Here are some tips to help you start trading Forex profitably:
Theres so much information about Forex trading online that its understandable for the novice trader to feel overwhelmed. Here are some guidelines on how to get started in the Forex market.
First of all, study. Read everything you can find on the basics of the Forex market, starting with these articles and continuing with whatever else you can find. With all the free information about the Forex market currently available online, you shouldnt have to purchase anything at this stage.
When the data makes sense to you, choose a broker. This decision should be based on your trading needs. If money is going to be tight, find a broker that offers a micro account, so you dont blow your entire trading budget in the first week.
Also, make certain there are no hidden fees. If youre trading on a small account, it would be inconvenient, to say the least, if your entire monthly profit was eaten up by a maintenance charge.
When youve found the perfect brokerage, open a demo account with them. This gives you access to their live feed, with up-to-the-second price quotes and charts and your choice of...
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