Forex Trading Strategy - Simple Ways to Learn Forex Trading

Not so long ago, trading foreign currency for an income (also called Forex Trading, or FX trading) was the sole province of a select few individuals and trading houses. Trading currency required in-depth knowledge of the industry, constantly updated information and a large amount of liquid cash as an initial investment before you could even look at breaking into this highly lucrative industry. A close knit fraternity controlled most of the trading markets, and restricted access combined with excessive transaction or management fees effectively shut out most people from it as a legitimate investment model - but not anymore! A few years ago something major happened in the forex industry that completely changed the game and re-wrote the rules of it for money - online trading systems started to show up and suddenly the world of it was thrown wide open.

Online Forex Trading is the future of FX trading!

One of the great advances brought about by the internet has been the rise of them. No longer do you need a broker to trade for you - you can now quickly and easily trade yourself, anywhere in the world, any time you like - and with greatly reduced fees!

The ability to it has put the power in the hands of the everyday investor, and with it has come a vast range of support tools and services. Now anyone can learn how to it effectively. Various tools are available to online traders - from demo accounts, trading ebooks and online signal providers through to managed accounts, platform reviews and even automated forex trading systems. The number and variety of support systems available now puts control of your financial freedom squarely in the hands of the everyday user. The single biggest barrier to success in them is no longer start up costs or lack of information it's now fear of the unknown!

A great place to start learning the ropes is a forex demo account. Also called a practice account this gives you the experience of live trading, but without the risk. This is a perfect opportunity to get your feet wet without having to risk your own money and lets you try different strategies. Combine a practice account with a couple of the online eBooks available and you'll Learn Forex Trading in no time and be ready to step up to greater challenges. When you're ready to check out some effective online forex trading strategies, visit onlineforextradingstrategy.com and take a look at the resources on offer.

Forex Trading Strategy - Simple Ways to Learn Forex Trading

Forex Trading Online has become extremely popular over recent years for a few good reasons, but primarily because of the ease of use, ready access to support services and share volume of information available for the new trader all of which allow you to develop your own effective Forex Trading Strategy. The rise of online forex has also meant greater competition between forex trading platforms, and that is good news for traders. More services and lower costs is the result as trading platforms compete with each other to attract the attention of new traders entering the market.

Forex Trading is also one of the truely recession proof investment models around. No matter what's happening in your local economy, if currencies are changing value against each other (which they do every day, and often more than once per day) there's an opportunity to profit from a forex trade. Not only this but most online forex trading platforms also allows traders to enter the commodity trading game as well - Gold, Oil and other commodities can be traded from the same systems as US Dollars, Euro's and Japanese Yen. Another good thing is the ability to "Leverage". This allows you to trade tens or even hundreds of times you actually amount of money in a single trade. Remember that the amount of money you make off each trade is determined by the size of the trade, and even a small starting balance will allow you to trade the equivalent of thousands of dollars of actual currency. With these sorts of volumes even small profit margins can net significant monetary gains!

How to get started:

1. Do a little reading. There's a number of free ebooks available on forex trading, but there's one provided by easy-forex.com that's a great starting guide. It's also a good guide to refer back to later on, so print out a hard copy too. there are also some great tutorial guides available online for a vary modest fee. These tend to be complete trading manuals including strategies and trading tactics.

2. Get a Practice Account. There are a number of good places you can get a Forex Demo Account, but two of the most popular are eToro and easy-forex. You'll need to download their software and install it on your computer, but once it's set up you can take a crack at applying your recently gained knowledge to the real world of forex trading WITH NO RISK. A demo account allows you to gain the experience of actual trading in a live environment, but without risking any actual money - simply put there is no better way to learn forex trading without risking a cent than by getting a Forex Demo Account, and any new trader should consider a demo account a MANDATORY step in their Forex trading education.

3. Go live with a mini account or micro account. Once you're comfortable with your demo account and you're ready to move on to the real thing, go ahead and open a live trading account and make your initial deposit. Many trading platforms offer sign up bonuses or other incentives on your first cash investment. In some cases this can mean as much as $1000.00 gets credited to your trading account as a "welcome aboard" bonus! Mini and Micro accounts are just names given to small initial deposit accounts. Despite the lure of large welcome bonuses, start off with a small account - a demo account is one thing but there's no substitute for a live trade.

4. Go forth and Multiply! The final step in your forex trading plan should be to work your way up to a full scale trading system. Start allowing yourself to make bigger trades and explore other currency pairs or commodities. Slowly but surely wins the race, but don't be afraid to put your foot to the floor in some cases too!

3 Simple Commandments You Must Practice If You Want to Learn Forex

Forex trading is one of the best ways to earn a living online.  It's quick.  It can be learned by almost anyone.  And it can cook your lunch if you're not careful.  If you want to learn to successfully trade in the forex financial markets, there are a few basic rules or commandments that you need to keep in mind.  Carve these rules into the side of your pc before you ever make a single trade, and you'll save yourself not only a lot of grief but also a lot of financial pain.  Here's just three to get you started:

Commandment #1:  Thou shall not trade in the forex market if all of your trading decisions come via the advice of a robot.

Basing any type of decision especially one that can involve considerable sums of cash on a forex robot is a huge and I mean huge mistake.  Here's why:  almost every forex robot out there in the market today is a scam.  Did you really think that a $97 piece of software was going to master one of the toughest financial markets in the world just because some two bit hustler online tells you that it does.  Will he give you back your money after it's all gone?  Furthermore, these forex robots with their phony stats and deceptive marketing ploys never live up to their hype.  If you're the type of person that's easily convinced or who falls prey to con artists all the time then the sellers of these forex robot trading systems will be lining up at your door.  Take my advice: don't fall for their lies, and you'll avoid a lot of future frustrations, plus you won't get stuck with a receipt for the Brooklyn Bridge.

Commandment #2:  Thou shall learn to accept losses from time to time if you want to learn how to survive in the forex trading market.

Yes, I'm afraid this is the one thing that most forex gurus fail to tell you time and time again.  Guess what?  If you trade in the forex market, especially as you start out, you will have losses.  Surprise, not everyone wins every time.  In fact most will lose.  But there is a solution for this.

Learn How to Control Your Losses Before They Happen

One of the first things you must master before ever seriously becoming involved in the financial markets is the "stop-loss" method.  In this method, similar to investing in stocks, you will set a predetermined level at which your broker will issue a sell order.  By doing this, you are in control of the situation and any potential losses should they occur.  You can also set a "moving average stop-loss" on your trades, and it will rise as your profits do.  As you trades move up, so does your "stop-loss" keeping you out of serious danger, but at the same time maximizing your chances for big profits.

Commandment #3:  Thou shall find a trading system that works for you and thou shall stick with it.

It's very important with all of the different methods out there that one can use to base your ultimate trading strategy on the one that makes you feel the most comfortable.  It's also important that you stick with it - no matter what.  There will be bumps and bruises along the trail but that's a fact of life that we all have to deal with from time to time.  A system is what you need, and it's a system that's going to make a difference in your overall trading success.  Don't jump from one system to another one.  The easiest way to fail and to never learn forex trading at all is to scatter and confuse your perception of what to do and when to do it.  Stick with one method of trading or system for the long haul, and in the end you'll do just fine.

These are just  three of the commandments that you MUST follow if you want to learn forex trading the right way.  Follow them like Moses on the mountain.  Good luck and much success in your future trading life.