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Chapter 10: The Best Forex Trading Tools

These are the best trading tools that I recommend. Also get the process for starting as a Forex trader.

Congratulations! You now know the basics of Forex trading.

Now that you're no longer a complete beginner, it's time for you to choose your tools and get to work.

Before I get into the tools, I would suggest doing things in this order: 

  1. Setup a demo account at a broker that you will eventually trade live with. Place some trades at that broker. This will give you practice with using their platform and executing trades.
  2. Get educated. Learn from books, forums or online courses. Choose a couple of trading strategies that you think will work for you.
  3. Test those strategies in backtesting and demo trading. Never risk real money until you have had proven success in testing first.
  4. Once you are able to demonstrate consistent results with testing, only then should you open a live account and start trading with real money.

Now that you know the process, here are the best products that I recommend in each category.

Happy Trader

To continue learning more, visit the blog.

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Trading Guides

How to Backtest a Trading Strategy in Any Market

The Heroic Guide to Forex Hedging for Beginners

How to Figure Out Your Trader Personality Profile

The Forward Testing Guide for Beginners

How to Create a Precise Trading Plan (with PDF worksheet)

About Hugh Kimura

 About Hugh Kimura

Hi, I'm Hugh. I'm an independent Trader and I started Trading Heroes in 2007.

Before starting this site, I worked at the trading desk of a hedge fund, at one of the largest banks in the world, and at an IBM Premier Business Partner.

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