To start the forex trading in good conditions, it is important to have the proper equipment. Of course this is not the equipment that will make you a good or bad traders, but it could, all the same, help lead you to success.
A computer and a broadband internet connection
To start to trade on the forex market, you first need to have a computer of good quality. Choose a powerful processor, a RAM memory high and a screen at least 20 inches. You then need to connect your computer to the internet. To do this use fast ADSL connection, high-performance (or fiber) to give you maximum responsiveness.
A flow of information in real-time
To analyze the direction that will take the currency pairs of the forex, it is imperative to follow the financial news. If Reuters and Bloomberg hold the top of the pad in the area, they remain relatively expensive (around 1500 € per month) and, therefore, less accessible to small traders. If you do not have the means to provide you with these information flows, be aware that you will find on internet sites offering low-cost analyses, and flow.
A financial calculator or an Excel spreadsheet
Forex trading involves many calculations, such as acceptable losses, profits, spreads, etc To perform these calculations, it is preferable to use the proper tools as a financial calculator or an Excel spreadsheet depending on the complexity of the operations.
A journal of trading
Keep a journal of trading is important to measure its performance and get back on his sessions. You can use a computer to do it or just buy a notebook in the trade and noted daily at the hand of your trading.
As you can see, the equipment needed to trade on the foreign exchange market represents a certain investment. Do, however, not ignore these elements because they are essential to hope to make a profit.