Firstly you must find yourself a trading platform, and there are many companies who provide one. I myself use CapitalSpreads, as I am based in the UK. You need to register with them, and place some money in your trading account. To place the smallest trade you need a minimum of around £50 in your trading account on this platform. You can use a demo account initially if you wish, which means you can trade with virtual money until you have got the hang of it and feel confident enough to use real money.
Once you start to trade there are many currencies on which you can trade. My personal favourites are Euro/USD, GBP/USD, and USD/JPY. Now you can either go long with a trade, or go short. If you go long you are buying, and if you go short you are selling. If you go long on the Euro/USD for instance you wish, and you believe, the price of the Euro to the USD is going to rise.
Once you enter a trade you can place a stop-loss on it, which means that if the trade does not go as planned your trade gets stopped at a set price, so you cannot lose any more than this amount. It is very important to always place a stop-loss on a trade.
You can also set a price that you will take a profit on, which is an option but not a must. You can also manually end your trade at any point too.
On most trading platforms there are charts which you can use to watch your trades,and that will help you see the trend, and there are various settings you can use.
The most popular are the candlestick charts and you can go to the settings and add moving averages and stochastics etc, which will help to determine where you should be trading.You can set the charts at 5 minute candles or 10 minute,or 30 minutes, hourly etc.
It is very important to use all the help that is at your disposal. It is also worth looking at the economic news for the day,as this is a very important factor in determining where a currency is heading.
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