http://www.forexhiddensystems.com/