If you are interested to make money on a part-time basis, trading forex from home is not a bad option at all. This can eventually even develop into a full-time career. The way you will get started is by setting up a system that creates forex signals - signals that tell you when to buy or sell a specific currency.
Of course you can buy trading signals from third party companies. There are quite a number of them specializing in forex signals. They usually employ trading experts who are very familiar with the forex market. These guys study the indicators and market trends and then send out a buy or sell signal when they think there's a good chance of making money with a particular trade.
As long as a company like this doesn't expect you to trade like a zombie, without knowing why they recommend a particular trade, it can be a good way to get familiar with the forex market and with the way professional traders think when they consider a particular trade.
The second alternative is to buy a trading software package of your own. That means you will have to get your hands dirty and learn all the basics of forex trading before you can really start trading intelligently. It will take a relatively long time, since trading is more involved than what you probably think right now. You have to study concepts such as technical indicators, fundamental indicators, money and cash management, stop losses, take profit levels, leverage, the psychology of trading and trading systems.
One of the most basic forex signals is when you use the moving average to base your trading decisions on. The moment the price of a currency moves above the moving average, you would see that as a "buy" signal, and go long on that currency. The reverse is also true: as soon as the price drops below the moving average, you would either sell the currency or go "short" on it.
The above is a fairly rudimentary approach, and can be improved by combining another indicator with the moving average to generate your trading signals. You could for example use the moving average as a signal to buy, but use another indicator such as the MACD to trigger a selling decision. The reason is that the moving average is not generally considered to be a very good signal to sell - by that time you would have lose most of the profit you made in the first place.
A large number of professional traders have complicated trading systems that take into account numerous indicators and market conditions before the system triggers forex signals. A home trader normally doesn't have the luxury of such complicated software, but a simple system using two or maximum three indicators can work surprising well to generate quality forex signals.
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