Kenny Where to begin to trade forex online?

Q: Where to begin to trade forex online?

Hey guys I wanted to ask which site which forex broker website would be a good one?

A: 

Best Answer:  Firstly you think you are ready to trade? Ensure you read this section to learn how you can go about setting up a forex account so that you can start trading currencies. We will also mention other factors that you should be aware of previous to you take this step. We will then discuss how to trade forex and the different types of orders that can be placed.

1. Learning Forex Trading Basics
a. Understand basic forex terminology.
b. Read a forex quote.
c. Decide what currency you want to buy and sell.
d. Learn how to calculate profits.


2. Opening an Online Forex Brokerage Account

a. Research different brokerages.
b. Request information about opening an account.
c. Fill out the appropriate paperwork.
d. Activate your account.

3. Starting Trading

a. Analyze the market.
b. Determine your margin.
c. Place your order.
d. Watch your profit and loss.

4. Watch your profit and loss.

Before direct stock investment, you should know your time frame and investment focus. Well amount of time required to deep research and study well about the stocks using the well defined fundamental analysis methods by legend investors.

- Buy low. Sell high
- When you hop on the band wagon, it's already too late to sell/buy
- Diversify
- Think of it as a long-term investment
- Buy blue chip stocks
- Look at the price per earnings ratio of the company as a measure of a good buying price.
- Don't invest your life's savings.
- Invest only what you can afford to lose.
- Invest only what you can afford to forget about for a long time. That way you're not tempted to sell at a loss when you're in a panic.
- You would be better off investing in a mutual fund that is managed by experts if you're not well versed in how the stock market works.