Instructions
Find the way to start forex trading that best suits your needs. There are some ways you can participate in currency markets. You can invest your money yourself, you can purchase a software robot or EA (Expert Advisor) to trade your account for you, you can buy automated trading signals and tie it to your account or you can buy hand signals and trade them yourself in Forex Trading.
MBA Forex: Learn to invest in forex on their won. This is the hardest way to do it. Expect to take two to three years before you become proficient. It is a long and difficult journey, so be prepared to work hard. A good place to start is in BabyPips. This is a free course that will give most of the fundamentals for investing currency and will even delve into some of the most advanced methods. Another way to learn is to be mentored by professional currency traders. Forexmentor and FX500Club are good places to start. These courses will teach you things like what currency pairs to trade, the best time to trade, how to use support and resistance, money management and more. These courses range in price from free to $ 1,800 from 2010.
Buy Forex automated trading signals. You can find services that will provide you with both automated Forex signals. The advantage of automation is that you never have to touch. Tieneque only synchronize your account with the signal provider and its operations are run automatically in your account. Few places to find automated signals are in ZipSignals, ZuluTrade and Tradency. These range in price from $ 50 to $ 400 per month from 2010.
Buy hand signals. There are plenty of websites that will provide trading signals by email or text message. You can find reviews on dozens of services, together with comments from subscribers in trade forums such as ForexPeaceArmy, EliteTrader and Trade2Win. The biggest drawback of going this route is that the currency markets are 24 hours, which means you have to be ready to execute an operation at any time. This also means that it is likely that a lot of businesses miss, if the market moves before it can reach your computer. However, if you are more than one type of practice and not rely on automatic signals, this could be a good alternative. These services range in price from $ 50 to $ 250 from 2010.
Buy a Forex expert advisor (EA). These are systems that run on the software platform MetaTrader automated currency trading. While vendors will try to sell these as not having losses and win 90 percent of the time, do not always give you the complete picture. What they often do not tell you is that they may be risking 100 pips to gain 10 pips. That means they can win nine out of 10 times and still end up losing money. Dozens of these trading robots are available. Many of them work in the short term, but long term can lose money. A good place to find comments about them are ForexPeaceArmy, EliteTrader and Trade2Win. If you decide to buy one of these, run it on a demo account for at least two months and only buy that offers a money back guarantee of 60 days. These traders robot range in price from $ 67 to $ 299 from 2010.
