Forex training videos are available on sites for free so that you do not have to spend lots of money on courses to get your Forex training underway.  Bloomberg is a site that you can get training videos on a variety of related topics.  You can learn about Forex technology and concepts, the retail Forex system, understanding trading pairs of currency, volatility in currency trading, and other important explanations of Forex terms.  If you are new to Forex software and Forex trading strategies, you will find tutorials on these aspects as well as explanations of charts, technical Forex trading, and indexes to predict trends.

No matter what aspect of Forex that you require assistance with, you will find a video tutorial to assist you.

About trading platforms

There are Forex trading platforms for every computer operating system and the majority of them are available for free.  However, receiving the assistance of a broker usually comes with a fee, as does access to more advanced options and features in the program.  Investors who use trading platforms can get currency quotes, Forex charts, and ordering interfaces through the programs.  These platforms usually include market history data to help you decide how best to place your orders.

Selecting the best program for you

When you are trying to select a good Forex trading platform, there are several things you will want to consider.
 
•    Does the platform have a fee for additional features that you will need?  If so, are these fees affordable?  If not, you will want to shop around. 
•    Does the program offer back-tested strategies?  These investing recommendations are based on formulae that have been tested against previous trades and market trends to see if they work.  Back-tested strategies can be very helpful to new investors.
•    Can you open a demo Forex account before purchasing the platform?  A demo account gives you a chance to test the program on imaginary trades before you buy it.  Taking advantage of this can help you decide if you like the program, and help you get used to how it works.

Before spending money on an automated forex trading system, make sure that the system has been used for some time and that its success can be verified.  The system may not be able to guarantee that it will make you profit, but it makes sense if it has the ability to make money. 

You should expect a good automated forex trading system to make a compound gain of between 50 and 100 per cent per annum and a drawdown of between 20 and 50 per cent over a month.  Remember that trading with an automated trading system is best carried out over a long period.  You should also make sure you know how the system works to make the profit you want from it.

If you have made the right choices, you should be able to use your automated trading system for less than an hour a day and enjoy success in your currency trading.

Rate Fluctuations

Since the Forex market includes the national currencies of developed countries, the rate at which each is traded can fluctuate wildly, depending on current events involving that country. For example, if a nation suddenly experiences a natural disaster, its currency may fall rapidly in value. Investors who are watching these events unfold may well decide to sell that currency and purchase another.

Potential Triggers

A number of events can trigger a currency rate fluctuation in the Forex market. Economic crises, international conflicts, natural disasters and even a change in political leadership can affect the value of a national currency. Since these events can occur with little or no warning, some traders choose to purchase automated Forex trading software, which includes up-to-date market news and information. Product summaries, such as CitiFX Pro, are designed to help investors decide which platform to buy.

Forex brokers do not charge commission, as they instead make money from the spread. The spread is the difference between the purchase price of a currency and the price of selling it. All brokers have different spreads; the lower the spread the less money the broker will receive.

Different brokers offer different trading platforms and most offer new traders the chance to trial their platform for free before signing up. They may also offer extra tools, such as historic data, technical advice and calendars. Brokers also vary in the amount of leverage that they give clients. Leverage is the amount of money a broker will lend to traders. Traders with less capital might choose to go for a higher leverage, but less leverage equals less risk.

Most brokers offer several different types of account. Mini accounts are the smallest and allow investors to trade with as little as $250, with high leverage. Standard accounts vary on leverage, but are suitable for those with deposits of a least $2,000. Premium accounts may be on offer, which also vary on leverage, but require much larger deposits. Holders of premium accounts often benefit from extra services and tools.

Forex is similar to investing in stocks, but has the advantage that not all currencies lose value at the same time, unlike stocks. Currencies are traded in pairs and in every pair one will always be higher than the other. Pairs are shown as ratios, as in GBP/USD, which is the British pound per US dollar.

Brokerage firms act as go betweens for buyers and sellers. The differences between what the broker charges one party in a sale against what it charges the other is called the spread. The spread is, for many brokers, their profit in the transaction. Some brokers offer trades with smaller spreads, but charge a commission.

Investors can learn forex online or hire a professional to manage their account for a commission on the profits.

The system is based on price variations between currencies, which are always quoted in pairs. Fluctuations in the foreign exchange market, due to factors such as inflation or industrial production, will determine whether a currency pair should be bought or sold. An example of a typical currency pair is the Euro and US Dollar, which are displayed as EUR/USD. Predictions are made based on the value of one currency against another, so if a trader expects Currency A to increase in value against Currency B, they will purchase Currency A using Currency B. If the exchange rate increases, as they have predicted, it can then be sold back at a profit.

The Forex market is increasingly the favourite market on which to trade, in comparison to the equity market, largely due to its accessibility. The foreign exchange market or Forex, is open 24 hours a day, excluding weekends, so traders have easy access, both around the clock and internationally. In addition, anyone who is new to the market can start by trading a couple of currencies and work their way in to the trading arena without having to deal with 5,000 stocks, as is the case in the equity market. 

The beauty of the automated system is that there are several controls that can be put in place to limit exposure to fluctuating market conditions.  Limits can be set on the number of open trades at any one time, the amount of capital that can be leveraged on any particular trade, profit and loss margins and even hours of operation.  This way, if a trader is not comfortable with trading on the Asian market, it can be excluded without affecting the European or US markets.
 
Using an automated Forex system can be a good way for a new investor to make informed trades while learning the market dynamics.  It can also significantly reduce the amount of time an experienced trader spends researching trades.    

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