Friday, 17 February 2012

I Trade Forex and So Can You

I tell people that I trade forex and they always ask me if they can too. Yes, it really isn't that hard. If you look back 30 years ago, it wasn't possible for individuals to trade. You had to be a large bank or firm to be involved in the market. Today, with the amazing growth of the internet, everyone has the chance to trade in this market from their own home.
When you first start out, you're going to have to assess whether you have the money to risk at this time. There is an old rule with gambling "only gamble what you're willing to lose". This means if you have bills to pay, don't take money away from that to do this. There is a learning curve to this. You need to start out small and you need to use money that you have extra of. You could easily cut out a non-essential part of your spending, to finance trading forex, just make sure you're not risking money you can't afford to lose.
The next step is to find yourself a good broker. This can be somewhat of a daunting task because there are a lot out there and some aren't that good. This means you're going to have to invest a lot of your time finding one that is good enough to meet your needs. The best advice I could give on this is to goto forex forums. These are easy to search on Google. These are communities where traders talk about anything. Hot topics are typically brokers, so you'll hear which ones are good and bad.
Lastly, I trade forex with my demo account a lot. The demo account is like a real simulation of trading, except you don't risk any money. It's really a beneficial way of getting a real experience of how this works.
I'm currently giving a 7 day free forex course Newbies and experienced are all welcome. If you're interested in participating, check out the Casual Forex Trader

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