Resources for the Forex Newbie

Forex trading can be profitable to the knowledgeable and prepared investor, but a thorough rundown of the risks involved must be made, understood, and kept in mind. Knowing a thing or two about futures or options — or other leveraged markets — would be greatly beneficial.

To help you be more organized and trade more successfully, forex trading software exists that can be purchased at many different price points. But really, you’ll still need to shore up experience. There’s just no better instruction than that.

It’s also possible to avail yourself of a “Forex Megadroid,” a robot that claims to have the ability to trade with 95.82 percent accuracy. Take your pick. If everything is new to you, don’t fret. Beyond services for news and announcements, broker-dealers usually also offer mentoring sessions for newbies. Still, mini-account trading is recommended. Last bit of advice: trading with funds budgeted for one’s basic livelihood is never a good idea.