How do I start currency trading?
How do I start currency trading? How much should I start of with?
What kind of news should I look out for?
Related posts:
How do I start currency trading? How much should I start of with?
What kind of news should I look out for?
Related posts:
Some of the better currency trading sites are:
http://www.forex.com
http://www.fxcm.com
http://www.marketiva.com
Most of these companies allow you to start trading with around $250USD however you should probably start out with a free practise account until you learn how to trade profitably.
If you want to trade news, probably look out for interest rate decisions and non-farm payrolls
Hope this helps
I was asking the same thing!! How do I start currency trading? Please contact me and let me know when you find out! Thanks!
yahoo finance
well i think u should trade in shares not in currency
Very carefully! Study up on it and find an on-line site that allows you to “test” your skills at trading before actually doing a live trade; you have to be very well read on the subject and know everything about the NEWS…not just what’s happening today or tomorrow, but months down the pike…Good luck and don’t invest too much or you will be sorry until you get the hang of it (if you ever do).
Yo a straight $5,000 will be good. plus some sort of trading software. Not to mention that you need a cable of DSL connection. Its hard, but if you get good good you will be on easy street.
I would advise you to stay away from currency trading in general. It’s pure gambling. However, you can deposit some money in a bank in Germany, say, and watch the exchange rates. The dollar will keep losing value in the next ten years, and you can then bring the money back to the USA and claim your profit. Remember there are tax consequences.
Good Luck
look, currency trading isn’t like the infomercial on TV. money is made in trading currency when you can invest substantial amounts of money. in another business you would need to make 20-30% profit. in currency you may onl;y realize a few %, but 5% on $10,000,000 is substantial, especially if you’re in and out in a matter of hours. how much can you afford to lose? that’s how much you should start with.
Go 2 this site http://www.fxcm.com . I heard its good, never used it though
Currency Trading is a highly lucrative, highly risky business. the first thing you should remember is that currency trading is a zero sum game. 90% of all traders lose all their money in the first 3 monthes.
if you still want to try out currency trading after this. then I suggest the following.
1: read as much articles about forex trading and economic news. http://www.forexfactory.com, http://www.fxstreet.com, http://www.babypips.com is a good place to start.
2: never start with real money. it is best to start a demo account with one of the many brokers out there. my favourite is http://www.forex.com
3: once you are comfortable with the trading software your broker provides, I suggest you start building a trading system. A trading system is a set of rules that you adamently follow that gives you signals on when to enter and exit a trade. good sites would be the http://www.forexfactory forums.
Remember the biggest obstacle you have to overcome in becoming a good trader is fear and greed. trading currency is more of an art of controlling your emotions rather then reading charts.
Good Luck with you trading ventures