QUOTE(Debbie Johnson @ Feb 14 2012, 08:55 AM)
Forex currency trading is very simple to start nowadays and you can achieve this from your own home. Forex currency trading is available to anyone who has an internet connection. You can begin trading Forex out of your pc as well as using their company devices, such as phones and tablets.
Whilst you can begin trading Forex relatively quickly with ease, it is best to take your time, if you are seeking long-term success and want to ensure that you do not lose all your money in the start.
Many online Forex brokers offer practise accounts nowadays, and therefore you are able to go into the real Forex market without losing any real cash. Practise accounts are not only seen used by beginners but additionally professional traders and investors, to test Forex currency trading systems. Practise accounts will also be a great way to test the platforms of different brokers when choosing a Fx broker.
Once you have developed some confidence, you might then consider opening a live account. Remember, it's not necessary to risk lots of money and trade standard lots. As mentioned before, it is advisable to take your time. Many online Forex brokers offer micro accounts nowadays, which allow you to trade micro lots. Micro lots are much smaller than standard lots and require a smaller amount capital to purchase and sell - 100 times less to become exact. Once you gain some confidence trading micro lots, you may then consider trading mini lots as well as standard lots.
In order to be successful within the currency market within the long-run, you will need to be ready to put in the hard-work and practice a lot.
Even though you might feel like you're costing you time trading fake money with a demo account, you are not. When trading with demo accounts, you find out about the FX market and you gain valuable experience that you will be in a position to apply when you sign up for an active account.
Practice isn't all you need though - you need knowledge too. Knowledge originates from study and so you will have to try your very best to conduct a good amount of study, regularly. In order to ensure your long-term success in the Forex market, you will want to consider studying all: the fundamentals of Forex, using fundamental analysis, using technical analysis, tactical trading and strategies.
In conclusion, you can easily start trading Forex. However, forex successfully is really a entirely unique story. Although many people refer to Forex currency trading as gambling.
I agree with you, I think main problem that many ppl come to forex to get thousands dollars per month without any efforts, they buy "superb EAs" try to use "magic forex strategy" or follow "100%-right signals" finally they criticize brokers for cheating them and tell everyone that forex its gambling.