Step1: Maximize Your Tools

FXTSP provides you with access to a live trading platform with a virtual balance of $50,000. The account looks, feels, and behaves almost identically to the real FX trading system including price action, and trade execution.

Utilizing the FXTSP demo account gives traders the opportunity to become familiar with online FX trading. Traders can watch the market move in real time and can practice getting in and out of positions by applying different trading strategies.

The initial balance of $50,000 leaves plenty of room for trial and error. Aim for a profit before going live with a real trading account.

Step2: Risk Management

Every successful trader should know how much risk he is willing to take, and what profits should result from the trade. This is the basis of every realistic trading strategy.

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Step3: Two Ways to Trade

There are two types of traders, technical and fundamental. Both have a radically different approach to making trading decisions. Find out which camp you belong to.

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Step4: The Basics of Technical Analysis

All technical analysis starts with a few basic building blocks. With these as a foundation, you can start to make sound trading decisions.

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Step5: Applying Technical Analysis

Use Charts and Technical Indicators in order to apply Technical Analysis.

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Step6: Fundamentals You Should Know

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Step7: Psychology of Trading

The biggest enemy to most traders is not the market, but themselves. Learn four basic trading principals that will help you to avoid the four biggest mistakes that traders make.

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