posted on Jan, 7 2012 @ 06:44 PM
reply to post by XTexan
This site offers excellent training on forex and has about every relevant piece of information you could need to learn forex. Just go through the
sidebar, I would recommend reading each article in order as it does a great job explaining what Forex is.
As for a broker, I use IBFX because I live in America and there are a limited amount of brokers you can use in America. Also just to clear something
up that I didnt know right away is that if you are American then your Leverage is maxed at 50:1 thanks to a law congress passed. The rest of the world
uses 100:1 or 200:1 but oh well, 50:1 is better for starting out anyway and you can still make some good money.
I trade the EUR/USD because it is the cheapest (~2 pips). I usually have intraday trades. If I have a definite feel for how the market is going I will
leave a position overnight with a large Take Profit and smaller stop loss in case of a reversal.
Another useful forex website is a Forex Calendar, which can be found here
BabyPips Forex Calendar
Its very easy to read and can help you figure out which news is coming out soon and how it effects the market.
Feel free to ask me any questions,