What are the basic requirements for forex trading?
Zom-B asked:
How one can start a forex trading in india. Is it profitable.
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How one can start a forex trading in india. Is it profitable.
August 12th, 2009 at 12:05 pm
Forex, like any other market has risks as well as possible rewards. There is no guarantee of profit. For a small trader, a broker like OANDA.com might a good place to open an account with.
August 15th, 2009 at 12:01 am
Forex Market is Draconic. According to statistics, only 10% of Traders on Forex market are winner. Therefore, you must first have a knowledge and experience long time in this area. You should begin with demo account. After about 1 year, you can open real account in any Forex company, for example. FxPro, FXCM, and start trading. The more important that you overcome yourself.
August 15th, 2009 at 1:34 am
First, I suggest you to sign up for a demo account. Trade until you able to consistently making profit. Then, put in some real money that you can afford to loss. You may loss it, treat it as tuition fee. Finally, hopefully you would have master the skill to win in the long run.
There are many free resources, just search it online. Some websites that might be useful:
Good luck.
August 15th, 2009 at 7:06 am
The first thing you need is to find a good broker. You can find a list of the best forex brokers reviewed at
August 17th, 2009 at 4:55 am
while lots of people claim great profits from trading forex, there is no guarantee that you can duplicate their achiements. it will largely depend on your acquired knowledge, experience and strategies you apply on every trade. being a newbie you need to do lots of research. read ebooks and practice with demo accounts. i can personally recommend this site. they have lots of learning tools and materials for your education. you may download a free ebook and a free demo account as well. they will even provide you a personal account service manager as your mentor & consultant by opening a traders account. all the best
August 17th, 2009 at 2:27 pm
Forex trading is risky at the best of times - I would strongly suggest opening a demo account first - that way you can adjust your settings, play around, and see what works for you under a variety of situations and it also greatly depends on the amount of money you are willing to risk.
Have you considered using an expert advisor to assist you? especially since you many not have the experience to understand the market? these expert advisers are effectively robots which operate in the market, with specific currency pairs and know the smarts about trading (but of couse nothing is fool proof).
Have a look at this one - its the latest around
If nothing else just read about it as it may give you some insight. I have also trialled a few others and am demoing one at the moment. If you want to know the details pls let me know.
August 19th, 2009 at 5:20 am
Yo dude go here. You can get a free trial and they teach you all about it. It is a course on how to succeed with it they give you special tools and every thing. Here is the link.
August 21st, 2009 at 12:37 am
Zom-B
Well Forex needs you to develop a system and to stick to it and be very methodical and to learn from others. If you feel you can do that and test your system without erring towards different emotions and influences; just plain test your system and see if it works and keep developing it. You’ll make a trader in the end, but it’s a long and rocky road to get to that level. Nevertheless many have reached that level and that’s become their way of living.
Many more have just lost their money and moved on. Don’t lose your money in one go and don’t get excited and carried away with it !
August 22nd, 2009 at 7:59 am
You can start forex trading by opening an account with forex broker. But the question arises about reliable forex broker and in order to that you have to do a litter research on them. Few important points are mentioned below which you need to keep in mind while hiring forex borker are:
1.24 hours services
2.Trading platform
3.Trading pairs
4.Transaction cost.
5.Margin
6.Lot size
I hope these information will help you out in starting a forex trading business
And secondly forex trading is a risky business few people succeed only so its all depends how luck goes
August 23rd, 2009 at 5:56 am
Hi there I was in your shoes a while back. I started trading forex in 2007.
I have learned a lot and have a lost a lot of money but now I am earning it.
I would recommend go online visit some sites and learn the basics. I recommend it is an amazing site helps a lot I learned a lot there on my first days.
I have my trading journal there GusForex and my blog at
The best way to learn is open a demo account at any broker and start learning the platform then understand why prices move up and down. Look at other peoples systems and see what they do and try and learn from that. Dont buy these systems that promise millions trust me they dont work, I bought plenty of them.
I have all my trades on my blog and update it frequently. I am always posting to my journal at
So just drop by and I will be willing to help.
August 26th, 2009 at 12:49 am
Profit is unlimited…Max loss is 100%
You should go Google for forex web site and apply for it such as forex.com
August 28th, 2009 at 6:08 am
Well, I would actually say the basic requirement for forex trading is having common sense and the ability to learn. You can never stop learning in this field. Learn the basics at.