Setting up Shop

Let’s log on to our trading website, http://oanda.com. There are many things to learn, but if you just want to start trading that’s what I’m about to show you. Most firms, including OandA, have two kinds of accounts. An actual trading account and a “demo” account that works the same way. If you’ve never traded before then I would suggest the demo account at first, then open a real account for maybe $100 until you become more experienced. That’s right, you can trade with as little as one dollar.

Once you’re on the home page scroll down to “About OandA” on the left side. After reading about the company, which is pretty impressive, go to their FAQ site a http://www.fxtrade.com/whyfxtrade.

Go back to the home page and select “Open New Account” under the FXTrade or the FXGame, which is their demo account. If you decide to open an actual account you need to fund it. The simplest way is with PayPal. If you don’t have a PayPal account go to http://www.paypal.com and click on “sign up.” and follow the instructions. You can use a credit card and/or a bank account to deposit funds. Then go back to OandA and log in. Go to “deposit Funds” and follow the instructions. It’s easy and it’s secure.

You must first submit a form, for security purposes, that tells them you are going to submit funds. Follow the instructions, but be sure to click on “Log in to cash management” to advise them you are sending funds. The rest is easy. You will have to pay a small fee to transfer funds. Don’t worry about it. You will soon make up this fee.

Are you ready to go? Because you’re about to enter the “big time.” It doesn’t matter if you’re just starting out with $100 or $100,000. You’re going to double your money if you follow the rules I’m going to outline.