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I believe you should have some education in Business Finance. Maybe even a finance degree. You may also be able to start as an apprentice to get some good experience in trading.
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What credentials do I need to have to pursue a career in Forex Trading in NYC?
You don't need a specific degree to become a Forex trader, although some business training would probably be helpful. Go to http://www.ehow.com/how_4421285_become-forex-trader.html for a comprehensive guide on becoming a Forex trader.
Is becoming a forex trader going to make you money?
It depends on if you know what you're doing. You can go on their website and open a training account where you will have virtual money to deal with to see if you would be able to make money.
Is forex solutions a good idea for me?
I believe Forex Solutions would be a great place to start. Any practical training you can receive before jumping into the "Big League" would be to your advantage.
What You Should Know About Forex Managed Accounts?
Many people who have chosen to become investors have also chosen to take advantage of one of the largest financial markets. Those who have a Forex managed account can use the account to take advantage of a forex trader who makes all of the trading decisions for new investors. This allows the new or average investor who does not have any experience to enjoy the benefits of the stock market. A Forex managed account can allow any new investor to know what it feels like to have the expertise of a professional trader.How It WorksA managed forex account almost works in the same way that a traditional mutual fund would work. A group of investors can give the saved investing money to a management company. This management company hires a professional trader and puts that trader in charge of the money. The job of the professional trader is to watch the market and make any available profitable trading decisions for the entire group. In some cases, each trader has a separate account set up for his or her money. This account is designed to take the exact same trades as the professional trader. In other cases, all of the money from each investor is combined to make one very large account.Benefits of a Forex Managed AccountThe benefits of a Forex managed account include the fact that investors can make money in this investment market without needing to learn how to trade in the forex market. This market is extremely complicated. The average new investor may not make the best and most profitable decision with the investment money. This managed account can allow traders to take advantage of the experience that a professional trader offers. In addition, the new investor does not need to sit at a computer all day in order to make money. He or she can make money any time that the professional trader is working on the account.The RisksAlthough a Forex managed account has a lot of benefits, one should be aware of the risks. For example, the success of a Forex managed account depends mostly on the ability of the professional trader.
Where can I obtain some good forex training?
The Forex website offers many FAQ articles and help for people who are new to the website. I would start there and then if you still have questions, seek out an online forum for people who trade stocks online.
Forex trading hours Sunday?
The forex market is open 24 hours a day in different parts of the world, from 5 p.m. EST on Sunday until 4 p.m. EST on Friday. The ability of the forex to trade over a 24-hour period is due in part to different international time zones. If you need technical analysis Click here
How do you become a Authorized Forex Dealer?
This would depend on the country you are in. Usually a license with the central bank, or monetary authority is required.
How much does proper training cost on how to trade forex?
The price will vary considerably depending on what you personally consider a proper amount of training. The minimum would be a hundred dollars for a couple day course, up to a full thousand.
Training required to become a basketball player?
Where would you get any training or an education for basketball?
Where can someone get more information on day forex system trading?
The Day Trade Forex System has an online training session with step by step instructions for beginners. That would be your best bet for a beginner. Many online sites state that you can start trading "risk-free".
How do i invest in forex market?
Investment in Forex comes in various ways:Trading Capital: This is the basic fund required to buy and sell currencies to make profits. A live account has to be opened by you with a Forex Broker where you deposit the trading capital (funds) in the currency accepted by the Broker, which is usually in Dollars, Euro or British Pound.Invest through Managed Account: Here you deposit your capital or trading funds in a dedicated or special account controlled by an expert trader who trades with the fund on your behalf, and takes a percentage (fee) from the profits made. In this case you only invest the funds while someone handles the trading for you.There are different forms of Managed Accounts in Forex Trading.Forex Resources: This has to do with spending some funds for Forex Resources, which would aid or complement the success of your Forex investments. This includes Forex Robots (EAs), Signal Subscriptions, Paid Educational Courses/Materials, Special Indicators, Financial accessories, Computer hardware & accessories, e.t.c. These materials are quite necessary for any serious Forex trader. Investing with the capital alone is not sufficient to get long term returns.
What exactly is forex?
Forex stands for foreign exchange, i.e. the currency of any country anywhere in the world, such as the US Dollar, the Chinese Yuan, the British Pound and so on. The concept of forex trading implies that one currency is exchanged for another; hence it is also called currency trading. There exists a huge international forex market where currencies are bought, sold and traded. The forex market is one of largest financial markets in the world. And the amazing thing is that Sunday to Friday, it is a 24 hour market, it does not close daily like the stock market. Further, it is an international market, so it is bigger than almost any domestic stock market could ever be. Speculators on the forex market make money depending on the movements of the market and many have their own forex trading strategy. The most widely traded currencies are the US Dollar, the Euro, the British Pound, and the Japanese Yen. As you can see, these are the world's most powerful economies, implying that due to the amount of trade going on in these countries, businesses in these countries need plenty of foreign exchange. As a speculator or forex trader, one would take a position on a country, depending on what one believes are the future prospects for that country and then either buy or sell its currency. For instance, if you believe that the US dollar will depreciate against the Euro, as a forex trader, you would sell US dollars right now at a higher price with the expectation of buying them from the market at a lower price when the US dollar depreciates. You will make the differential between the higher price and the lower price per dollar that you sold. Since you did not actually have stock of US dollars at the time you sold, this is called a short position. An understanding of factors that go into successful forex currency trading is essential when you decide to become a forex trader, or maybe eventually a broker. The main factors that interact to form the basis for the trade are time, currency, interest rates and exchange rates. A solid understanding of these elements and their interplay is what makes a good forex trader. The internet is a big driving force in the increased popularity of forex currency trading. With the introduction of the internet into every home, the average person now has gained access to the huge forex market. Earlier a playground for rich individual investors or huge institutions like financial companies and banks, the international forex market is now open to you and millions of others. And people are already tapping it to make their private fortunes.
