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How to start forex trading?

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How to start forex trading?

Postby ricktojohn81 » Fri Dec 24, 2010 1:03 pm

Hi to all

I am newbie here and have a question.I have dealt in stocks but with little success. Forex trading looks lucrative and I have been thinking of starting it but not sure how to go about it.

Any suggestions/guidance?

Any help/guidance will be appreciated.
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Re: How to start forex trading?

Postby Jacq Stone » Wed Aug 31, 2011 6:56 am

Learning Forex needs determination for a better understanding. Read about Forex before you enter a trade. Open a demo account with a reputable Forex Broker where you can gain experience of trading just like in the live account using virtual money only. Once you have perfect your trading style and have discipline in trading, you can now go in the real market where you can apply all the things you've learned in the demo account.
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Re: How to start forex trading?

Postby TLambarde » Thu Sep 15, 2011 7:59 pm

Here are a few musts for learning about forex: Read "Trend Trading" by Daryl Guppy. Stay up to date with the latest at Bloomberg.com. For forex training basics and strategies check out Everestforex. (You'll get a $100 free bonus to trade if you pass their simulator). Hope this helps. Good Trading and Good Learning to you all!
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Re: How to start forex trading?

Postby Haley12 » Mon Oct 10, 2011 9:18 am

If you are newbie you can use http://www.babypips.com/forexpedia/Main_Page to learn the basic subjects. It also necessary to be updated all the time, read reviews, news and technical analysis. I generally read forex updates at dailyfx. My friend opened demo account at http://www.avafx.com/ you can also try it. Good luck.
http://www.ask-fx.com
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Re: How to start forex trading?

Postby Kevin » Tue Oct 11, 2011 9:55 pm

in fact this site (ForexAbode) also has some great learning material on technical, fundamental and psychological sections. I am not sure why they are not promoting it as I found it better than many other resources.
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Re: How to start forex trading?

Postby herishtane » Tue Nov 01, 2011 4:27 am

Forex trading can be done by opening a trading account with any of the Forex brokers. Many big companies like Geojit etc are offering this facility.
You are looking to transfer money to a foreign bank. This depends on the bank with which you have opened the account. Wired transfer facility can be used to do this. You can specify the account to which you want to transfer the amount. Bank will charge a nominal amount to transfer your amount. :oops:

http://www.maxtradingsystem.com/
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Re: How to start forex trading?

Postby jennyjohn » Tue Nov 01, 2011 9:39 pm

If you are just starting out on your forex journey I would suggest you read "The Complete Turtle Trader" by Michael Covel. The introductory slideshows on Slideshare are also a great resource. Once you have the basic understanding you can learn strategies at sites such as such Everestforex (great site, very friendly, gives you $100 real money to start with). And of course stay up to date at Bloomberg.com!
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Re: How to start forex trading?

Postby herishtane » Fri Nov 04, 2011 7:31 am

When it comes to Forex trading, there are two markets that you can trade money in: major and minor markets. Major markets are the major countries’ currencies, and include currencies such as US Dollars and Euros. Minor markets can be distinguished as second world countries’ currencies, and include currencies such as the Korean Won and New Taiwan Dollar. :oops: :roll:

http://www.maxtradingsystem.com/
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Re: How to start forex trading?

Postby bestforexpartners » Sat Nov 12, 2011 6:54 am

Being a newbie, your first approach should be to watch and judge the forex market and learn from other forex marketer doing business here. This will save you from the real traders aggressively participating in the market, but always make sure that you are well efficient in the usage of such systems.
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Re: How to start forex trading?

Postby Darsaforx » Sat Jan 28, 2012 11:50 pm

I'm sorry but i think i must repeat my other post:

I think to start you should make several steps:
- Learn forex basics (what is spread, leverage, swap, etc)
- Try terminal (better to start with MT4), try it on demo
- Try to develop your own trading strategy, and use it on demo.
- After you will see first systematic profits, look for reliable broker (look rankings, for example earnforex.com)
- Start your live trading (
- Don't forget continue to learn theory, improve your strategy, try to cope with EA (bot,robot) for example on MQL
- Practice and increase your profits (don't forget to diarize your trading)
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