Posted by forex at 2:37 AM
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1. Open up a brokerage account. There are literally hundreds of options available. Whichever company you choose make sure that it is a registered Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
2. Download and install your brokerage software. Most brokers these days use a program called MetaTrader 4. This is a charting software that allows you to analyze the markets using hundred of indicators and to make trades directly from the charts. You can download it from your broker's website and install it by double-clicking on the file.
3. Find a trading system that fits your financial goals and personality. You can do your research by going to a forum such as elitetrader.com, ForexPeaceArmy.com or Trade2Win.com. All of these are frequented by professional and amateur traders who offer impartial third-party reviews of software, trading systems, newsletters, courses and brokers.
4. Set up a simulator before you trade with real money. Most brokers allow you to trade for free in a simulator before risking any real money. Once you have chosen a trading system, test it out and see if it fits your personality. Simply go to a broker's website, go to the navigation bar up top and look for the 'Download Simulator' link. Once you've downloaded the software, simply double-click on it and follow the instructions for installation.