Forex trading has made its way into the homes and lives of many people worldwide, both men and women; all coming from many walks of life. This is a relatively new phenomenon in the alternative income opportunities department.
It was only about a decade ago that the forex market made its way into our homes. This was only possible thanks to the invention and rapid spread of the internet. The technology that made online forex trading possible.
Before the internet age, trading was restricted to big players, banks, and brokerage houses, in short; only wealthy people could aspire to enter the foreign exchange markets. But the arrival of the internet and online trading platforms, most of which can be downloaded free of charge, on the computers of ordinary citizens, began to change the face of forex currency trading within a few years.
The easy accessibility to the forex markets and the ever-growing number of new forex traders over the past few years have motivated brokerage houses to improve their services and the accessibility of their trading platforms. Not only with better and more efficient software but also with new financial products such as the Mini account, which allows people to trade with a minimum margin of only $100 or less on their trading account.
Once you download and install the trading platform from your broker, there are many platforms to choose from. Through these platforms, you will notice the many features available to the trader. For example, they will show you the current prices of the most important currency pairs, plus the charting software included in the platform will allow you to perform the technical analysis needed to find good trades.
The charting tools that come with the software included in the trading platform package are really useful. They usually have all the important indicators, RSI, Bollinger Bands, Fibonacci levels, etc., and are just a click away for you to use. And yes, you can even draw on the chart. The software also includes applications for entering and exiting trades (stop, limit, etc.) and it’s all managed in real-time via your home internet connection. And of course, when you are involved in online forex trading, it is important to consider the fact that the higher the speed of your connection, the better your trading experience will be. No one wants to lose information in the middle of a tight trade.