The currency market has the most leverage of any financial market in the world. You can put in $1 and get $100 of leverage or you might use $1000 and get $100,000 of leverage. This is one of the reasons that makes the currency market so interesting, exciting, and dangerous.
A person can get started in the Foreign Currency market with a few hundred dollars. There is a catch in trading this market: you must know what you are doing. Nothing will empty your wallet faster than the Forex market if you
are not properly prepared.
The currency market is easy to trade and huge amounts of money can be made, but it is not for every one. You cannot have a faint heart or be reckless either.
First you need to learn the few basic rules of how the market works and you need to have a simple method that can consistently produce more profitable trades than losing trades. The biggest challenge a new trader will have is his ability to make a trading plan and have the discipline to stick to it.
Most new traders will be whipped here and there looking for the Holy Grail to trading. There is no such thing in trading. They will not give a system enough time to work for them before they are off looking for something better. It is good to look at other methods of trading but first you need to get a good foundation to build upon. Get some good basic skills then when you look at other methods of trading you will see new insights into how to use your existing strategy. You will find that you probably have all the tools you need right in front of you to start with.
Do not deviate from current trading plan. The studying of the market should be done on a systematic and steady basis. Most of your information gathering can be done on the internet, going to nearby trade shows, or signing up for free webinars.
There is no rush. The market will still be there. Continue to learn, have patience, gain discipline, and practice to develop the skills necessary to make the huge money that is available. Greed will destro, Skill will win.