Tips for Beginners:
For forex trading, you will need a forex account, internet connection,
capital for deposit and a reputed online forex broker. The following
tips will help you how to start off with your forex trading
• Gather as much information as possible about forex trading and forex brokers.
• Read forex reviews from various websites and financial magazines.
• Familiarize yourself with forex terms used in forex trading.
• Understand the advantages and disadvantages of forex broking.
• Research for reputable online forex brokers from financial directories.
• Open demo account with couple of forex brokers to gain experience.
• Once you open real account, identify which pair of currency can be more profitable.
How to Trade?
To begin actual trading, choose a currency pair and place your order
through online forex brokers of your choice, who will then block your
purchase on the interbank market. In the mean time, keep a close watch
on the market and as soon as you think that closing the trade will fetch
you profits, communicate to your broker to close the trade. Your broker
will close your trade and will credit the profits to your account.
Source: http://www.youtube.com/watch?v=BkAOBMNyiCw
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