If you have low budget but you would like to trade in stocks online, welcome to the world of FOREX trading! If you would like to know how to start trade and investment with lowest risk guarantee, you can start here!
Technical Chart Analysis is the same as Stock Analysis. It is nothing but you may have to know basic economics and effect to currency exchange.
The prerequisite you must have before start.
1. Budget – Do you believe you can start with $0? You hear right. It is $0. If you don’t have familiarized with FOREX trading, I suggest you should try FOREX broker demo account at least 3 months. I recommend broker which have demo account and virtual money. They allow you to start learning free. All is real FOREX trading but you don’t really gain or lose money. It is only assumed money to start. Special for you, I recommend 2 brokers have real money for you at $5 and 1$ accordingly.
2. Computer – you should use quality stable computer to get real time FOREX trading information.
3. Internet connection – All FOREX information is real time so it should be stable high speed connection.
4. Smart computer’s table and laid back surf chair.
5. Relax yourself then start to make money on FOREX market!
The first thing to do
1. Enroll e-currency
E-currency is the internet currency exchange system. You may know PayPal, the famous internet payment gateway. Someone may know E-Gold but it has been reduced popularity and loosed value to be low price rate. The remaining serviceable is Liberty Reserve and Web money. It is up to your broker which provider they choose.
2. Enroll online trading to broker
You may prepare your application but put on table. I will let you know how to use later. Start the following step.
2.1 Enroll Marketiva
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www.marketiva.com – After review home page, go to “Open Account”. Fill-in the application form then download program named “Streamster”. After that, install it into your computer. Marketiva give you $10000 virtual money and $5 real money. Please be aware that it allows only using one account per one person and one computer.
2.2 Enroll FxClearing to get demo account
http://www.fxclearing.ca/eng/platform/demo.php - Fill-in the application form then download program named “MetaTrader 4 Platform”. The FxClearing has 2 kinds of account, Mini and Standard. Mini represents money unit in Cent. Standard represents in USD. At the first time, I recommend Mini because it starts at $1 and earn $1 at real money to trade at FOREX. During you fill-in subscription form, you have to choose “Leverage”. I recommend 1:100 at first time. I will introduce you what is it next time.
After enroll both, you have to provide identified document. You can use Passport, Identified card or any document which has your name and address on it.
