The Forex market is the largest financial market in the world with a trading volume of over three trillion dollars a day. That is 120 times that of the New York Stock Exchange a just twenty five billion per day. The Foreign Exchange market simply dwarfs all other markets, and is actually 3 times that of the entire stocks and futures markets combined. That is enormous!
FOREX is an acronym often used to refer to the foreign exchange market, sometimes called ‘Forex’ and ‘retail forex’ or ‘FX’ or ‘Spot FX’ and even just ‘Spot’.
What tools do you need to start trading Forex?
To begin trading currencies, you only need a computer connected to the internet. No specialized trading knowledge is needed as you can now begin trading with the assistance of an expert advisor which is a software program that trades on your behalf. These are built by computer programmers and trading experts to trade the currency markets systematically with the limits you set and according to sophisticated algorithims that are built into their software.
Most expert advisors or EA’s are run on a free trading platforms that you can download from your broker’s website called Metatrader4. You expert advisor will run as a Metatrader4 plugin. You can either trade manually with Metatrader4 or you can let you expert advisor make the trades for you.
Some forex trading robots are easy to setup and come with easy to follow instructional videos to walk you through the setup procedure.
Click here to find out more information on the forex robots I am using!
For example, FAPTURBO or FAP (Forex AutoPilot) is a software robot or EA that trades the foreign exchange currency markets on autopilot 24 hours a day. You attach your Forex Autopilot robot to the Metatrader4 currency charts which are provided by your broker. The FAPTurbo expert advisor has 2 main modes of operation. Short term scalping strategy and long term advanced FAP strategy. Both strategies are built to the FAP expert advisor and can be switched on and off as needed.
Getting started in the forex business is very easy requiring very little start up cost. This is one of the reasons Forex is now so popular. Add to that it's immunity to the current world recession and you have a viable home business opportunity. It is recommended that you first start out with a demo account while you get familiar with trading online with Metatrader4 platform and your expert advisor such as FAPTurbo.
Using a demo account you can learn the ins and outs of trading in the currency markets without risk. To minimize the amount of complexity and in order to get started as quickly as possible I recommend you start practice trading with FAPTurbo until you become familiar with the system and are ready to start live trading. FAPTurbo can trade even while you are sleeping and there no better feeling than logging into your trading account to see how much money was made while you were asleep.
If you don't want to learn how to trade forex using forex trading robots, click here to find out about auto trading with Zulutrade.
However if you are serious about learning how to trade forex for a living, I highly recommend that you do the following, 1) go to a currency trading school, 2) go to as many seminars as you can on forex trading, 3) read as many books you can on the subject and 4) visit as many websites as you can and 5) collaborate with other forex traders from around the world.
If you have any questions about forex trading, all you have to is ask by emailing me.
Click here for FCM Data on forex brokers
Use This Simple Calculator To
Project Your Potential Profits
THE RISK OF LOSS IN TRADING FOREIGN EXCHANGE (FOREX) CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN FOREX TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS.
Forex trading offers large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex market. Do not trade with money you cannot afford to lose. Do not trade with any manual or automated trading system without first evaluating for yourself the potential risks involved in using it.
All information provided to you in this group is strictly for educational purposes and is not a solicitation to trade spot foreign exchange (FOREX). You are strongly advised to contact a qualified investment professional before making any financial decisions.