You have to remain sharp, keep calm and pay attention at all times. The Forex Trader will closely study the international currency markets, analyse the data and then make informed decisions to make timeous trades.
Timing is extremely important. One minute could make a huge difference to profits or losses. Forex Traders need to keep up to date with current affairs and political situations. These can have direct influence on currencies.
Some Forex Traders work for large investment companies and others are self-employed. Forex trading happens 24 hours a day around the world. Changes can happen a second. The value of currencies can change in a heartbeat. Very good Forex Traders can make a lot of money. So as long as you have a computer made in the last five years, you should be fine.
As for a smartphone, you will find it easier if you have an Android. However, iPhones have Forex trading apps too. Personally, I use the Galaxy Note 3. To start with, Forex trading wont cost you anything. You could spend your first year trading a demo account. When you start making consistent profits on a demo account, you may want to open a live account.
This is where the costs come in. However, the costs are relatively low. Realistically, you will want to open a slightly larger account though. Remember, it takes a long time to master Forex. You need to start small with your first account and slowly add to it as you become more comfortable with live trading. After your first year or two, if you are making consistent profits, it may be time to open a serious account. So, when starting out, Forex costs very little.
You only need to invest a significant amount of money when you feel comfortable doing so.