Once you finish with the download and the installation process, click on File on the top menu, and select Open an Account. This will create a demo account which provides you with live price quotes.

Trade
You will need a forex broker, preferably approved by the Monetary Authority of Singapore (MAS). Choosing a broker can make a major impact to your success, so choose carefully. Visit our free online video section on Choosing your Broker.

Most forex brokers in Singapore provide free seminars, yet another great way to learn more about forex trading. Remember, it's in the best interest of the broker for you to become successful!

The most popular forex brokers in Singapore that specialize in Forex include IG Markets, GFT Asia, Phillips Capital and City Index Asia. Email us on chief@freefxasia.com if you want us to help you get introduced to a suitable broker in Singapore.

If you have the time, talk to them all. Ask them to create you a demo account whereby you can trade as often as you like so as to get comfortable with their platform.


Join Us on Facebook

Lastly, join us on FreeFXAsia on Facebook Pages and find out how you can join other beginners who want to trade in a group together with more experienced traders.

Trading Psychology
This suggestion may come as a surprise to you if you haven't had first hand forex trading experience as yet, but a large part of being successful at trading is managing your psychology and emotions.

Fear, greed, and anger, to name a few, could wipe out all your gains or even your capital. Or, you might find yourself prematurely closing your positions for small gains as opposed to smarter ways of protecting minimum profits while trailing for bigger wins.

As they say in life it all comes down to attitude and process. The online training we are providing here gives you a good insight into the right trading process, but your mental attitude will largely determine how successful you will be.

Let us look at a simple scenario, and tell me afterwards how you feel.

Say your analysis suggests EUR/USD to go up say minimum profit target of 15 pips with a 1:1 risk /reward ratio. You enter in a trade.


The price action goes up by 3 pips, then quickly comes down by 9 pips. The price climbs up again another 3 pips. And then rapidly moves down another 16 pips hitting your stop loss and gets you out of your trade. Momentarily, the market starts to climb up again slightly above the level you had originally entered. How do you feel now? Well, say you decide to watch the price action for a little longer and you find the price shoots up another 50 points making an all-day-high. Are you able to describe your emotions for this scenario, and how will they impact your trading style?

To do adequate justice to this topic, we would strongly recommend reading Study Guide for Trading for a Living: Psychology, Trading Tactics, Money Management