Forex is one of the fastest moving financial instruments meaning the forex market is volatile and unpredictable and a daunting place if you do not know what you are doing. As a beginner you must accept that you will need to learn the basics or forex trading for dummies.
As a beginner, the first thing you should do is open a demo account with one an online forex broker. A demo account works in the same way as trading real money on your own account. It will allow you to trade a theoretical amount in a real live environment without putting your capital at risk.
Once you have chosen an online broker and are up and running with a demo account it will be essential to have some sort of charting package. Some of the more basic charting tools are free and for others there is an annual subscription. It’s better to start off with a free version to get a feel for how they actually work.
Most online brokers do offer a degree of training on their platforms including charting tools which is well worth going through as it will give you an idea on what you should be looking for on charts as a possible trade.
Learning the basics of forex trading for dummies
Free tutorials are also available online and you can start learning about forex by gathering some free information about it. With the growth in popularity of forex trading, we are now seeing an increase in some excellent forex tutoring forums which give the basics of forex trading for dummies.
They have developed useful ways of not only tutoring about the basics of forex trading but also showing beginners instant trading results.