Forex

What is the basic concept of forex?

No, forex is not for everyone, but I don't think you need to be a professional to do it. However, you do need to study what foreign money markets are doing. A lot of people sign up for forex and then trade currency by just trying to guess on whether it will go up or down, based on what the charts look like. This method is no better than gambling on a "heads" or "tails" coin toss.

The first thing you need for forex is a reputable company. One that I use is ONANDA, just google it. You have to register by using a real name and address, with proof of these things. There are many sites out there that don't ask for more than a name and email address, with no proof. Many of these sites are scams. The other warning about sites is that there are many that don't list an office location and are registered with a number in some far away place. Choose a company that can give you a real life location for their office) for them and also a phone number that you can call to reach them.

The other thing you need for forex is a certain amount of money that you can live without should you loose it. It doesn't have to be much, but you have to be prepared to loose it without going into debt. Borrowing money to play forex, or any high risk investment, is foolish.

Once you have your company and the money, you may want to try trading using the many "play" accounts (also called "game" accounts) that you can sign up for. Many companies offer these. You can register for what is essentially a trial account where you can use "play" money or "pretend" money to trade. For this it doesn't matter how reputable the company is, since you are just using fake money. I highly recommend doing it this way for a while until you get the idea, and have developed a trading style that you are comfortable with.

When you're ready to trade real money, then be prepared to loose some for a while until you improve. Again, this means using money that you can live without.

As said before, it´s not for professionals, but you can study enough to learn how to trade, just don´t jump in without knowing what you are doing.
You have to lear about:
leverage, money management, trading psychology, and you need a system to trade. I strongly reccommend you to play with virtual money before jumping in the real arena. Try the broker that´s in my profile for virtual trading and for 5 free bucks to trade in the real arena. I have been trading with them for 3 years now.
Good luck!