| Foreign exchange trading is the trading of currencies. | | | | quotes, news feeds... |
| Most currencies can be traded. Huge amounts of | | | | Visit different broker's websites and compare the |
| currencies are traded 24 hours a day, 5 days a week. | | | | services they offer. Some brokers give you the |
| On average $1.9 trillion is traded a day. The most | | | | possibility to open demo accounts. Do so, to test |
| traded are United States Dollar, Japanese Yen, Euro, | | | | their software and find the one you like best. |
| Canadian Dollar, British Pound Sterling, Australian Dollar | | | | Before you start trading make sure that you have |
| and Swiss Franc. | | | | learnt the terminology: Market Order, Limit Order, |
| Many brokers will let you open an account with a | | | | Stop Order. You may find the definitions of these |
| starting balance of just $250. Though that may seem | | | | terms and more information at Calculating Forex |
| small, remember you will be trading on margin. Your | | | | Profits And Losses. |
| $250 investment may let you control $25,000. As | | | | All currencies have standard identifying code used |
| with all investments there are risks so make sure you | | | | worldwide, some examples are: EUR (European |
| take the time to study the markets and your | | | | euros), GBP (United Kingdom pounds), AUD |
| exposure before making your first trades. I highly | | | | (Australian dollars). Of course you don't have to |
| recommend that you do some paper trades first to | | | | know them all but it may be good to be able to |
| make sure you have understood how the markets | | | | recognize all the major currencies codes so that you |
| work. No risk training, just write down the trades you | | | | will be able to make quick decisions. |
| would have done for real and chart the prices. Buy | | | | To make sound evaluations, you need information. |
| and sell and see if you have the right strategy | | | | Follow carefully the world's current events, economic |
| before making real trades. | | | | and political news. You will be surprised to see how, |
| A fast internet connection will allow you to do forex | | | | what may seem to you as insignificant will cause the |
| trading online. Your broker will give you many online | | | | currencies markets to fluctuate wildly. |
| tools to allow you to study the markets: Real time | | | | |