If you are new to Forex trading, you will want some currency trading resources you can refer to which can help lead you to success. In this article, we will go through some free ones which you can use to educate yourself which can help you get on the road to trading success.

Learning the Basics for Free

The first thing you will need to do is learn the basics of how currency markets move, methods of trading, how to place orders ETC and there is no better site than babypips.com. This site is written in a fun and easy to read style and will teach you all the basics you need to know, to get you started in FX trading.

Free Charting services

While it has good intro to charts and indicators you should also take a look at the site stockcharts.com, for how indicators work and how to apply them. For charts you can use everyday, covering all major FX contracts I like futuresource.com. This site has a nice layout and tick, daily,weekly and monthly charts, as well as all the best indicators which you can overlay.

Free Systems

You will have to decide if you want to use a mechanical system or be a more hands on trader, if you want to use a currency trading system, you can get a great free one on this site The 4 Week Rule which was devised by Richard Donchian back in the seventies and still works today, simply sign up to our mailing list and we will forward it to you.

Another good system is the Turtle Trading rules which are available free online and outline the rules that the famous turtle traders used to make hundreds of millions of dollars

Both the above free trading systems, will actually beat around 99% of the ones sold online and if you want to spend the minimum amount of time on your currency trading strategy, you should take a look at them.

Free Strategies

There are many free strategies you can use and you can sign up with many advisory companies that give them but there mostly junk. You best off to devise your own strategy and look up some popular methodologies which are:

Breakout Trading, Swing trading and contrary trading.

Then with a basic knowledge of FX charting and a few technical indicators your all set to devise a simple trading strategy for profit.

CFTC Net Traders Positions

One of the most valuable reports you can get which can show you the sentiment of the market its available from the CFTC and shows the breakdown between speculators and commercial hedgers and we have covered how to use this report in numerous articles and you should look them up.

News Sources

While you should never trade off news stories, its good to get the best news quickly and I use bloomberg.com and reuters.com. There are many other news sites but I like these the best.

Free Currency Trading Resources to Avoid

Forget Forums! I have never met a successful trader who hangs around forums and the people who like to answer queries are normally traders who cant make money and make themselves feel important by giving out their dubious wisdom.

Be very wary about reading articles in article directories most articles are written by ghost writers, who write them on behalf of vendors selling junk Forex robots and get rich quick systems.

Final Words

You can find all the currency resources you need for free online which can help you enjoy Forex trading success. The above are just a few of my favourites to get you started but I am sure you will find many more.