Friday, May 28, 2010

Getting started

Where to start, that's what you'll be thinking. All I can do is tell you what I did.

First of all you can go to the "get forex rebates" link above and choose a company you are happy with and download their demo platform. Literally play around to get comfortable with the platform and how things work. You can fund a live account and still demo trade. Don't be tempted to trade live until you are comfortable with your methods. Money management is key, I don't risk more than 2% on any one trade. Often only 1-1.5%.

There's lots of information available from forexfactory, babypips and the free video course links above. Putting it all together into something that works for you is the trick. It can take some time to figure out.

I started with a course from Peter Bain's Forexmentor (discount available from the get forex rebates link above). I believe him to be an honourable person giving a good course.

At the time Seth Gregory also worked in association with Peter. Seth has now branched out onto his own and the link to his site is also above. I was always extremely impressed with Seth, his methods, attitude and trading skills. I'd recommend him based on what I experienced. He has some free information and other services. If you want to get going trading live whilst you learn you need to plug into a proven system. Seth's forex active trader is an option to consider. He has a $19.99 14 day trial which would give you access to trades and if you are happy with how things are going ie making money you can consider extending month by month whilst you learn to trade.

Once you are comfortable that you have the knowledge and experience with your system, most important the temperament to trade, you can of course go live and hopefully one day join the ranks of full time traders. That's the goal, just don't put too much pressure on yourself to get there.

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