The best place for online trading

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The best place for online trading
http://www.plus500.com/?id=38000&pl=2
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To the layman on the street, the foreign exchange market is often referred to as an online trading
game. This reference arises given the fact that foreign exchange trading takes place over the
internet where orders can be placed with merely a few clicks of the mouse. Unlike what most
people think, getting into the online trading game is actually a relatively easy process.
Getting Started In Online Trading Tip #1
The first step to getting into the online trading game would be to search for a credible online broker
with which to open your online foreign exchange trading account. As trades often involve large
sums of money, it is important to be sure that your broker has a credible reputation.
Typically, the broker should be a registered FCM (Futures Commission Merchant) with the CFTC
(Commodity Futures Trading Commission). Read online reviews if you're not sure where to start.
Also, your online broker should typically be an established firm, with years of experience in the
foreign exchange market.
Getting Started In Online Trading Tip #2
The next step would involve determining how much money you would wish to put inside your
online foreign exchange trading account. Most online brokers offer a variety of accounts, catering
to different needs. A mini account usually requires a few hundred dollars while a standard account
could involve amounts between $1,000 and $2,500 or more.
At times, your broker might need you to come to terms with a margin agreement, which allows
them to step in should they consider the trade you are making to be too risky. Most brokers also
provide the service of linking your bank account to your online trading account, allowing you to top
up on your investments from time to time.
Getting Started In Online Trading Tip #3
Now that you have your account, do you begin trading right away? The answer is no.
Doing your market analysis homework is extremely important especially if you are new to the
world of trading. Remember, the foreign exchange market is not a Las Vegas casino, and should
never be treated as one. Look out for various resources pertaining to foreign exchange trading.
The internet is a very good source of such reads. Understand the basics underlying a foreign
exchange trade.
It would also be helpful for you to borrow or purchase books covering topics relevant on technical

2. analysis. Foreign exchange traders study a whole list of charts to search for buy-sell signals in
guiding their trading decisions. Some of the indicators you might want to look into would include
the Moving Average, MACD and the Stochastic Oscillator. Charting software can be easily
downloaded from the internet to guide your next trade as you put the methods used in technical
analysis to make your next trading decision.
Getting Started In Online Trading Tip #4
Upon completion of your market analysis homework, it is time to put what you've learnt into
practice. Most online brokers offer practice accounts, where you use "paper credits" to make real
time trades. Take such practice sessions seriously by learning from whatever mistakes which you
might have committed along the way, while constantly seeking the advice of well-informed
professionals to further refine and hone your investment skills. Developing yourself into a
sophisticated, well-informed investor is by no means easy and is often the product of hard work,
experience and critical evaluation of past failures.
To round things up, it is easy to get into the online trading game. However, it is necessary to put in
hard work and commitment in order for you to succeed at the online trading game and to get the
most out of online foreign exchange trading.
John Callingham is an authority on Forex Trading, providing valuable advice on how you can learn
about forex currency trading
Click Here to gain FREE access to his Forex Trading secrets when you sign up for his Forex
Trading newsletter.
Article Source:
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The best place for online trading
http://www.plus500.com/?id=38000&pl=2
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