How to Start Trading Forex

There are a lot of early steps that every Forex trader has to take before getting started in successfully trading the Forex markets. The first and most obvious step is to actually open a Forex account so you have access to the market. This is necessary so you can determine which Forex software and which online Forex platform you prefer, which are necessary to even open a “play money” or free trading account (always recommended for the beginner Forex trader).

The good news is that opening a Forex account is not difficult. In a way, there are only three basic steps to opening up an online Forex trading account:
1. Select an account type
2. Register your account
3. Activate your account

If these three steps don’t bring a lot of clarity, don’t worry, I’m about to go through them one by one to make this process as easy and painless as possible.

Select an Account Type
There are different types of Forex accounts and different ways of opening them. These accounts can be opened either in your name, or the name of your business. You will be given choices between standard accounts or micro/mini accounts. Occasionally you might even see the offer of a managed account. Figure out which account type fits your needs and select that one.

Depending on the Forex trading platform that you have chosen to do your trading with, the registration instructions will follow and guide you through step by step. As this is occurring, you will eventually be shown a page of the Broker’s policies, which brings us to step two:

Read the Broker’s Policies
I can’t stress this enough. Don’t just gloss over it, but pay particular attention to the fine print. You may sign a contract to a broker with policies you don’t want to follow. Different brokers have different rules, so it is particularly important to make sure you’re getting a deal you can live with.

Once you’ve read and agreed to the policies, you can register. Once that’s done, you can create a username and password for your account. Right there you’re activated. While it’s not necessary to practice first, I always strongly recommend using a practice account until you get used to the tools and start consistently making profits in practice. Then you’ll be able to trade the real money with confidence.

And now I would like to offer you free access to a Forex trading system that is 89.1% accurate, so you can literally start trading the Forex today. You can access it now by going to: http://www.foreximpact.com/reports/89percent/

From Jason Fielder: Founder, ForexImpact.com

Pip Calculator

* Input the parameters for both Contract Size and Ask Price, then click Calculate to generate Pip Value.

* Contract Size of 100000 = 1 Standard Lot.

He who holds the gold “Oil” make the rules…

Another week has passed by and the Forex market continues trading. For major reports this was a relatively quiet week, with a couple nations only releasing minor reports and none of the majors (Australia, Great Britain). Even so, oil has gone up again in response to hurricane fears and even though oil is still a long way from where it was priced even one or two months ago, this is exactly the type of movement that is going to put a lot of traders and economists alike on edge.

Many of the reports that came out included surprises, some of them quite pleasant for the nations involved. Many of the reports for the USD, for example, were positive or at the very least beat expectations. This was good news for the Dollar and while some nations continue to have severe fears of recession even with fuel prices dropping overall, for others who felt like Rome was burning not so long ago, there is some tempered optimism that maybe we’re out of the worst - or at least out of the point where no more gets piled on.

Even on a “slow week,” there’s a lot going on in the markets for the traded currencies, so let’s jump into the last week in review.

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