buying and selling of world currencies. Trading occurs via phone, or
online, with hubs in Sydney, London, Tokyo and New York, creating a 24-
hour market. Forex is a speculative market, and as with many
securities markets, requires a certain level of knowledge to reap the
possible huge profits and avoid the profound losses. One way to gain
this knowledge is to learn forex currency trading online.
Websites to learn forex currency trading online abound from brokerage
sites to software (trading platforms) sites to online educational
sites. In exchange for opening an account, some brokerage sites will
offer free online classes in forex using the brokerage's personal
trading platform. Other sites offer free self-study courses that
include contact with professional forex traders, and a 30-day live
trading demo to learn forex currency trading online.
The educational sites provide a range of course types, with varying
costs, to learn forex currency trading online. Choices include online
seminars, self-study classes in the form of online sessions and in
downloaded files, interactive lessons with professionals, and the use
of videos simulating actual trades. Prices for the courses range from
free to hundreds of dollars. One website, The Online Training Academy,
which was formed in 1997 to specifically train traders, also offers
mentoring programs and on-location courses.
Professional traders offer courses to learn forex currency trading
online. Some of these traders have been trading forex since its
inception, and have developed their own trading platforms (software).
Their courses offer their expertise in CD, DVD and study-at-home via
online formats, and can cost anywhere from $300 on up, depending on
the number of sessions and level of expertise desired.
The majority of the online class sites agree certain basic topics are
necessary to learn forex currency trading online, starting with how
the forex market works. Knowledge of forex terms, such as spread,
margin, rollover etc, is also important. In addition, it is important
to know about currency pairs and the types of charts available, plus
how to read them. Understanding when to trade is also recommended.
Once traders learn forex currency trading online, and before trading
can begin, they need to know how to open an account, to distinguish
features of trading platforms, and the best way to choose a broker.
This last is particularly important because in order to trade, a
customer must have a reputable broker. Many brokers offer simulated
trading sessions to help the trader understand the process before
committing capital, and to decide if the brokerages' particular
trading platform meets the customer's needs.
Finding the right course may take some time, but the extra effort will
be more than worth it. As stated above, the forex market is
speculative and carries with it a considerable amount of risk.
Virtually everyone associated with forex trading advises traders to
gain as much knowledge as possible before entering the market. Bottom
line: the best way to learn forex currency trading online is to take
advantage of all the tools available.
Achieving Financial Independence with Forex: http://www.pipomavens.tk/
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