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I want to learn about forex trading,where do I start?

I downloaded some demo programs to start learning how to trade forex,but I look at it and get a migraine. I know nothing about forex trading or anything like it,but i am interested in getting into it,however I want to learn through a program and get some practice before getting into live trading. Are there any demo programs or free online courses to explain to me how it works and how the programs work?

Public Response to I want to learn about forex trading,where do I start?

  1. You may approach Institute of Bankers, London, they may conduct courses on Forex Trading. Forex Trading involves buying and selling of different country currencies, Forward dealings, handling Imports and Exports etc. The currency dealing requires good perception of mind with ability to decide quickly. After theoretical knowledge a good training is essential.
  2. go to the optionsXpress website.
  3. I suggest rather to start learning from demo accounts, first go and start learning from books or website what actually forex trading is, its terms and how its work. Once you have theoretical concepts then go for demo account. In this way you can learn more easily.
  4. Making money through foreign exchange has now become a profitable measure for the individuals and with the evolution of forex affiliate program; the number of traders to the forex market is increasing day by day. Being a newbie, your first approach should be to watch and judge the forex market and learn from other forex affiliate doing business here. This will save you from the real traders aggressively participating in the market, but always make sure that you are well efficient in the usage of such systems.
  5. Hello Kobi, It is really nice to hear from people who want to know what they are doing. I have seen people who dont do any research before they enter in to trading and end up loosing money. Yes! As you mentioned, demo is the best place to start your trading. All you need right now is the trading system. A system that can set your emotions aside while you trade. A system which can provide you valid entry and exit signals and not through your emotions. Also there are many programs which promise that you can start earning from the day one after completing their course. But I suggest you to have your trading system as simple as possible. Reason, the Trading GURU's try to give loads of colourful indicators which can provide fancy signals. But in my experience all the indis are lagging. They give signal only after the price action taking place. Learn simple things about trading. I highly recomment Trend line trading, Support and resistance for understanding retracement levels. This is enough to start your trading. And dont trade if you are not ready to lose your money. Coz there is lot of leverage provided by the brokers and that is the killer. Have a watch on News releses when considering currency trading. Hope this helps!
  6. Knowing the fx market is virtually all in relation to the basic principles in trading. fundamental evaluation is all about examining the implicit value of a good investment, its application in forex currency calls for going through the monetary problems that might affect value of a nation's currency.
  7. There are many places to learn forex trading on internet. The following are some of the resources you can visit. http://www.babypips.com/school/ http://www.forexbees.com Many brokers now providing videos or tutorials using which you can learn forex trading. If you open an account with them you can find those courses on their site. One of them is fxcm.com. You can check other broker sites also like fxdd etc.
  8. You may find some good info at ForexAbode.com
  9. If you want to start Forex trading during the News release. You definitely need to have an assistant what can tell you when it's the best moment to open the trade during the News. I know one free Forex custom indicator that can show actual Forex news directly on your chart just in a second after the release. So, all you need to do is download and install on MT4 platform.
  10. First you need to read a few books about Forex trading to completely understand what is Forex and how it works. You can find some websites that provide useful information's with Forex trading strategies. When start trading first open an demo account to test your knowledge and for beginners I always recommended good software to minimize risk.
  11. The best Forex trading course I know if is at London Stone Trading FX Success. They train people around the world and you get your money back if you decide it's not for you. The course is 4 weeks long and you can do it from home (wherever you are) with mentors looking at your every move to guide you. Website is www.londonstonetrading-fxsuccess.com. Good luck!