Before I Started Forex Trading

I entered live in forex trading on 18 December 2008. Before I decided to enter live, there are a number of things which I had done.

Entered Live: Trading with Capital Invested (real money)

Step 1: know what exactly is forex. The information can be found through searches on the internet. There are even free online tutorials to guide the greenhorns.

Step 2: try out demo trading. Almost every good broker provides a demo trade, whereby you can have a taste of trading using virtual money. Also all the quotes in demo trading are given per real-time quotes by the broker.

Step 3: hit on the forex forums. There are experienced traders who are sharing their trading system on the forums, search these systems, find the one which suits your style and able to help you gain from the demo trades.

Step 4: before you enter live in forex trading, determine and only invest the amount of money that you are willing to lose. Understand how your broker works, from demo trading in step 2 and read every info that may concern you as an account holder on the broker's website.

For the next few posts, I will be focusing on details for each step, and how I had completed them.