If you want to get off to the best possible start when trading currencies online you need to make sure you choose the right products and services. You should view the products and services you choose as the first important decision you have to make. The right choices will help you make big profits, the wrong choices could seriously damage your success.
This is why we have put together this brief summary that covers the 4 major areas of Forex trading:
Brokers - Training - Strategy - Analysis
We have tried hundreds of Forex products and services over the years and we have put together this 'Getting Started in Forex Trading Plan' for all new traders.
We know you probably do not have thousands of dollars to spend which means your choices at this stage have even more importance. We have tested all of these services and we are giving you exclusive links that give you FREE FOREX INFORMATION!
Thats right, you can get trading succesfully with just $50 and still cover all 4 major areas, we can virtually guarantee that if you use all of the 4 services listed below you will make money from trading the Forex.
Firstly, before you can do anything in Forex trading, you need a broker platform to allow you to make all those profitable trades! Why is it important to choose the right broker? Simple, each broker has different, spreads, tools, support, and functionability. Some will help you make thousands, others can make it extremely difficult to get anywhere in Forex.
We have tried and tested Easy-Forex and we know it offers extremely competitive spreads and leverage which means that even with a small deposit you can make big big profits. Additionally they have some great tools available on the account and offer first class customer support.
You can step straight in to making money with Forex and open a $50 mini Forex account with them. We do recommend though that if you are new trading you start off slowly, deposit the $50 to open your account and then start trading small amounts before risking any big money.
The number 1 thing to remember is to trade with low amounts while you learn Forex trading but most importantly, have fun!
Make no mistake about it, Forex trading is not simple. Far from it. That is why it is vital that you take the time to learn about online currency trading. If you arm yourself with the knowledge then you are in good stead to make huge profits.
The problem is that people often view training courses as too expensive and a waste of money. Whilst it is true that they are not cheap (around $400) you should never view it as a one-off payment for one course.
By joining the right course you will not just find that in the long run it will save you money (less chance of wasting money on bad trades) but it will often pay itself back hundreds of times over by making you a better and more profitable trader.
We know you may not be quite ready to invest for a full course which is why we have found the best free Forex course available. Forex Mentor offers a free 5 day mini trading course to get you on the right path to success.
Then, if you decide it is right for you you can invest in the full course. Best of all you only need to put in your name and email address in their website form (top right of the site) to get the course in your inbox. There is no reason not to get a free course!
If you have read our strategy reviews then you will see we rank this strategy service as number 2, however our number 1 choice doesn't offer a free trial and our aim in this section is to give you as much as possible for as little a cost as possible. Thats why we recommend Netpicks for a free 2 week strategy service trial.
If you are unfamiliar with strategy services then a brief explanation is that a strategy service will alert you to profitable trade opportunities. Using a tried and tested Forex system, a good strategy service will monitor in extreme detail all currency activity, alerting subscribers to every profit making trade opportunity that arises.
Needless to say that this is an awesome tool for a new trader, it allows you to start making big profits from Foreign Exchange trading without needing the complex knowledge that is normally required for profitable trading.
With the Netpicks service you can receive a 2 week trial of their service completely free of charge. You will have to submit your credit card details and you will be billed if you do not cancel before you trial is up though, so if you do not intend on paying for the service please ensure you cancel before your trial expires.
That said, take the 2 week trial and you will see for yourself that this strategy service is well worth the subscription fee as it will pay for itself with the sound trades it will recommend.
Part of the enjoyment of trading Forex, other than making money, is analysing the market and trying to spot which currency is about to fall or rise next and which trades will make you that all important profit.
Using a good peice of analysis software can allow you to spot the next big money making trade and stay one step ahead trading currencies online. Forex technical analysis is the name given to spotting trends and a good peice of software takes the hard work out of it and allows you to enjoy the fun part of making money!
The good news is that our favourite peice of software, Trading Solutions, offers a 100% free evaluation download. This will allow you to fully test the Forex software and start making money from your online trading. If, and when, you decide you need the full version to maximize your trading returns then you can upgrade the software very easily.
There is no obligation to buy, you don't even need to pass over any payment information to get the free download, there is nothing to lose so you may as well give it a try!
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