Q5: What do I need to become successful in forex trading?A5: You need to have a strong commitment, willingness to learn things and diligently update yourknowledge or information. Most people fail because they don't have a strong commitment from thestart. Also, many people just don't have the right kind of information or knowledge. Q6: Do I need to have a high-tech computer?A6: Absolutely not. You don't need to have a computer that look like Star Trek or any other alienspaceship. A computer with 512 RAM, Pentium 4 2.67 Ghz, 80 Gb hard disk drive and windows xpis enough for you to be able to trade forex. However you need to know that it is important not toopen multiple programs that consume a lot of resources from your computer or heavy programwhile you are trading forex. In nature, forex software such as Meta Trader 4 (commonlyabbreviated as MT4) is very light and does not require computer with high specification. Q7: Do I need to have a high-speed internet to trade forex?A7: Well, it depends on what you mean by high-speed. Generally, an internet connection with 512Kbps or more is already enough. It doesn't really matter whether your subscription is DSL or cable.However, you need at least 1 Mbps if you want to incorporate scalping method in your tradingbecause some scalping methods require you to trade using a time frame lower than 1 minute.Moreover, scalpers usually trade during active trading hours (session overlaps or session open).Nonetheless, scalping is not a trading method anyone can use. Also, it is important to note thatwhile trading using wi-fi is not prohibited it is far safer to trade using wired internet connection. Thereason is because internet connection loss is rare if you are plugged with a cable rather than usingwireless connection. Q8: What is the best forex broker out there?A8: Most of today's brokers are good because of the increasing number of regulations that sweptthe forex trading industry. The list is long but there are paths that you can follow to determinewhich broker is the best for you. You can choose to use a forex broker that has a presence in yourown country because this will reduce the cost of transferring fund to and from your tradingaccount. You can choose to use a broker outside of your country if you are looking for featuresthat your domestic broker doesn't have such as higher leverage or the ability to hedge or tradeCFDs. Lastly, you can choose to use a forex broker based on the spread they offer. For whatevertrading conditions that you require in a forex broker you will most likely find the broker that will suityour need. Q9: How much money do I need to have to start trading forex?A9: The first thing you need to remember is forex trading is a business and as with any otherbusiness it requires a good business plan and enough capital to start. You have to keep reality incheck and don't expect to enter the business with $250 and turn it to $1 million in a year. Sure,there are people who can make it but certainly not everyone. Generally, a sum of $10,000 is goodto start with but many people usually start with as little as $5,000. 10% monthly return on a$10,000 account is $1,000 and it is $500 on a $5,000 account. Of course, with a solid trading plan,a good forex trading signal has the potential to drive more than 10% per month. However,consistency is what you should seek. If you can make 10% per month consistently you will seethat your money will grow to a staggering $309,126.81 in 3 years. That's a growth of 3,091%. soas you can see, 10% is actually great over a span of 3 years. Stick to the goal of 10% per monthand you'll reap the benefit in no time.