Basic Requirements for trading forex

Forex Trading Nigeria

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Posted by on Thursday December 29, 2011 22:30:14:

Although I've made mention of some of these things in a couple of my posts for new comers, I just thought I should itemize them more properly in this post.

What does a person really need to start trading forex on the internet?
Here are the basic things:
- A forex platform - P
- A forex account - A
- Internet connection - I
- A personal computer - C
- Basic training - T

If I were to shorten them in the form of an acronym, it would turn out as "PAICT".

PAICT comprises of just the basic things you would need to actually trade fore whether on demo or live trade and without them, you simply can't trade.

For instance, without the internet, you can's set an entry or exit price or just make an order. So the internet is a basic or necessary requirement. Others like a computer or forex account are also important as you would need them for either virtual or live trading.

I omitted other items such as funding which may not always be necessary if you are still in the learning process and don't want to use your real money to trade yet but you would need it to do live trading.