Getting Started

Forex trading is an exciting new frontier in the world of investing that is opening up as an opportunity for both experienced and novice traders and money managers. While there are as many trading strategies available as there are strategists (and there are many!), the experienced trader knows that there is no sure-fire way to "beat the market" by sticking to any single source of news or any single approach. It takes experience to collect the right information that helps make the right decisions.

If you are not an experienced trader, follow the following tips, and though they will not reduce your risk, they will help put you on your way to becoming an experienced and intuitive trader.
  1. In a slight adjustment of an old adage: "How Does One Become A Successful Forex Trader? Practice, Practice, Practice." Take full advantage of the InterForex demo account to practice trading strategies. Pretend the money is real and begin trading. Do not forget to explore all of the possibilities for controlling your trades, including stop and limit orders, hedging, etc.

    With absolutely no risk or cost you can start trading Forex in the real market with our free practice account. The practice account has exactly the same features as the 'live' accounts have including live market rates, access to real time news, charts and reports and the ability to place trades off executable streaming prices. The practice account is funded with $100.000 USD of virtual cash so now you can have the ability to test out your trading strategies risk free and at the same time learn about Forex trading and get familiar with our trading software.

    Register for free practice account.

  2. The wide gulf between most amateur traders and professional traders is usually tantamount to one thing only: formal education. Retail Forex is a complicated financial market, the operation of which is based upon advanced concepts in mathematics, economics, and finance. Furthermore, traders usually use formal approaches to collecting and analyzing the data (about the world as well as currency prices) that is used to make trading decisions. Fundamental, technical, quantitative, or a combination thereof are examples of formal approaches.

    Beginning on your own with a good book on financial markets and analysis is always a good idea, but investing in a course or other formal education in these issues is recommended.

  3. Plan Ahead

    As with any high-risk investment, it is your duty to always know how much money you have, how much you can lose, and what the outlook on your money is. Do not let you account go unwatched so that you miss trends or margin-call conditions, for example. Check your positions regularly, and ask yourself: How much is my position worth now? What is the market doing? Make sure to note trends and perform analysis to determine your standing.

    If I am going to enter a trade, what do I expect in the end ("exit strategy")? What is my strategy in case of loss?

    Given current conditions, do I have enough capital to thrive until the next time I check? To avoid a potential margin call or emergency money-transfer procedures, make sure you have enough capital to afford some degree of unanticipated movement.

    How much can I still afford to lose? / When should I cash in my gains? Be prepared to justify each trade in non-emotional terms based on your market analysis.

  4. Try it! Once you feel you are ready-in other words once you have practiced extensively with your strategies-open your live account, make a deposit, and execute your first trade. If you feel unsure or emotional about your positions, make sure to remember that emotions may be appropriate in gambling, but in Forex, the most sound decisions are based on good strategy and realistic thinking. If you start to panic, fall back to the techniques you used when practicing with the demo system.

    Open a live FX trading account if you are ready to trade the markets for real.
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* The high degree of leverage that is obtainable in the trading of off-exchange FX transactions can work against you as well as for you. Leverage can lead to large losses as well as gains.
** InterForex is compensated through the difference between the buy and sell prices.

Please be advised, the services and products described on and offered by InterForex SA are not being offered within Canada, Australia or the United States and not being offered to U.S., Australian and/or Canadian residents or citizens, as defined under applicable law. 

Interforex Inc. and its products and services offered on the site are NOT registered or regulated by any U.S., Canadian or Australian regulator, including FINRA, SEC,