Step 1: Figure out how much money you have to invest. This should be money that you can afford to lose. Most people can not afford to lose any money. Make sure that losing this money won’t devastate you financially.

Step 2: Make sure the course costs less than 50% of the money you have to invest. The cost of the course will not be invested directly in the market. You want to put most of the money you have to trade into your trading account.

Step 3: Make sure that the course does not have any hidden costs. You do not want to have to pay for a subscription. You should also find out if the company that sells the course has any paid subscription type services. If they have these types of services, chances are that their system will eventually require that you use them. (Free resources however, are always great!) Read the rest of this entry »

This lesson will focus on Technical Analysis. This field of knowledge is probably the largest in the Forex trading world. This lesson will explain what Technical Analysis is and what it does. I will also give you a basic technical trading strategy.

There are two main types of analyzing the Forex market. The first type is technical analysis. Technical analysis is a way of using historical price data in different ways to predict the future price of a currency pair. Technical analysis relies on price charts and various technical indicators to make predictions. The main assumption of Technical Analysis is that the historical price data reveals
patterns that repeat themselves over time.

Fundamental analysis is also a popular way of analyzing the Forex market. Fundamental analysis examines different facts about the economy to predict price movements. Read the rest of this entry »

“Can you trade the Forex for free?” That is a question that a lot of people are asking, but nobody is answering. But seriously friend, do you think it is possible? I am going to discuss this question in this lesson.

I want to explain the meaning of the question. When I mention “trade the Forex for free”; I am referring to the actual costs of the information & software that you need to make Forex trades. It would be ludicrous to imply that you will not need investment capital (money) to make your trades.

If you want to make profits in the Forex - you will need some money to get started trading. I am going to show you in this lesson (and lesson #5) how you can get started trading with as little as $300 in a mini- account. When you stop to think about an investment opportunity, $300 is nothing when you compare it to the kind of money that can be made in the Forex. Read the rest of this entry »

In this lesson I am going to explain a few basic concepts about the nature of the foreign currency market (Forex). I want to remind you that this is not a comprehensive introduction to the Forex. I am simply trying to go over the crucial basics. As you read through this lesson (and the following lessons) I want you to do one thing. Just read. I do not want you to take notes or worry about remembering any specifics. If you do not understand something, skip it. You have these five lessons as a resource, which you can review later. A lot of people will spend several pages introducing the Forex by giving an
historical perspective. For a Beginning Forex trader, this is a waste of time. It is interesting to learn about the who, what, when, where and why of the Forex.

Historical knowledge about the Forex will not help you to become a Forex trader! I will make one important point before moving forward. The Forex plays a vital role in the world economy and there will always be a tremendous need for the Forex. International trade increases as technology and communication increases. As long as there is international trade, there will be a Forex. The Forex has to exist so a country like Japan can sell products in the United States and be able to receive Japanese Yen in exchange for US Dollars. Read the rest of this entry »