Real Time Forex Trading

Written by Jacey Harmon
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In order to trade the Forex market in real time you will need to have the necessary tools. First and foremost you must have a reliable computer. Along with a fast, reliable computer you need to have access to the Internet. Ideally your internet connection will be a high speed broadband or DSL connection. Serious traders would be well served to have a back-up dial up connection in case of network failure.

Once you have the physical equipment to access the Forex market you will need an access interface. Online currency broker/dealers will offer free downloadable software programs that will act as your connection to the market. With these trading platforms you will be able to receive live real time quotes as well as live charts. Common features for many trading platforms include: order placement, account management, and margin calculation.

Real Time Forex Paper Trading

A majority of online broker/dealers will allow you to demo their trading platform with real time data feeds. They will give you a "paper" $10,000 account and let you trade the cash like you would your own. This offers two benefits for consumers: application testing and strategy testing. Getting to preview the trading platform prior to depositing funds will eliminate the hassle of closing the account if you don't like the platform.

Testing your trading strategy in real time offers tremendous psychological and financial benefits. Psychologically you will be able to find out if your trading strategy is sound, possibly increasing your confidence. Financially you get to experience trading without risking any of your hard earned capital. Naturally, paper trading isn't exactly the same as the real thing but you can get an idea of how sound your strategy is. Once you have access to the market, you can begin to learn the various trading strategies and analysis techniques.

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