FOREX Training Online: Is it Good?

Trading the Foreign Exchange market can be done from anywhere.

You can trade whatever two currencies you desire not restricted by where you live. The market is international and due to time zone differences, it is open 24 hours a day from Monday morning in Australia to Friday afternoon in New York.

A single currency is represented by 3 letters: the US dollar is USD, the British pound is GBP, the Euro is EUR, the Japanese Yen is JPY, the Swiss franc is CHF, the Canadian dollar is CAD, the Australian dollar is AUD etc. To express the exchange rate of two currencies they would be shown as: AUD/USD 0.7445. This shows that to buy one Australian dollar you will need 0.74 US dollars or 74 US cents.

If you want to begin fx training online and learn currency trading you will first have to find a suitable broker or investment management company that you can trust and learn comfortably with. It is worth taking a look around online forums and un-biased review sites to gather enough feedback to decide what broker you feel most comfortable with. Check out how long the company has been in business, make sure they are reputable and do not have bad feedback about cutting into client's profits with large spreads or stop hunting and other dodgy broker activities.

You will, like most that learn currency trading start to run a bot or two or what are referred to as Expert Advisors (EAs). These pieces of software do your trading and analysis for you. This is basically automated forex trading software that will trade all hours of the day according to the rules that are coded into it and/or that you adjust in order to vary its performance.

You can choose to run these EAs on demo accounts before you let them trade with your real money. Many who get fx training online deposit their own money but adopt safe EA trading strategies by adjusting risk settings so that losses are minimal but profits are still able to be made. There are many forex robots or EAs available on the market and the majority of them come with full and clear instructions for people who are experienced .

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