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How to start?

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How to start?

Postby Kate » Mon Jun 21, 2010 2:08 am

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? I also have a full time job. Will it be possible to handle forex trading with that?
Any help/guidance will be appreciated.
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Re: How to start?

Postby Will smith » Fri Aug 06, 2010 10:24 am

Get an forex demo account and practice for 6 months. Then you can start trading with real money. Be patience and take your time in learning the strategies, otherwise you may suffer heavy loss. You can get forex demo account in internet and they are available for free(usually 1 month).

All the best!
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Re: How to start?

Postby profit » Wed Nov 17, 2010 7:30 am

Forex market signals mainly depend on technical and fundamentals analysis. Best forex signals from expert analyst at profit dot biz. This site provide quality information and a lot of free services for traders.
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Re: How to start?

Postby Jacq Stone » Mon Sep 12, 2011 8:22 am

Informations being shared about Forex are really a big help for newbies who want to explore and enter Forex trading. Gain knowledge and understand Forex is the first step towards trading. Build your trading foundation using a demo account and you'll find yourself in having good profits.
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Re: How to start?

Postby TLambarde » Tue Sep 20, 2011 1:04 am

forex takes a lot of time and discipline. There are a lot of great resources for learning forex basics, particularly introductory slideshows on Slideshare. 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), also check out The Learn-Forex-Blog.

Good luck on your journey!
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Re: How to start?

Postby Haley12 » Mon Oct 24, 2011 7:08 am

Hey if you want to start forex market initially understand basics from any reliable source. start reading about forex from resources like dailyfx. Then better if you open demo account.... can offer you that facility. Once you are familiar with all transactions you can invest little real money.

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Re: How to start?

Postby bestforexpartners » Wed Dec 21, 2011 8:53 am

Always remember that the forex market comprises several exchanges; hence, always keeps this in your mind before creating a forex trading system routine as, here there are lots of differences between the forex market and other markets. Also, if you are new to the forex market and has been trading only in the stock market, you may not be wishing to get caught through any mistakes.
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Re: How to start?

Postby Darsaforx » Sat Jan 28, 2012 10:58 pm

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
- 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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Re: How to start?

Postby FXAmateurTraderUK » Sat Nov 03, 2012 4:22 pm

Hi Kate,
I have said this in some other posts I have made if you want to read further into them, but begin with a demo account for a couple of weeks and the once you know your way around begin trading (and yes you can do it ANY time between Monday and Friday so you should be able to play with it alongside your job) with just a couple of hundred pounds or dollars - that you can afford to lose as part of a learning curve, should you need one so steep as I did. This amount allows you leg room when it comes to making losses and gives you a chance to wait for the market to return so that your positions become profitable rather than cancelling your positions quickly due to the fact you hit a margin call so early due to a small amount of funds and not enough margin.
I don't want to say anything to scare you away from trading because it can be both profitable and fun. But do be cautious with your money and patient too. Keep abreast with the news and all economic statistics coming out as you trade. You don't have to trade 24/7 or open positions everytime you approach the computer. Sometimes I spend days watching the markets without actually opening any positions - though this is extremely boring when I am losing money instead of profiting but can't do anything due to the losing positions limiting my usable margin - all very annoying.

I am sorry I can't write more at the moment but I might revisit to continue.
Let me know of any questions you have and if you are more interested in my opinions etc then follow me on twitter as below.
Regards, FXA

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Re: How to start?

Postby mdenamul » Sun Dec 16, 2012 3:53 pm

Forex trading can be done by opening a trading account with any of the Forex brokers. Many big companies like 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 .
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