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Online Forex Trading

Picture being able to work any hours you like, day or night, from home. Picture if most of the work involved with this dream job was reading and thinking. No heavy manual work and no going to bed early so that you can get up early, unless you want to. Well, these jobs do exist. The newer ones are all Internet based, but you seem to be on the Internet anyway. You could build websites, blog, play the stock markets or you could try Forex trading.

Although each of these new jobs has its own merits, I want to talk about the Internet and Forex trading, because it has the most potential. Blogging and websites will make you some money and there is little financial danger. The stock markets are only open about nine hours a day, but Forex never stops.

It is live literally twenty-four hours a day. This is because Forex exists only in machines, there is no Forex Building in the same sense that there is a London or New York Stock Exchange, where people actually, bodily go to work five days a week.

At this stage of the game, I will suppose that you are not going to give up your full-time job and that Forex will be a hobby. Hopefully a profitable one, but first you have to learn how to get started. Go to your favourite search engine and type in ‘forex brokers’ or ‘forex platforms’.

A dozen or more will crop up and you should visit the individual websites and save three or four that you like in a Favourites Folder. Then write down there titles, for example, AC Markets, and type into the SE: ‘AC Markets problems’. You may want to discard a few from your chosen ones after doing this. Anyway, ultimately, you will come up with a Forex broker that you are content with.

Pick a broker that offers a free Forex trading account and a free practice trading account as well. A good Forex trader will supply you with free online charting services and access to reports on the currencies that they deal with. So begins the long process of learning the principals of Forex trading. The point is that you should be able to learn how to place Forex trades prudently based on knowledge that you have gleaned and test your ideas all free of charge, until you feel confident enough to risk some of your own, hard-earned, real money.

One of the good elements of Forex trading is ‘set and forget’. For instance, your research may lead you to suppose that over the next month, the GBP will rise by two cents against the USD and then fall back to being one cent ahead of where it is now. These trades can be programmed in automatically, so that if the GBP starts rising, the software buys for you and then sells for you at a given price, waits for a given fall and then buys back again. This is very useful, if you are convinced but you have other things to do, like a real job to get on with.

The main thing to remember is that you have all the time in the world, so take your time and be cautious. Learn how to play the game before you take a seat at the table and you could find yourself earning a nice little extra income.

Owen Jones, the writer of this piece, writes on many topics, but is presently concerned with Forex dealing. If you are interested in dealing with an FX Trading Account, please visit to our web site.