Posted by forex at 3:33 AM
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1. Go to FOREXTrading.com for a free demo of their training programs. Students will cover topics that include how to analyze FOREX markets, the fundamentals of trading and how to control risk. After taking the courses, beginners in the industry can then open an account through the same website and begin making small trades, also known as mini-trades. Other popular sites that offer FOREX training and trade portals geared toward newcomers to the industry include the FOREX Club and FX Bootcamp.
2. Consider a training program that offers trading practice with virtual dollars. Trading International gives members simulated pages of real trading platforms, allowing students to practice in real time to experience the thrill of currency trading. Without making a huge investment, rookies can learn the ins and outs of the trading processes.
3. Try home study programs to pursue a career in day trading or just to experiment. Many professional FOREX currency traders are turning their market experience into profitable programs they teach to others. Some have created proprietary platforms from which a FOREX-trading career can be launched. Others provide a mentoring program that makes them available to students for a fee.
4. Participate in blogs and forums such as Babypips.com and FOREXBlog.org to keep up with movement within the trading community. Novice and experienced traders alike subscribe to a variety of information feeds and newsletters to keep them updated on movement in the international currency markets, Wall Street reactions to political activity and financial reports from banking and financial institutions.
5. Study for an undergraduate or master's degree in business administration (MBA), which can go a long way in jump-starting a career in currency trading. The analytical and judgment skills learned in college easily transfer to the harried world of online trading. There are no degrees or certifications required to become a currency trader.
6. Develop a working knowledge of the latest technology driving the industry while making trades as a full-time occupation or on the side as an investment hobby. There are a growing numbers of consulting companies that serve the banking and financial industries with forex trading strategies. The high-level consulting companies look for candidates with MBA degrees and training and experience in foreign trading platforms.