With over 5.3 Trillion traded daily OTC (Over The Counter), it’s no wonder that Fx online trading has become so addictive during the recession where a simple trade can deliver leverages as high as 100:1 with sensational returns – and stunning losses.
The first month is make or break time for Fx novices who with little or no experience make the mistake of using money with they shouldn’t and lose what savings they had in a blink of an eye.
Of course some get lucky, but discretional trading will not out live mechanical trading as the discipline just isn’t there.
If you are brand new to Fx online trading then it is essential that you equip yourself with the following tools when you choose your trading platform:
- Make sure you are given personal one-on-one training with which ever platform you choose to trade with. This training will be conducted through an online chat system.
- Make sure you ideally receive a free guide to begin with to familiarize yourself with all the glossary terms and Forex chat.
- Make sure you have access to a tool which will give you information on which currency pairs are being trading successfully and the aggregate structure of these deals.
- Make sure you receive SMS alerts so as to keep minute by the minute tabs on any important fluctuations.
- Make sure you receive daily reports to assess each days progress.
- Make sure you are advised of signals on all majors, golds and oil.
- Make sure you have a good affiliation with your personal dealer.
- Ensure that you receive higher leverages than normal Fx online trading platforms.
- Request custom made technical reports tailored to your style.
If you are fortunate to have access to all of the above 9 trading tools then this is the fundamental key to being successful at Fx online trading.
In fact there is one Forex company offering these courses for “free” during the credit crunch, plus they are giving away $100 to anyone who registers. Check out our table.