Let me start with being very honest with you. You will lose those couple of thousand dollars in first few weeks of trading. Sorry if that sounds harsh but this is the reality of 95% trades who starts in Forex.

However what you will learn from this experience is invaluable. I’ll not spoil that for you right now but I would recommend reading Trading Psychology books. Mark Douglas – The Disciplined Trader is a must read.

Back to your original question, There is nothing wrong with higher leverage as long you use Money Management. Try not to risk more than 2% of your capital in one trade and overall 9% at any time.

Regarding brokers look for the ones that are regulated and offer tighter spreads on Mini Account. FXCM is not bad to start but feel free to ask around. You may also want to consider brokers that offer MT4 charting. Oanda is also quite good with their flexible trade size.

Hope this helps.

you may check on this source. they enable their traders to trade with small amounts plus they have innovative tools exclusively for use only by their traders which aim to make online trading easier and more transparent. these tools provides traders a clear and complete picture of all profit/loss scenarios, see what the other traders are trading, see the popularity of a currency pair, the deal direction and structure of an open deal. they even give special privileges and terms to frequent traders. all the best.

Hi there…

Thats good to know that you are so keen in learning forex trading. The online trading environment for foreign exchange encompasses the largest, most dynamic capital market in the world with more than USD 3 trillion traded daily. The Forex market is a continuous, 24/5 marketplace open from Sunday afternoon (4 PM EDT) through the close of the US markets on Friday (5 PM EDT). The Forex market is where investors can trade one currency against another currency

As forex traders we can never know what price is to “low” and what price is to “high”. Don’t be afraid to join a trend. I know that psychologically this can be difficult sometimes. You are always afraid that you will be entering the trend at it’s end. This rule is important but must not be followed blindly but rather smartly. Suppose you are day trading the EUR/USD. You know that the average daily range of the pair is 90 or 100 pips. If your system is telling you to go long at a point where the market has already moved 80 pips and place a profit objective of 50 pips, would that be a smart move? Obviously not.

All the best!

The euro is weakening in forex trading on the currency market right now as budget problems present issues. Even though the German Ifo is beating expectations, there is still some caution about the euro zone and its budget problems. Indeed, concerns about an expected budget deficit in Germany is overcoming the positive Ifo data. With Germany one of the main drivers behind the euro zone economy, it is little surprise that the country is so influential when it comes the performance of the euro in forex trading. Not only is the euro down in forex trading, but the U.K. pound is as well. The U.S. dollar is seeing some safe haven demand in currency trading, and other low-yielding currencies, like the yen and the Swiss franc, are seeing some gains as well.