New to Forex - Step 1

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Opening a forex demo account is the initial step you as a new trader should take when first starting to trade in the forex market, or for a trader looking to test a new forex broker or strategy. For theses purposes, FXCM offers free 30-day demo accounts online. Why you not try our free $50,000 practice account?

STEP 1: HOW TO TRADE THE FXCM PRACTICE ACCOUNT

TIP:     Make sure you have correctly installed all the trading software

FREE $50,000   FREE FXCM Practice Account

TIP:      An important tool for learning forex is the Practice Account...so use it, its FREE!

Make Trade Log

01 Choose your currency pairs

02 Decide how much risk you are willing to take and how much you want to gain

03 Track the time and date you placed the trade.

04 Keep notes describing your strategy and why you chose to enter the trade.

05 Decide how long you want to stay in a trade (hours, days, weeks, months).

06 Why did you exit the trade? Was it at your stated stop or limit level, or did you get out for other reasons, etc.?

07 Experiment. Remember, you want to make your mistakes on the practice account - not with real money!

Additional tools for support:


Trading Station User Guide          Open a FXCM Account
 

Business Finance

Business Finance Forex Market is open 24hrs a day, and traded on a global scale, the question to ask is, ‘when should I trade?’. The good news is that no matter what time zone or hemisphere you live in globally, there are always good opportunities to trade.

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Small Bussiness Guide Build your own portfolio using FSS. You can use your own systems programmed into FSS while having access to over 40 other automated strategies for flexible management.

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You want instant execution of your orders and the price you see and ‘click’ is the price that you should get. Don’t settle with a firm that re-quotes you when you click on a price or a firm that allows for price ‘slippage’. This is very important when trading for small profits.


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