Online Forex Trading?
maina n asked:
I woulike to know how the forex is traded online?
I woulike to know how the forex is traded online?
Which is the safest and best site for an individual to conduct the trading from? and how does one raise the capital to trade online? Also how profitable is the business?
Website content
Link will answer many questions and answers you should know. I have 3 accounts (never put all your money/eggs in one account/basket). You can start with $500 when you can afford to open account. Since you are just starting you will lose money if you don’t learn the basics, first. #1 best tip, don’t trade your real money until you try trading demo account. When you can trade a demo for about 2-3months daily and make money then if you feel ready slowly start trading real money. So making and/or losing money depends on how well you can trade. For some it very profitable, for many it is not.
Know when and the fundamental news that affects price swings are reported. Stay clear during these volatile times because they can take out your stop in a heartbeat and a few beats later go back the other way. And remember that the news could already be mostly priced into the current price.
Learn the basics of technical trading to help time your entry/exit for the best risk/reward ratio. And don’t trade against the current trends.
I use Lightning Strikes Trading System for trading in any time frame and it also works on stocks, bonds, etf’s, mutual funds, etc… They have 3 free training sessions a week and you don’t have to buy the software to join in the live chat and text. You can even watch some recorded past live sessions. Here are some past charts that I used…….
There are 7 indicators (2 short, 2 medium, and 3 long term) and if volume is reported another one is added (on balance volume). Plus whatever time-frame is used the 2 green horizontal lines are the support and resistance for that time frame. So when indicators are all touching the bottom price is at or very, very near support. At top is at or very, very near resistance. …………
If you can not view charts above I can email them. Or any you would like to see in Forex.
You can find all the basic info you need on websites for free.
This site should give you a good start.
Try what you learn on demo sites. If you pick 75% right with play money then you might be ready to start slowly investing….
Or just google for more.
Here are my favorite sites.
Has basically all you need from fundamental to technical terms. Plus stock screens, charts, public chart lists, and much more useful info.
Has good learning resources.
In addition to yahoo finance.
For news and more.
For news and more.
For rating stock risk/reward ratio and reports.
For investing in more than stocks.
For more great learning tools.
For best software timing your entry/exits any time frame for day traders and long term investors.
Others worth exploring.
Best Wishes,
Burt Whitley
You can open an free Marketiva forex \gold\fund\indexs online trading account , with $5 reward and $20000 virtrual fund for practice .Just click the following link to open an account.