The forex or foreign currency exchange market is probably an area that makes little sense to invest long term without having specific resources that would require multiple currencies. Of course, there may be some value in buying Euros for a long term position if you believe the value of the dollar will go down, or have some indication of such based on fiscal policy, new administration of either the USA or the countries of the European Union.
Traders, however, do things a bit different and instead of looking for a long term position, these traders will be in and out of the market on a regular basis, usually daily or even multiple times per day.
One of the better trading situations to start out after a new trader learns the basics would be something like trading the news. Of course, this would be done only live after experiencing this using a demo account on multiple different occasions having had both the negative and positive outcomes.
Trading the news is less like leveraging forex indicators and more like knowing what to look for based on advice from others that do this regularly.
When you trade the news, you’re looking for estimates of what a country’s economic reports will be from expert economists that look for such things. The currency in these situations is already reflecting this information with its current price. When the report is released, there are three possibilities, either the estimates are very close or right on, they are low, or they are high.
This can’t always be calculated, but usually when there is a discrepancy, there is a correction in the market. When this happens there is movement which is a time when individual traders can capitalize and make money.
There are some automated trading methods that rely on software. There isn’t one universally agreed upon best forex expert advisor, but there are plenty of these that can be downloaded and tried that will trigger a trade based on conditions.
Like any trading, however, make sure you’re not trading more than you’re willing to lose and that you take a lot of time practicing with a demo account before starting with “real” money.