There's a glut of currency trading information available online, but
most of it is of no use to anyone starting out as a forex trader. In
fact much of this "information" is really not information at all, but
disinformation put there to entice you into buying courses, DVDs,
videos and ebooks that promise to deliver the secrets of making large
profits in this market.

In this respect online currency trading is no different from most
other sections of the internet. There's a whole lot of information out
there, most of it bad, but some of it very good. You just have to
learn how to tell one from another.

First let's have a look at the positive side. Modern computer
technology and the spread of broadband internet access has led to the
widespread availability of the information you need to succeed in
financial trading. Most brokers now offer trading platforms and
information in the form of *currency trading charts* and their
indicators for almost any publicly quoted stock, bond, index and
currency pairing.

There are some very advanced packages available, including Meta Trader
4 and myForex, and you'll find these contain every indicator and tool
you could possibly want. There are other packages as well, such as
Sharescope, which is not a trading platform but which supplies
information on thousands of stocks, bonds, commodities, indices and
currencies. If you surf around the internet long enough you'll find
how to get hold of the tools you need to keep you sufficiently well
informed.

Now, unfortunately, we have to take a look at the negative side, where
there are all those web sites trying to convince you that it's easy to
make thousands a week trading currencies, provided you buy their
course, DVD set, videos or ebook. Promises of easy riches with an
idyllic lifestyle of luxury homes and yachts, world travel, exotic
holidays and dream cars splatter the page.

Sounds very nice, doesn't it? So why aren't the sellers of this
"information" following that lifestyle, trading just an hour or two a
day, and so on, as they promise you can? Why are they desperately
trying to sell their product instead of taking it easy and living off
their own currency trading activities?

The fact of the matter is that it's not easy at all to make regular
profits by trading currencies, least of all by day trading using a
spread betting account, which is what you'll be advised to do. The
forex market is there for the really big players. It's not made for
the small trader at all, most of whom lose their money within a few
months at most. This fact is twisted by most forex sellers into an
argument for buying their particular product in order to avoid that
fate. Don't fall for it.

You can't go into this extremely volatile market with just $300 or so
and expect to make profits by day trading or using a spread betting
account. Yet there are so many sellers of forex information telling
you that you can. I've just seen one such site blatantly telling us
that you can start with 300 GBP capital and soon be making 5,000 GBP
or more per week! The truth is that even successful forex traders
seldom earn more than 30% a year on their capital.

The vast bulk of forex traders are those working for big banks who can
trade in millions of dollars at a time. 30% is a handsome return on
anything, and when your capital is in the millions then it's a huge
amount of money. But if your starting capital is just $1,000 you
really would be well advised to stay away from forex, because you're
probably going to lose it all.

So what can you do? It must be possible to make money from currency
trading because there are real people out there who actually do it,
and they're not all fund managers working for big banks with millions
of dollars at their disposal. Some of them, and it is only a very few,
are private individuals who have become very wealthy through
financial market activities (not necessarily currency trading), using
methods they have spent years developing. It's not as glamorous as
currency trading, but who cares about glamour as long as it brings in
profits?

The only answer is to find just one of them and see if he is prepared
to offer coaching and mentoring, so you can learn what he does and do
it yourself. So start your search now. The information you seek is not
all that far away.