How do i learn forex trading?
Please i opened a demo account and just don’t know how to operate the thing…where can i find a good book to read,or does anybody have a material that will be helpful to me,please send to shawn.aust@yahoo.com
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Filed under: Forex Courses
There are two resources I would recommend.
The first is a video course by David Waring:
http://www.informedtrades.com/f112/
The second is an educational site:
http://www.babypips.com/school/
Both of these sites also have forums where you can joint a community and ask questions.
Forex is incredibly difficult for non-professionals.
The main reason is the interest rates that you are forced to pay as a non-professional makes it too difficult. Let me explain:
Yes you get leverage of up to 1 to 20 ($50 lets you trade $1000) but this also means that are paying interest per day on that $1000 out of the $50 that you put up. So of course your commission is "free" but the firm makes that money out of the spread, and the interest rate that they are charging you.
The only real way of making money in currencies is with currency futures, but that also require much more money. Almost impossible to trade without $250,000.
I agree with Michael. i suggest you start investing ina forex robot, so it can be easier, and automatic for you. Here are the top forex robots for 2009, that just recently updated:
http://www.e-bookreaders.biz/business/top-3-forex-robot-revie/
i hope i could help!