Posted by Binary Options Questions on Oct 7, 2011 in Forex | 3 comments
Since the forex market is an OTC market there is no official website. But some sites may be better than others when it comes to how much information you can find out. Try checking out http://www.daytrading.net/category/forex/
Hope that helps.
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The forex market is a global market with trading that occurs all over the world. As such, there is no single, “official” website that provides information on forex trading.
It’s like the stock market. Similar to forex trading, you won’t find an official website on stock trading.
With that said, you will find many, many “unofficial” websites on forex trading all over the Internet. There are pros and cons to this…it’s great that there are so many websites on forex trading. That means a wealth of information to dive into and learn.
However, since anyone and everyone can post information on forex trading, you’ll encounter good information along with the bad. It’s really up to you to try to filter the “wheat from the chaff”, as they say.
This will come from experience, and using some plain old common sense.
For example, if you come to a website that promises forex trading as a way to “get rich quick”…run, don’t walk, to the nearest exit. That’s most likely a scam because the reality is…
** Forex Trading is NOT a way to get rich quick. Period. **
Get-rich-quick is only reserved for lottery winners, and there are not too many of those folks among us.
So for the rest of us, success only comes to those willing to put in the hard work and effort. Forex trading is no exception.
There is a pretty big learning curve with Forex trading. And that learning curve consists not only of acquiring knowledge, but also gaining valuable experience as a trader.
All can be done with minimal risk to your hard earned cash…
Information on the Internet is free (for the most part…and remember what I mentioned…if it sounds too good to be true, it probably is).
When you’re ready to start trading, start with a demo trading account onlyl, where you’re risking only “paper” (not real) money.
And even when you’re ready to start trading with real money, start only with a *micro lot* trading account, where you’re risking pennies instead of dollars.
See where I’m getting at here?
** Forex trading is very risky, especially for beginner traders. **
The only way to learn without losing your shirt is by taking the above, very conservative approach.
One other piece of advice…
When you are trading with real money, only risk money you can afford to lose. In other words, never trade forex with your rent money, food money, or any other “cannot afford to lose” money.
Take the necessary time and effort it takes to learn forex trading, and you’ll increase your chances for success.
no. every broker will have its own website. just be careful to choose a legitimate one. all the best.
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Posted by Binary Options Questions on Oct 7, 2011
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