What is needed to start forex trading? :


To start trading forex in good conditions, it is important to have the right material. Of course this is not the material that will make you a good or bad trader but it could still help to lead you to success.

A computer and an ADSL Internet connection
To start trading in the foreign exchange market, you first need to have a good quality computer. Prefer a powerful processor, high RAM and a screen at least 20 inches. You must then connect your computer to the internet. Use a fast, high-performance ADSL connection (or fiber) for optimal reactivity.

A real-time information flow
To analyze the direction of forex currency pairs, it is imperative to follow the financial news. If Reuters and Bloomberg hold the upper hand in this matter, they remain relatively expensive (around 1500 euros per month) and therefore not very accessible to small traders. If you do not have the resources to offer these flows of information, you will find on the internet sites offering, at least cost, analyzes and flows.

A financial calculator or an Excel spreadsheet
Forex trading involves many calculations, such as acceptable losses, profits, spreads, etc. To perform these calculations, it is preferable to use appropriate tools such as a financial calculator or an Excel spreadsheet depending on the complexity of the operations.

A trading log
Keeping a trading log is important to measure its performance and get back on its sessions. You can use a computer to do it or simply buy a notebook in the trade and log daily by hand your trading operations.

As you can see, the equipment needed to trade in the foreign exchange market represents a certain investment. Do not, however, ignore these elements because they are indispensable to hope to make profits.
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