The forex is a huge financial market that offers very profitable investment opportunities
to experienced traders. Beginning traders can learn the ropes on their own
through websites and free demo accounts.
What is the Forex?
The FOReign EXchange is the foreign currency market in which traders and investors from all over the world meet to buy and sell international currencies.
To track the evolution of currency pairs and speculate on the forex, forex
brokers provide traders with trading platforms. All you need is a computer and
an internet connection to initiate trading orders on the exchange market.
Starting off right on the Forex
To get off on the right foot, it is crucial that you respect a few key
rules:
- follow the macro-economic
news of the principle currencies
- learn the technical analysis
of charts
- learn money management
- select a reliable broker
that is regulated by the UK's FSA
- open a demo account
Many websites like www.forex-central.net are a genuine goldmine of
information that allows you to freely learn about forex trading. Trader forums are
also useful to ask for advice and learn about other traders' trading
strategies. There are also trading courses given by professional trading
trainers, in the form of classes or webinars. Books are also a good source of
information, but the most important thing is to open a free demo account to
discover forex trading with virtual money.
Warning:
Speculating on the currency exchange market is risky in terms of losses
linked to the use of leverage. Make sure that you understand the risks before
you open a real trading account.
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