Tisha Fatnowna

The economic meltdown of 2008 created high unemployment for millions of people, who despite their best efforts, have not found another job that completely replaces the income of their previous positron.

These people frequently consider the idea of starting a home based business, and some of them will explore the potential of trading the Foreign Exchange Currency Market, Forex for short.

The pros and cons of a home based business have been exhaustively discussed and will not be covered here.

Instead we will focus on what is needed for forex trade to be conducted from a home office, forex broker, a computer with high speed internet connection and trading software - frequently called a Trading Platform. Also the money involved must be discretionary risk capital that can be considered expendable.

The forex broker is your key to the forex trade market. Without the broker you have no access. Brokers charge a fee for granting this access called the "spread." This is how they stay in business.

The choice of a broker, beyond the initial decision to trade forex, is probably the most critical one. Fortunately, all of them offer free trials where you can check out their service and practice forex trade. These trails run from as little as a week to permanent, which is a nice feature because even if you trade "live," it is nice to have simulation ability to test new ideas.

Computers and high speed internet connections are mainly a matter of personal preference. Any decent computer from the past five years should be able to handle any of the common and popular trading platforms. The internet connection must be fast, DSL or better, and reliable, and you should strongly consider having a back up connection to the broker's server.

Trading software, aka. "platform" is also personal. Look for one that is comfortable to look at, easy to navigate and can expand as you gain experience. There are plenty. Try them, evest com reviews look for ones you can easily customize to suit you best.

The money, or equity you use to fund you account MUST be money you can afford to lose. This is where the greatest potential pitfall to a home based forex trade business comes in: While it is possible to make money, it is equally possible, probable even, that you will lose money. Many formerly salaried or hourly employees have a difficult time adjusting to this reality.