how to use Forex exchange?
Friday, February 21, 2014
, Posted by Ryanita at 11:00 AM
emil
I want to use Forex, is it all right normal banking account or special one needed, how to register ther does anyone helps me? Thanks a lot
thank you :)
thank you all of you for sharing your ideas and for helping
Answer
If you are a beginner, i suggest you to use Marketiva, which is a very good platform to start trading with and very easy to use.
Marketiva gives you 5$ real to start trading so you don't have to deposit and if you made profit from it you can cash out, this is why it's very good for beginners. Their platform is very easy to use and they have support during trading hours for your questions, doubts etc.
They also have chat channels where you can talk, exchange opinions and ideas with traders of your country or international traders.
To open your account please visit http://www.marketiva.com/index.ncre?gid=3371
If you are a beginner, i suggest you to use Marketiva, which is a very good platform to start trading with and very easy to use.
Marketiva gives you 5$ real to start trading so you don't have to deposit and if you made profit from it you can cash out, this is why it's very good for beginners. Their platform is very easy to use and they have support during trading hours for your questions, doubts etc.
They also have chat channels where you can talk, exchange opinions and ideas with traders of your country or international traders.
To open your account please visit http://www.marketiva.com/index.ncre?gid=3371
Is FOREX (foreign exchange trading) easy to learn and get started in?
Q.
Answer
Having traded the FOREX for some time, I would say that learning and getting started are both easy. Making money however is quite hard. I would go to one of the FX broker websites and look for one that has a free demo account. Start your pretend trading account with a few thousand pretend dollars and when and ONLY when you have doubled it, open a real account with real money. You might lose all of that a few times before you get it right, as psychologically it is harder to trade with real money than imaginary money. Don't quit your day job right away.
The link below will take you to FX Street which is an excellent news site about the FX market, and will give you a list of FX brokers, many of whom can open a free demo account for you. FXCM is one of those brokers, also linked below. This is NOT an endorsement of FXCM. You may need to find a broker in your country of choice, and you should know that you can open an account in almost any currency you want to use as your base currency if you find the right brokers.
You should study up on technical trading, interpretation of chart patterns etc, and if you prefer a fundamental approach study macroeconomics and try to understand what economic events and forces will change the flow of currency.
I would not recommend spending a lot of money on some sort of magic software that supposedly tells you when to trade. I started that way and eventually did better trading without the expensive software than I did with it. The only ones making money with most of the fancy software out there are the ones selling the software. After all, if their software was so good, why do they need to sell it? They should be rich from trading their own accounts.
Also, look on Yahoo! groups for some support groups. They are quite active and can steer you towards group meetings in your area, training seminars, and even have live trading sessions with IM in the middle of the night.
Having traded the FOREX for some time, I would say that learning and getting started are both easy. Making money however is quite hard. I would go to one of the FX broker websites and look for one that has a free demo account. Start your pretend trading account with a few thousand pretend dollars and when and ONLY when you have doubled it, open a real account with real money. You might lose all of that a few times before you get it right, as psychologically it is harder to trade with real money than imaginary money. Don't quit your day job right away.
The link below will take you to FX Street which is an excellent news site about the FX market, and will give you a list of FX brokers, many of whom can open a free demo account for you. FXCM is one of those brokers, also linked below. This is NOT an endorsement of FXCM. You may need to find a broker in your country of choice, and you should know that you can open an account in almost any currency you want to use as your base currency if you find the right brokers.
You should study up on technical trading, interpretation of chart patterns etc, and if you prefer a fundamental approach study macroeconomics and try to understand what economic events and forces will change the flow of currency.
I would not recommend spending a lot of money on some sort of magic software that supposedly tells you when to trade. I started that way and eventually did better trading without the expensive software than I did with it. The only ones making money with most of the fancy software out there are the ones selling the software. After all, if their software was so good, why do they need to sell it? They should be rich from trading their own accounts.
Also, look on Yahoo! groups for some support groups. They are quite active and can steer you towards group meetings in your area, training seminars, and even have live trading sessions with IM in the middle of the night.
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