FOREX trading, individuals should follow these guidelines.
1.Determine the quality of the broker institution you choose.
Unlike equity brokers, brokers are usually attached to large banks or lending institutions because of the large amounts of capital that is required. brokers should be registered with the Futures Commission Merchant (FCM) as well as regulated by the Commodity Future Trading Commission (CFTC)
2. Request a free trial.
Before you commit to any broker, be sure to request free trials so that you can test their different trading platforms. Brokers usually provide technical as well as fundamental commentaries, economic calendars and other research as a means of assisting you. Basically, a quality broker will provide everything one needs to succeed.
3.Monitor two financial meetings to provide insight into the upcoming market.
Two important meetings traders should watch for are the federal Open Market Committee and the Humphrey Hawkins Hearings. By reading the reports and examining the commentary, fundamental analysts can get a better understanding of any and all long-term market trends it also allows short-term traders to be able to profit from extraordinary happenings.
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