Instructions
Things You'll Need:
- A forex account
- A broker (optional)
- Internet
- A deposit
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EURO or EURGet as much information about forex before considering trading. Forex means, "Foreign Exchange." That means buying a currency and selling it to make profit. The currencies are sold in pairs, such as, EUR/USD. You can sign up for a free Demo account and practice to trade, before you open a real account.
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Forex BooksGet familiar with forex terms used in forex trading. There are ebooks online, with lots of information to get you started. When you are comfortable with trading, open a live account, which can be opened with as little as $200.
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Forex brokerChoose a forex broker or you can trade by yourself. Make this decision based on how comfortable you feel. One of the many benefits of trading, is the convenience of trading anytime you want. You can trade at anytime of the day because the Foreign Exchange market operates 24 hours a day.
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Foreign currenciesDecide which pair of currency will earn you the most money. Some of the most popular currency pairs in forex trading are: EUR/USD, GBP/USD, EUR/JPY and USD/CHF.
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Beware of the risksPrepare yourself for losses. Expect to encounter risks of losing some of your investment capital, for the opportunity to make higher returns. Visit the forums and do Google searches for additional information, which will help you to become more successful at trading
