After testing several Forex platforms we find this one to be the best. To get more information on money management, you can read these books:. Forex Trading Risk Management 8.
Forex Lessons in this Forex for Dummies Course:
The concepts that are part of fundamental analysis of currencies: Fundamental analysis is the most natural way of making FX market forecasts. In theory, it alone should work perfectly but in practice, it is often used in pair with technical analysis. Recommended e-books on Forex fundamental analysis:.
Forex technical analysis is a type of market analysis that relies only on market data numbers - quotes, charts, simple and complex indicators, volume of supply and demand, past market data, etc. The main idea behind technical analysis of currencies is the postulate of functional dependence of the future market technical data on the past market technical data.
Same as with fundamental analysis, technical analysis is believed to be self-sufficient and you can use it alone to trade Forex successfully. In practice, both analysis methods are used. Recommended e-books on Forex technical analysis are:. Even if you master every possible method of market analysis and will make very accurate predictions for future Forex market behavior, you will not make any money without a proper money management strategy.
Money management in Forex as well as in other financial markets is a complex set of rules that you develop to fit your own trading style and amount of capital you have for trading.
Money management plays very important role in getting profits out of Forex; do not underestimate it. To get more information on money management, you can read these books:. While learning a lot about market analysis and money management is an obvious and necessary step to become a successful FX trader, you also need to master your emotions to keep your trading performance under strict control of mind and intuition. Controlling your emotions in Forex trading is often balancing between greed and fear.
Almost any known psychological practices and techniques can help currency traders to follow their trading strategies rather than their spontaneous emotions. The problems you will have to deal with while being a professional Forex trader include:. Every Forex trader, like any other professional, needs tools to trade. One of these tools, which is vital to be in the market, is a Forex broker and specifically for the Internet - an online Forex broker - a company which will provide real-time market information to traders and bring their orders to the Forex market.
These are the questions to answer when choosing the right Forex broker:. Please disable AdBlock or whitelist EarnForex. Forex Basics If you have already read the What is Forex? The objective here is to give you an initial pathway upon which you can build a steady foundation over time. Experience can only be gained by doing it. Free demo systems were designed by forex brokers for this very purpose, but the real market will beckon soon enough. Get a list of forex brokers offering free demo accounts.
The next few pages will arm you with key tools and a strategy for winning from Day One. How do we get started? Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you. Brought to you by: Was this article helpful?