Whatamp;#39;s the best Forex site for a beginner? -

I am new to the Forex market, and I have many good resources such as: What is Forex? http://www.squidoo.com/what-is-forex However, for experienced Forex traders, how did you learn the market? The best answers are always from someone familiar with the market. Thank you. you can check your options in this site. i agree with the other comments that forex is tough on beginners. this is where this site makes a difference. other than the free ebook and the free demo account that you will get, they offer a very good deal- that of providing you a personal Account Service Manager with whom you can talk LIVE via phone, email or chat. the complexities in forex trading is such that a live help would always be welcome and available anytime you need. and you can always chat with expert forex traders in their chat room where you can get invaluable assistance should you need any clarifications. they can even set your Take Profit and Stop Loss rates enabling you to earn unlimited income but you lose no more than the amount you define. plus they have lots of other features that’s designed to protect you as a trader. You should learn to trade Forex by first paper trading so you don t risk your money. Then when you are successful at paper trading start small and do real time trades. Use a user friendly broker like etoro which enables you to visuallly watch your trades take place and has the latest news available. You say your a beginner - I have a degree in finance and have worked in the investment industry and would not advise investing in the forex markets. This is for the big boys that like to gamble and can afford to lose or gain large amounts of money quickly. It is not investing! Believe me its more than looking at candle sticks on a graph Do not buy into the how to guides they have for free on the net. I am convinced that the only winners are the people that run the Forex markets. I do not want to rain on your enthusiasm but its easier to learn to count cards in blackjack and you have a better chance at getting a good return on your investment. I would suggest using fake money until you can grasp how oil, the dollar and interest rates affect each other. Oh and how the Fed can flinch and make the markets go bonkers. Please be careful I ve traded in the financial markets for years and am a professional trader. I wouldn t touch the FX market with a ten-foot long pole and your money. Some people get rich in FX, but the VAST majority lose everything. The margin required by itself is a shocking number. If you want leverage and potential high returns without the crazy amount of risk, look into the options market. Compared to FX, it s almost boring. Good luck! There s a good place to learn called BabyPips.com. The content is really easy to understand, and it is funny! The quot;schoolquot; section is divided into grades and ranges from basics to more advanced topics. There are forums to discuss forex related topics as well as get help with your trading needs. http://www.babypips.com I personally like www.oanda.com for referencing purposes. To answer your other question on how I got familiar with it, I have undergraduate degrees in accounting and finance, plus I have an MBA concentrating on information systems and international business. Plus, I have had years of experiencing through work hedging exchange rate risk, etc. I fundamentally disagree with the other commenter. Exchange rates do not move very much on a daily basis and their movement can be predicated on real interest rates (and other items as well). It is not gambling, an astute person can do very well by using common sense. If it s something you re interested in then read all you can on it. Take a college course on exchange rates and international finance, just educate yourself. Maybe play some mock trading games to familiarize yourself with it. Good luck! I learned the basics on a free ebook that you can find at http://www.freeforexebook.org/ . Other good resources are: http://www.forextopten.com/ http://www.babypips.com/ All of these resources are free. Other good websites that taught me a lot (but aren t free): http://www.superforexsystem.com/ http://www.forexhiddensystems.com/ Good luck.