Comments on: I would like to start trading forex online. Anything I should know, any advice?

By: Brian P

Brian P — Sun, 07 Mar 2010 22:33:44 +0000

There is lots of information online and Start chatting online…I am using Fap Turbo and their community as learning tool. Read my Forex Blog.

http://www.forextradingrobots.net/

First open Demo Account, Download MT4, Start Trading until you ready for using real money.

By: Jack P

Jack P — Sun, 07 Mar 2010 22:29:13 +0000

First of all:

Do NOT buy into the forex robot hype! They are 99% worthless especially for a beginner trader.

I would focus on these things:

Read as much as you can about basic forex education

Open a demo account or make small deposit

Decide how much you are willing to lose and dont deposit more than that

Join an online forex course from a reputable teacher

I have a friend who makes most of his income trading forex and these were the steps he followed.

Please don’t be a victim of the get quick fast money schemes!

By: steven c

steven c — Sun, 07 Mar 2010 21:52:57 +0000

I simply suggest you to go for Babypips school
and other thing is to practice with the demo accounts of various brokers until you get enough experience to jump in the market with the real accounts.

By: Soniya

Soniya — Sun, 07 Mar 2010 21:32:32 +0000

Trades with 95.82% accuracy in any market condition. Will quadruple every dollar deposited.

http://epressreleases.blogspot.com/2009/04/forex-trading.html

By: Trade

Trade — Sun, 07 Mar 2010 20:55:25 +0000

Research, practice, try to learn as much as you can before you jump into trading a real account. I personally have been using robots to trade for me. I am currently using Forex Megadroid. Making money everyday so far. I bought it here and got a discount/cash back

http://www.youtube.com/watch?v=EuCYADhhPUw

By: Jimmy E

Jimmy E — Sun, 07 Mar 2010 20:14:12 +0000

here the answer to all your questions:
http://www.e-bookreaders.biz/business/top-3-forex-robot-revie/
its very automated for you

By: The chosen one

The chosen one — Sun, 07 Mar 2010 19:44:26 +0000

Open a demo account. Try getting familiar with how to execute trade, put stop loss and put profit targets. Get familiarise with some basic technical indicators. I’d suggest moving averages, RSI, MACD, ADX, Pivot points, Fibonacci. Be prepared to be a student for atleast 2-3 years and keep studying books. One thing demo account will not teach you is managing your emotions and trading psychology. Unfortunately that is something that you’ll have to learn only with live account and sometimes at a cost. I’d suggest reading “Trading in the Zone” for learning about trading psychology.

Also learn or develop a trading strategy. There is a lot out there. I’d recommend http://www.tradingwithprecision.com. Nick McDonald has a very effective strategy which is simple to learn and with practise will be easy to master.

Start trading live only with money that you can afford to loose. Manage your losses and the winners will take care of themselves. Never risk more than 2-3% of your capital on any single trade.

Thats my advice.

If you are interested in trading robots, I am testing out two of them on a live account and blogging the results at http://www.fapturboincome.blogspot.com. Follow me there.

Cheers!!

By: tinvestor

tinvestor — Sun, 07 Mar 2010 19:27:51 +0000

Yes, you should definitely open a practice account before trading live. I can’t stress this enough. The forex market is very fast and you can lose hundreds of dollars in a matter of minutes, no joke. If you practice and have a good strategy then you should do well. Most traders recommend that you trade in your practice account for atleast 6 months. Another word of advice, try to stick with one or two currency pair.

By: Monica

Monica — Sun, 07 Mar 2010 18:49:33 +0000

check these sites for tips
http://forexconfidante.cjb.net, http://topforexrobot.cjb.net