If you know what you are doing, forex can be very profitable, so it definitely pays to do some research before you begin. Fortunately, a demo account will afford you that opportunity. These are some suggestions to get you going and help you learn more.
Forex depends on economic conditions far more than futures trading and stock market options. Before you begin trading with forex, make sure you understand such things as trade imbalances, current account deficits and interest rates, as well as monetary and fiscal policy. You will be better prepared if you understand fiscal policy when trading forex.
Choose a single currency pair and spend time studying it. When you focus entirely on learning everything about all pairing and interactions, you will find yourself mired down in learning rather than trading for a very long time. Select one currency pair to learn about and examine it’s …