Forex info1

Forex info : Six Steps to SuccessStep 1. Choose an online Forex FirmWhat to look for in an online Forex Firm:
1. Low Spreads.In Forex Trading the ‘spread’ is the difference between the buy andsell price of any given currency pair. The lower the spread savesthe trader money. Most firms offer 4-5 pip spreads in the MajorCurrency pairs. The best firms offer clients 3-5 pips.
2. Low minimum account openings.For those that are new to trading, and for those that don’t havethousands of dollars in risk capital to trade, being able to open amini trading account with only $200 is a great feature for newtraders.
3. Instant automatic execution of your orders.This is very important when choosing a Forex firm. You want instantexecution of your orders and the price you see and ‘click’ is the pricethat you should get. Don’t settle with a firm that re-quotes you whenyou click on a price or a firm that allows for price ‘slippage’. This isvery important when trading for small profits.
4. Free charting and technical analysisYou need a firm that gives you access to the best charting and technicalanalysis available to active traders. The firm that I recommend givesclients FREE professional charting services and even allows traders totrade directly on the charts!
5. High LeverageYou want high leverage—the ability to trade a large amount with a smallmargin deposit. Some of the best firms offer .25% or 400:1 leverage.
6. Hedging CapabilityYou want the flexibility of opening positions on the same currency pair inopposite directions without them eliminating each other and withoutmargin increase!