Beginner's Guide to Online Forex Trading

Want to learn how to trade forex? You've come to the right place!

ForexBooth.com is dedicated to make the content of this site simple yet very helpful. Learning forex made easy - is our goal. Here you will find free guidance and tips to get started in trading forex. We also provide reviews of various forex trading courses and tools.

The Forex Market Today ...

Today the foreign exchange market is the world's largest commodity market – with over 1 trillion dollars worth of deals being made daily. For some idea of how big this is: the daily trade value of the combined global share markets is approximately 300 billion dollars. This makes the forex market about three times bigger than all the share markets around the world combined!

How much profit can actually be made? A well-trained forex trader can earn above-average profits of 2% to 20% or more in a single month, week or even a day!

The 5 Elements of Forex Trading ...

With that kind of daily activity, you usually find that lots of people want to take part (all hoping to make a profit!). If you are one of those people, but have always been put off investing because you're not too sure what happens in the market, the following are 5 essential elements of forex trading:

• forex trading strategies
  when you trade in anything, you need to have a strategy! A good strategy lets you decided what your short-term, medium-term, and long-term strategy is going to be. Normally, professional traders decide their trading strategy based on either a technical analysis system or fundamental analysis system. As the name suggests, a technical analysis system looks at technical theory and then decides whether it is a good idea to invest. A fundamental analysis system, on the other hand, looks at what the market is doing in other business sectors (such as import/export figures) and then uses those to decide whether this is a good time to buy or sell.
  
  
• forex trading systems
  basically a system is a computer program that tells your broker when to buy or sell. To do this, you instruct your software program to buy at one price and sell at another - when the market reaches either of these prices your broker will receive an automated instruction to buy or sell.
  
  
• forex chart
  a chart is a recorded spreadsheet tracking a currency's value, relative to its rate against other currencies. One reason why it's useful to keep a chart is because some believe that the forex market is cyclonic and so keeping a chart is an easy way to keep up-to-date with developments.
  
  
• forex broker
  a broker is the person you tell to buy or sell your forex. For maximum solutions, you and your broker should connect online so that you can carry on your trading in “real” time.
  
  
• forex market
  today the market is open for business 24-hours a day around the globe, without any one market being more active than another.

ForexBooth.com will help kick-start your investments in this world's largest commodity market and set you on your way to making good money!