While this may have been true several years ago, it is no longer the case.

Forex is the most liquid market in the world, and just about everyone with an active brokerage account has forex trading capabilities. Start small and be conservative with your capital until you become consistently profitable. With terms like pips, base currency, and counter currency, most traders that assume forex is different than trading other financial instruments.

Absolute Beginner - Beginner Questions - gepahotalefi.web.fc2.com Forex Trading Forum

The truth is, when you boil it all down to the basics, trading forex is not very different than trading anything else. It is driven by fear and greed.

And we make money by using charts to determine the levels of fear and greed in the market. Like any other trading instrument, you can trade forex from any time frame from a single minute out to a monthly chart. But it is wrong to assume that if you trade equities off a 2-minute chart that you will use 2-minute charts for forex.

Most forex traders stay away from from shorter time frames due to volatility. I suggest going no lower than a 5 or minute chart at the absolute minimum. These time frames offer clean setups that allow you to capture the a major part of the overall movement. You just need enough of it to make a dent in your bottom line!

Forex trading for beginners

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