Profit Guide to Forex
Forex Profit Systems

What do I need to start forex trading?

I came across a site that talked about forex trading to make money & it took me to a site that sells an automated forex trader, skeptical I googled it & it got good reviews. But if I do purchase this forex trading system what else do I have to do to start making money? Do I have to open an account? What exactly do I have to do? I'm completely new to this. (all criticism & unrelated answers will be ignored v_v)

Public Comments

1. Most offers to make money are scams - you need skill to make money and you won't aquire that skill overnight.

You have to open an account to trade.
If you have no experience and set a bot to trade for you - your most likely going to lose all your money.

I create my own trading software myself - this is my blog:
http://forexindicators-metrader.blogspot.com/

I teach technical analysis and write manual trading indicators. stay away from bots.

2. After purchasing their system you have to create account in forex broker site like F.B.S, hotforex etc.

But please before trading read their manual.

I hope its help you.

3. http://www.forexoma.com/what-is-forex-and-how-to-make-money-with-it/

http://www.babypips.com/school/how-you-make-money-in-forex.html

Evolved Forex Trading: Step-by-step guide to FOREX trading with many explanatory illustrations. It is intended both for beginners and advanced FOREX traders, allowing you to by Oleg But, Adam Burgoyne, Carina Zhiteneva and Michael Owen
available on Amazon...

4. Hello,

I see you are very green in Forex trading.

First of all, do not pick up the first one automated Forex system.
Here are a lot of them. As a Forex software developer, see mine Forex robots and strategies.

Here are websites:
* http://www.forexeasystems.com/
* http://forexthor.com/

Before any Forex trading, I advise you to learn the basics of Forex trading at Babypips school.
There you will learn the basic structure as well as get knowledge how to implement technical analysis in your trading, and so on.

Next your step is to choose the right broker. It's not a secret that choosing the "right" broker is 75% of your success. Here is the article: http://pipburner.com/choosing-a-forex-broker-using-a-rating-system/

Alternatively, browse through the internet and find feedback about Forex brokers.
Then, try to practice with your new Forex software on demo account (not real money account).
If software doesn't work for you, make a refund.

REMEMBER, high-quality software has at least 30 days refund policy. If it doesn't, stay away.

Only after all these stages, start trading on real account.

Best regards,
Alexander.

5. Of course it got good reviews. They were written by the people trying to sell the system.

If any system really were that good, they would sell it for millions to a hedge fund.

I love your statement that all criticism will be ignored. I trade forex and when I win there is somebody on the other side that looses. I have often wondered who those people are. Now I know.